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All Forum Posts by: Yoel Reinoso

Yoel Reinoso has started 2 posts and replied 11 times.

Post: Cost to replace kitchen faucet?

Yoel ReinosoPosted
  • Southwest Florida
  • Posts 12
  • Votes 4

@Josh V.

$443?!! I need to change jobs, I can do that with my eyes closed

Post: How much is enough? What is your FREEDOM number to quit W2?

Yoel ReinosoPosted
  • Southwest Florida
  • Posts 12
  • Votes 4
Originally posted by @Charlie Cameron:

@Todd Powell love the responses.

Like many, my number is $10K. BUT, my goal by end of 2021 is:

- $4K “passive” income from my multifamily

- $4K passive income from eXp Realty rev share

- $12K from active real estate sales (cause fun!)

And to NEVER stop growing. I want to afford that Porsche 911 and match that payment with charitable donations at the same time!

 I like your whole comment but the part matching the 911 payment with donation is very nice and clever, definitely I am going to remember it for the better days!!

Post: How much is enough? What is your FREEDOM number to quit W2?

Yoel ReinosoPosted
  • Southwest Florida
  • Posts 12
  • Votes 4

For me it will be difficult at 47, I am just getting into the learning stage about RE, Right now I am bringing home $120k a year plus good health, dental, vision and life insurance, I know I will need to own a lot of doors to match that number!!. But I am working on it.. great post by the way!!

Post: How to invest 30k in real estate?

Yoel ReinosoPosted
  • Southwest Florida
  • Posts 12
  • Votes 4

I Southwest Florida is not possible to buy anything for $30K at least nothing listed on the MLS, my plan is to figure out how to buy outside Florida.

Originally posted by @Dan Mitchen:

Most properties that hit the MLS or Loopnet have already been shopped around to the big well-known commercial investors in your market, therefore if they passed it's probably not a good deal. I have ownership in 100 units (30 unit, 22 unit, and 48 unit) by calling "For Rent By Owners" asking if they want to sell and I started in October 2018. Hardly anyone does it and it's a great way on finding an off market/good deal. Good luck!

 I was searching loopnet.com this afternoon and I was thinking the same thing, if they still available it is because something is not right, otherwise they will never make it. 
In a year or less you and you already own 100 units?!, you are pretty good! Congratulations, it won’t hurt if you shear some good knowledge for the future investors!!.

Post: Best way to get a HELOC

Yoel ReinosoPosted
  • Southwest Florida
  • Posts 12
  • Votes 4
Originally posted by @Todd Powell:

@Yoel Reinoso
In the last decade, I really liked B of A and they did no appraisal. However, in 2008 they changed it all and my non owner occupied HELOCS got all zeroed out. I have used my local bank who knows me and knows the local RE market and got $225K HELOC on my non owner occupied 4 plex. I also got a 90% LTV HELOC on my personal residence 3 years ago with a 15 year draw period, and prime minus .25% at KeyBank when they offered their Friends and Family deal. They paid for the appraisal as well! I have a $421K HELOC I use here and there for cash in and out for RE deals. Go for it!!

I tried the credit union I work with and they don’t do it. So I am on the process to find one that wants to work with me, thank you..

Post: Best way to get a HELOC

Yoel ReinosoPosted
  • Southwest Florida
  • Posts 12
  • Votes 4

Good afternoon, any one here with experience on getting a HELOC from an online bank like lendingtree or figure just to mention few, or is it better to go down to a local bank?.

Thanks.

Post: My very first deal.

Yoel ReinosoPosted
  • Southwest Florida
  • Posts 12
  • Votes 4

@Angie Williams yes I did found it on Zillow, I did a lot of research on both house I found and called my realtor to investigate. It is a good site to search, but I haven’t find any good investment deal on it.

Post: How Long Did it Take... ?

Yoel ReinosoPosted
  • Southwest Florida
  • Posts 12
  • Votes 4

@Spencer William Quesenberry

I got my first house in 2011 sold it in 2017 made like $170K but it was just timing not knowledge, now I just discovered BP podcast and the website, so I am on the process of finding reading materials and learning as much as I can.

Post: Tenant angry about AC

Yoel ReinosoPosted
  • Southwest Florida
  • Posts 12
  • Votes 4

@Julie Walker if you can’t fix the problem with the central unit you probably can install few splits units, they are easy to install and cheap. Good luck