New Member in the Orlando, FL

New Member Introductions
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New Member in the Orlando, FL

Jose Hooker
Kissimmee, FL · Member since 2016 · 83 posts · 12 votes

Hi BP community,

My name is José Felipe Hooker-Gómez. I am an industrial engineer currently working for a multinational here in Orlando. I have been listening to the BP broadcast and also have been reading some real estate books. I am interest in learning more about this industry. I am willing to help in any capacity.

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  • Michael S.Pro Member
    Biggerpockets Support · Las Pinas, Metro Manila · Member since 2015 · 7k+ posts · 1k+ votes
    10y

    Welcome to the site @Jose Hooker Great to have you here

    BiggerPockets
    0Reply
  • Dave VisayaPro Member
    Moderator
    Audio Engineer and Investor · Cebu City, Cebu · Member since 2013 · 7k+ posts · 881 votes
    10y

    Hey @Jose Hooker, welcome to the site! Feel free to jump in the community here and also take advantage of the treasure of knowledge here.

    BiggerPockets
    0Reply
  • Miguel Dormany
    Tampa, FL · Member since 2015 · 145 posts · 47 votes
    10y
    Jose Hooker Welcome to BP. Don't stop learning and ask many questions. This is the way to learn and get ahead. Wish you well. Miguel
    0Reply
  • John Kent
    Real Estate Agent · Orlando, FL · Member since 2008 · 551 posts · 159 votes
    10y

    @Jose Hooker welcome to the community! I am in Orlando also so feel free to connect.

    Be sure to check out our local real estate investment groups; GoREIA and CFRI. They have monthly meetings that are well visited. 

    0Reply
  • Renae Hottle
    Lender · Fort Lauderdale, FL · Member since 2016 · 40 posts · 7 votes
    10y

    Welcome Jose Hooker! Hope your having a great day, will be glad to help in anyway I can!

    0Reply
  • Jose Hooker
    OP
    Kissimmee, FL · Member since 2016 · 83 posts · 12 votes
    10y

    Thanks to everyone who welcomed me to the site. I am very happy to help you in any capacity.

    0Reply
  • Jose Hooker
    OP
    Kissimmee, FL · Member since 2016 · 83 posts · 12 votes
    10y

    I am looking for my first real estate super deal. I am interested in duplex deal around Kissimmee and Orlando.

    0Reply
  • Jose Hooker
    OP
    Kissimmee, FL · Member since 2016 · 83 posts · 12 votes
    10y

    Do you may know good areas in Kissimmee and Orlando where I can start looking for good deals?

    1Reply
  • Stephanie JacobsonBusiness Member
    Real Estate Agent · Ithaca, NY · Member since 2016 · 429 posts · 324 votes
    10y

    Welcome @Jose Hooker! My brother used to live in Winter Park and I just loved visiting him there.

    0Reply
  • Jose Hooker
    OP
    Kissimmee, FL · Member since 2016 · 83 posts · 12 votes
    10y

    Thank you Stephanie for the information.

    0Reply
  • John Kent
    Real Estate Agent · Orlando, FL · Member since 2008 · 551 posts · 159 votes
    10y

    @Jose Hooker unless you plan to live in the property find a property in Orlando or Kissimmee where the numbers work for you then evaluate the neighborhood to see if you still wish to own the property. There isn't an overwhelming amount of duplexes available so searching property first is manageable.  If you plan to live in the property that is a different story of course. 

    0Reply
  • Jose Hooker
    OP
    Kissimmee, FL · Member since 2016 · 83 posts · 12 votes
    10y

    John, thank you very much for your comments. At this moment, I am not looking to live in the property since I have my own home. My goal is to buy a good property where I can get positive cash flow positive. I am thinking to buy and hold. Also, I would like to get it in a class A neighborhood if possible. Based on what I heard, I think it is better to work in that market. Do you may know a specific neighborhood where I can start looking.

    1Reply
  • Jose Hooker
    OP
    Kissimmee, FL · Member since 2016 · 83 posts · 12 votes
    10y

    Renae,

    I want to apologize in advance since I don't have the experience in the business. Do you lend money to real estate investors? I assume that because the message next to your name "Lender from Fort Lauderdale". Do you represent a bank? At this moment, I am looking to purchase my first deal. Any information in particular that you would like to know in order to know whether or not you can finance my deal?

    José

    0Reply
  • Eric Jacobs
    Specialist · Fort Lauderdale, FL · Member since 2016 · 187 posts · 128 votes
    10y

    Yes I lend money to investors.  Usually my own.  I lend solely on asset value of the property which is to say the value of the property.  Let me know the scenario and I'll let you know if I think I can help.  

    0Reply
  • Jose Hooker
    OP
    Kissimmee, FL · Member since 2016 · 83 posts · 12 votes
    10y

    As I am learning more and more about this business, I want to get some feedback about the deals that I think it will generate positive cash flow.

    Deal 1: fourplex, listing price $336,000; 4,352sqft, built in 1990.

    Deal 2: Triplex, listing price $264,900; 3,500 sqft, built in 1985

    Some concerns are: I think the listing price is high for the potential income that could generate. It does not even meet the 1% rule. I think each apartment can be rented between $800 and $900 a month.

    What do you guys think about this deal? 

    0Reply
  • Jose Hooker
    OP
    Kissimmee, FL · Member since 2016 · 83 posts · 12 votes
    10y

    Eric,

    I am not looking to flip the property. I am looking to buy and hold.

    How do you define the price of the property? Let's say that I find a good deal for $70M. I my mind, I will purchase a duplex for this price. Do you lend the $70M? What will be the interest to be paid?

    José

    0Reply
  • Miguel Dormany
    Tampa, FL · Member since 2015 · 145 posts · 47 votes
    10y

    Hi @Jose Hooker and welcome to the BP family, 

    You have come to the right place for real estate. Ensure you check out the webinars and as any questions you may have on the forums. As this is a mountain of wealth here on BP.

    Miguel

    0Reply
  • Brian Tapanes
    Investor · Fort Myers, FL · Member since 2015 · 18 posts · 6 votes
    10y
    Jose Hooker welcome to BP!!!! This is a great forum to be on if you want to invest in real estate. When you write to other who posted on your thread make sure to tag them by @ then their user name. This way they are notified and can respond to your questions. Best of luck!!!
    0Reply
  • Jose Hooker
    OP
    Kissimmee, FL · Member since 2016 · 83 posts · 12 votes
    10y

    Hi BP members,

    Thank you for your messages. I am in the Orlando area. Reach out if you need help.

    0Reply
  • Account Closed
    Investor · Orlando, FL · Member since 2016 · 1k+ posts · 780 votes
    10y

    HI Jose, welcome to BP. I am in Orlando and am a wholesaler with over 50 properties I'm marketing all over central FL. I have been a full time investor for 17 years starting out in St Louis MO and now in Orlando. 

    Also we are planning to have a first BP Orlando group meeting on Sept 28 at 6:30 PM at 439 Lake Howell Rd, Maitland FL 32751. This is our first group meeting just to meet each other and see what each of us are doing in RE. This first one will be more of a social meeting than anything else, but bring alot of biz cards if you are attending. This meeting is open to any BP member in the Orlando area. Let me know who wants to attend. 

    0Reply
  • John Kent
    Real Estate Agent · Orlando, FL · Member since 2008 · 551 posts · 159 votes
    10y
    Originally posted by @Jose Hooker:

    John, thank you very much for your comments. At this moment, I am not looking to live in the property since I have my own home. My goal is to buy a good property where I can get positive cash flow positive. I am thinking to buy and hold. Also, I would like to get it in a class A neighborhood if possible. Based on what I heard, I think it is better to work in that market. Do you may know a specific neighborhood where I can start looking.

     For multifamily consider C+/B+ properties if looking for any kind of return. My lender does small multifamily loans. PM me if you need a referral. 

    0Reply
  • Danielle Fattizzi
    Wholesaler · Saint Augustine, FL · Member since 2016 · 328 posts · 98 votes
    10y
    Jose Hooker Welcome to the club and good luck in all you do! Stay engaged!
    0Reply
  • Jose Hooker
    OP
    Kissimmee, FL · Member since 2016 · 83 posts · 12 votes
    10y

    Stephen, 

    I am interested in attending this meeting. 

    0Reply
  • Sam Ally
    Lender · Orlando, FL · Member since 2009 · 121 posts · 74 votes
    10y

    @Jose Hooker I laud you for your desire to jump into this arena, however, while it is great to listen to pod casts, read, and act upon what you've learned you must procceed with caution.  There are so many variables to consider. If financing the asset, is it currently tenanted or vacant. Will the numbers meet the debt service coverage ratio to qualify for funding via bank or alternative lender?  Are you bankable? What is your ability to repay? Since you have no expertise, what are the area comps based upon the scenario your presented, who will provide property management, what condition is the asset in, what value can you add to increase profitability, how much "skin" in the game will you contribute? No this is not "brain surgery" but to become an industrial engineer took time for you right? These are big ticket items that can derail your financial dreams in a flash if you simply "jump in".  Network and build relationships with those that are doing what it is you wish to do, listen, watch, learn. Add value to them in exchange for their knowledge and assistance, learn about market cycles and trends, start building your power team of individuals that know what you do not and can do what you cannot.  Diligently vette everyone, assume nothing, find sound legal counsel, and never put any asset into your own name, and if it is truly a "good deal" you will have to act quickly and without emotion. Lots of work ahead for you to achieve your goals but it is worth it.  Good Luck!!

    0Reply
  • Jose Hooker
    OP
    Kissimmee, FL · Member since 2016 · 83 posts · 12 votes
    9y

    Hi Sam 

    @Sam Ally thank you very much for your kind comments and thoughts. I really appreciate you taking the time to write back.

    José 

    0Reply
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