All Forum Posts by: Allan Guerra

I am seriously thinking of starting in real estate by buying land in cash and having a duplex, triplex or fourplex built on it through a loan from a construction company, and house hack by living in one of the units while renting out the others. What tips, do's or don'ts can anyone give me while doing this. Will this be too much for a beginner? Your responses/experiences would be much appreciated. Thank you.

Thank you for responding Paul. I will learn as much as I can about the BRRRR strategy so I dont have to work myselft to death. Thanks again.

I currently have an apartment where the rent from the tenant is lower than the mortgage. I will soon have $22K to invest in real estate, but I would like to accumulate more capital to invest in a duplex or triplex. I was thinking of working 3 jobs to be able to accumulate capital, but I do not want to be a stranger to my family and lose out on the best years of my children's lives. 

I will need about $9K to buy that lot, and most likely use the $10K to lower the mortgage on the apt. That way, I hope to have an apt and a duplex/triplex cashflowing.

I think we will use the money to buy the biggest lot I can buy and finance the building of a duplex or maybe a triplex, where my family can live and rent out the other 1 or 2 units to other families that will help us pay the duplex/triplex.

I thought of that. I am not emotionally attached to that home we are renting out, however, there arent that many duplexes in Guatemala. But maybe a triplex or quadplex may be easier to find, but more expensive. Thank you for responding. 

I have been renting a small apartment for over a year in order to pay very little in rent and therefore save to invest, and my family and I are a bit tired of being in such a small apartment. We have been renting out an apartment we own, but the rent is $70.85 less than the mortgage payment. I was thinking of using $10K to pay some of the mortgage to lower the monthly mortgage payment to be about $26 less than the rent we will receive from it so it can finally cashflow. And then maybe use the other $10K to invest in another property or use that amount to buy a personal residence where we can be live happier in a larger property. What would you do in my situation?   

I am trying to get my wife interested in FIRE and REI, so I made a deal with her. I told her I would buy a kindle paperwhite for her if she would read the book I placed in the kindle. I want to place one of the most inspiring and convincing FIRE or REI ebooks ever in her kindle so she can decide to join my effort in achieving FIRE. The other catch to this is that she is learning English. I can provide her with a FIRE/REI ebook in English, but it would take longer for her to catch on. Therefore, I would prefer a FIRE book in Spanish. Does anyone know what the best FIRE/REI ebook is in Spanish out there right now? Thank you!

Thank you for the advice. Were the countries you invested in Asia third world countries with weak currencies? I ask because in Guatemala a dollar is about Q7.50. I have heard a rule of thumb saying that the a monthly rent should be at 1% of the total value/price of the property to invest in it. I have analyzed several properties here and the best I have found is the rent amount being 0.75% of the total value of the house. Of course, I have only analyzed about 10 properties so I may just need to do more digging before I find that golden nugget. Thanks again.