All Forum Posts by: Angelica M Garzon

Hey Tom, 

I invest in Orlando and even though SFH are higher than normal you can find good deals in cities like Lake Mary, Sanford, Daytona, Deltona, Eustis and Kissimmee area. Good luck!

Hey Jason, 

That question would be geared more towards your title company since it's really concerning who holds title. However, I think what you're talking about is a quick sale and my lender was the one that talked to me about it.... not sure what to say there. 

If your lender doesn't have the experience or expertise in a specific subject that you need I suggest you try shopping around or reaching out to other more seasoned experts on the topic. 

Good Luck! 

Hey George, 

hmm I don't think that service exists for just comps. I guess the closest thing to that is to order an appraisal on the property. 

However, from what you're saying it looks like you have some kind of equity so that's a good thing! 

Good Luck! 

Hey Chris, 

oh my gosh, I love seller financing. That's how i bought my first rental! 

I would suggest you make it appealing to the seller but also ask them from the start if that's something they would even consider. 

My calls to every property I found on zillow or wherever went: intro, q's to make sure it fits my criteria and the last and most important q: " also, would you consider seller financing your property? " If they didn't know what that was i would say "pretty much you financing the property for me instead of the bank for a short period of time and collecting interest mean while which increases how much you actually get for the property". During the time I could ONLY purchase a property if it was with seller financing which is why that question was a deal breaker for me.  

In my offers i would also include an origination fee paid at closing and a balloon payment and at least 5k as down payment. It's also important to do those negotiations on the phone or in person, formality in this case might kill the deal. 

I think that the most important thing for you as the buyer is getting a good price and a low or no interest rate. 

Hope this helps and good luck ! 

@David R. 

Hey! So I have a property manager, she does everything and when we need to communicate I email her. She charges 10% of rents collected and deposit my check every month in my account. 

The good thing about SC is that grass cutting is for only half the year, so that saves me a lot of money. 

It's in Varnville, SC. 

Super small town ! But, it's an hour from Savannah, GA and Charleston, SC. It's also behind the only hospital in the town. If you like the location, I know of another duplex, exactly the same that's for sale. 

Hey Kevin, 

I found myself in the same situation abut a year ago when i first started investing. My actions that lead me to my first deal went like this: 

1. What's your budget? How much liquid cash do you have to purchase your first or first few rentals? 

2. How will you pay for that rental or rentals? If you have a lot of liquidity, it might make more sense to buy cheaper properties with 20% down that still cashflow. Will you be using conventional financing or private portfolio lender? Will you be buying cash? 

3. Filter your property search: Do you want to buy single family houses? If so how many b/b minimum? For SFH I suggest you only look at properties with 3/2 or more, they'll rent faster and for more $$$. Do you prefer small multi-family (2-4)? Or maybe you want to look for larger units (5+)?

4. What price point do you want? I put this one here because depending on #3 you'll automatically filter your markets. For example, let's say you choose small multifamily and plan to purchase with 20% down and only have 20k, that means you'll have to find a property at 100k or under. You'll only see that in very specific markets for example, Cleveland, Detroit, Texas (rural towns), & more small rural towns. Thus, when you put the specifics into Zillow or whatever other search engine you choose and zoom out to see other states you'll get very few hits focusing your search on specific markets. 

5. From your results i would then filter was areas work and which ones don't. Maybe South Carolina is too far. But maybe another market closer to you will be a class D were you might run into a lot of issues with the management. What are you willing to deal with for a long term investment? 

Hope this helps & good luck !! 

Hey Kim, 

I have a duplex in SC. The duplex is in a small low income town. Honestly, it's a cashcow, it stays occupied, requires very little maintenance and the tenants always pay on time. I'd suggest you try to find a multifamily in a similar market but in NC. I know there are a lot of "booming" towns were renting has gotten ridiculously expensive. Maybe look at surrounding towns, 1 hr commute, the people who cannot afford to live in the "booming" markets will still work there and rent were you invest. 

Hope that makes sense! 

Good luck !

Hey Michael, 

From experience I've learned that interest rates tend to stay the same and they don't depend much on the lender but more on your credit score, LTV, appraised value and experience (with private money). Thus, I usually base my decisions on lenders that have the least amount of fees or cheaper fees, communicate quickly and effectively, and over inform instead of holding back on information.

Hope this helps and congrats on your first investment!!! 

Hey Jonathan, 

I think it all depends on how much involvement you want to have in your real estate investments and your long term goals. 

Do you want to manage your properties ? Do you like having multiple tenants handled by you or one or more property management companies? What type of returns are you looking for? 

In syndication, try to look at deals that guarantee at least a 10% ROI before sale of building. I feel like syndication is so popular right now and the returns are getting lower and lower.

If you're accredited and mentioned single family (lot of work) then I assume you might also be open to apartment buildings on your own or with a few partners? The returns could be far greater, everything would be under one roof instead of several properties in different locations, your value add plan would be easier to execute and the experience would open so many doors to other investments. 

Hope this helps!