All Forum Posts by: Carlos Velasquez

One more thing, you can also post banners behind the fence this makes it very hard for the town because they would be trespassing. However if you do not feel comfortable your best bet is painting a truck or van with what you want and park it in strategic areas.

@Andrew Syrios can you please see the bottom of my last post?

Ok, so based on some of the advises and information from the podcast, I made a bid to obtain an Hud foreclosure and I actually won the bid. It is a single family 4 bedroom. The purchase price was 70k and after closing costs and fees the total cost would be around 75k. It needs between 12k to 15k in repairs and the market analysis made by my realtor, who is also an investor in properties, says it could be sold between 130k and 140k (ARV) or I could rented for 1300 a month. If rented I will be paying under $600 including taxes and insurance. I also asked the realtor if he was to find me another investor how much can I ask for to make a double closing (kind of like a wholesale) and he told me he can ask for 89k that way everyone can make some money. So this is what I am doing, I told the realtor to go ahead and offer the property to any investor for 89k and if I do not get an offer, I would then repair it my self and I could try selling it ASAP and get some good cash, but if I do not get a buyer in time I would rent the property. I really hope any of this strategies work out. Do you guys think it will based on your experience?

Thank you so much for all the replies. I am getting all the information you guys have provided and use it to make a better judgment. I am still going forward with a purchase to invest, just better informed thistime.

Yup, I get it... I just finish doing the 2% rule and it does not work out. The house is in good condition and with tenants already. The seller is motivated and needs to move out of the State. What do you think if my offer is no more than 150K?  am new guys and if I need to hold on and find a better deal I will.

I am making sure I do not make a mistake because this is my first buy and hold. It is a 3 family with a seven car garage (which I could eventually turn into an extra apartment) it is currently being sold for 220K and it is producing 3,000 a month. The propeerty it's also located in a nice area. BP community, do you think this is a good deal?

Hi, I am fairly new investing in real estate. I have been able to save some money ($30K) and would like to know how to approach hard money lenders in order to start flipping homes. I already have a mortgage and my credit is not the greatest and that is why I think that a hard money lender could help me start my project. I am looking to borrow an additional 50K can any one provide me with information on hard money lenders willing to do business with me? Thank you in advance for sharing any information.