All Forum Posts by: Valentin Diaz

Hi everyone, I'm posting on here today to see if I can get some guidence. A year ago I recently purchased my first multi family to house hack and I rant into a issue when the seller paid for a electrical upgrade to the home. The upgrade basically put a target on my back with the fire marshall as he came by to inspect the work and found that there were a few compliance issues. Now my main issue is I need a fire detection system in a enclosed back porch that leads up to all three floors, but I don't know what's the minimum I would need to be compliant or that the fire marshall is suggesting what he wants or recommends. My question is can anyone point in the direction of someone who could represent me in this matter maybe a lawyer or attorney, or someone who knows the fire code and who can be clear and concise on what I need. Anyway thank you to anyone who can try and offer me a little help, it's greatly appreciated.

Hello Everyone,

just here to vent 😮‍💨. I'm feeling really disappointed today. I've been a fan of biggerpockets for some time now with the aspirations of acquiring a FHA loan to buy a multi-family. Me and my siblings are tight and have always had eachothers backs and they rent right now for some not so good tenants. I had the old-school idea of buying a property and having them rent from me. It would save me money and allow me to save fir the next property while also keeping me close to my family. I recently wanted to see if I could be pre approved for a loan because I had a reasonable amount of money saved and just wanted to see. I got pre-approved and started looking for properties in my area. I even made some offers. I quickly realized there isn't enough inventory in my market and it's been highly competitive and now I'm feeling discouraged. It seems that at this time in the market people with not some much money like me are being priced out and it's got me down in the dumps so I ended my search and just figured I'd try my best to save more 😅 which is pretty hard right now woth the price of commodities constantly increasing. Is there any advice anyone could give me? Or some type of insight to instill some hope for the future?

@Taylor Hudgins Thanks so much really appreciate it 😁

@Jaron Walling thank you so much for taking the time to respond 😁👍 I'm buying this book today thanks again 💪

@Lisa Maldonado I'm sorry to call you brother I thought it said Luis. Anyway, thanks again LISA.

@Lisa Maldonado Thanks brother, appreciate the advice!👍💪

@Jaron Walling thanks so much for the advice, you don't know how greatly I appreciate it. Sometimes I feel it's hard to get answers from people, but I also try to best articulate my questions. I know it can probably get kind of repetitive seeing the same "newbie" questions so often. Now about the numbers, are there any books or learning resources you can recommend that best elaborates on some of the advice you gave me?

What are some things I should look out for when purchasing a home for the 1st time. I want to know how I can predict for future references if a property would be profitable or not. Are there any equations or tips anyone can give me for analyzing deals. I want to buy a rental property.

Looking for a go to real estate investor friendly Realtor to build a relationship with in my area...

What are some exit strategies used when purchasing homes? I feel that there could be a possible dip in the economy, and in the Housing market and just wanted to know if there were some ways you can minimize risk when purchasing in times like these? I feel I'm ready to purchase a multi sometime soon and just want some reassurance.