All Forum Posts by: Bryan Rodriguez

Mr. Kern, Thank you for responding! Sounds like a perfect fit for our small start-up. Can't wait to experience what the firm has to offer. In regards to your hard money lending, may you please provide a website or information, regarding your lending rates, fees and process to apply. Looking forward to establishing a connection when we arrive in Richmond! Bryan

Greetings, We are in need of a referral for RE Lawyers in the Richmond, VA Area, who effectively work well with investors and are competent with Real Estate Contracts (i.e Subject To, Mortgage Assignments, etc). Thank you!

@Brandon W.

I am just lucky. 0% Down is very rare. I am in a good position with my lender. I paid no closing costs, minor rehab costs, fully rented tenants until mid 2014, reducing operating cost constantly (i.e. water sub-metering) and after the current leasing agreements ends I plan to increase the rent of each unit respectively.

All these factors, assisted in sustaining a decent ROI, regardless of the low Cap Rate. Yet, we will see how this property unfolds throughout the first year. Hopefully, not to many obstacles to overcome.

Suggestion: Quest IRA

Chris, Indeed, Austin is an aggressive market, resulting in limited cash flow opportunities. Yet, one needs to keep searching into uncharted or less attractive areas. One may assume assume these areas are "Warzones", which in actuality they are just C Class communities. For example, I purchased a Quadplex at $198,900. At first, I was hesitant about the location, but after culturally immersing myself it was not as things appeared. Before making the investment, I conducted my due diligence, discovering interesting figures: CAP Rate: 4.144% Asset Value: $213,898.00 Profit Per Unit: $184.65 Year 1 Cash ROI: 44.33% Year 1 Total ROI: 62.68% Year 1 Total Cash Flow: $8,863.00 Expenses: 39.38% Price Per SqFt: $55.34 These numbers demonstrate passive income, supplementing my full-time salary and allowing me to save for a future down payment or assist in a real estate venture. Hopefully, my example provides a way and not a solution. My best advice would be just to put "boots on the ground" and research all areas intimately. Happy Hunting!

Exactly. Bottom line up front: "Just Do It"

I am in a similar situation. There are 3 of 4 furnaces (1968), which are way past their respective life expectancy; yet are serving it's purpose. In order to balance Landlord responsibilities and lower operating cost, I plan consistently monitor the statuses of each furnace until it becomes out of order and immediately replace it with the most affordable and energy efficient furnace. "Don't fix, what's not broken."

My wife and I have decided to purchase our 2nd property, Quadplex. This is going to be our 1st landlord property. The Quadplex we have in mind has significant positive cash flow after mortgage and all operating expenses >$400/month. However this property is located in unstable area with a very poor reputation, fortunately closest neighborhood is promising single family home area with a lot of houses getting rehabbed. Two local realtors have recommended not to purchase the property due to poor reputation of the area and our own realtor said he's not going to manage this for us. We have money allocated for initial repairs if needed and we will have handy man on site. Based on our situation, is this investment worth the risk? If so, what are the strategic ways to lower our risk? Thank you in advance!! Hope to hear all the great knowledge