All Forum Posts by: Christian Belleque

Well that's a horrible mistake on my part. PITI for the property would be roughly around 2,000 a month. Taxes would be no more than 4-5 thousand a year. Which I feel leaves pretty good cash flow each month. I could also bundle all the utilities in and take care of it for the college students and charge more each month. I know how it could be a hassle to deal with students and bills and paying them on time. If I don't do that, electricity, gas, water/sewage could be passed onto the tenants.

I would do the management myself and use a handyman that would do most of the fixes.

Hey everyone,

I found a duplex that needs some work but is in livable conditions. One unit has 4 bds, 1 bath. the second has 2 beds and 1.5 baths.

Unit 1:

4 beds

1 bathroom

Rent=1450/month

Unit 2:

2 bed

1.5 bath.

Rent=1150/month

Expected Expenses breakdown to the following:

Water/sewer= $120/month

Electricity=$40/month

Gas=$35/month

Trash=$35/month

Everything total=$7,168/year

Rents come out to $31,200 a year and $24,032 after a rough estimate of expenses.

My goal would to rent out each room to the college students nearby for $600 per room/month. That would increase the rent by $1,000 a month by doing different marketing that will be free. That would bring my rent after expenses to around $35,000 a year.

The place needs fixing but college students don't mind that too much, being a college student myself. I would have parents cosign to ensure payments and the house doesn't get trashed. This rent is very reasonable for the area and convenience it has.

One of my only problems would be coming up with the financing to own this place. Any help here would be greatly appreciated!

Please let me know what you all think! Thank You!

Thanks for the advice Paul! I have listened to over 35 podcasts and read the Ultimate Beginners Guide along with Rich Dad Poor Dad and the ultimate real estate investors guide by Rich Dad Poor Dad. I will definitely go to my local REIA meetings. I actually have looked into the HUD housing options, unfortunately I am unable to put down 25-30% being a college student. I am trying to find ways to get creative financing in place. Also, being a college student, I was really intrigued by student housing as well. I feel I would be able to market my house very well and understand what the kids want and need. Thanks for your input once again. I will be sure to continually post my updates!

Hey Everyone,

I have decided to get into the pre-foreclosure area because of the win-win situation I can achieve on every deal. Unfortunately, I understand that there are just some situations that are not able to be saved. When looking for a good house to look deeper into, what are your parameters? What do you look for in an investable Pre-foreclosure property?

@StevenStokes this does help tremendously! Thank you for your input. I'll be sure to attend those meetings and network my tail off.

@Kyla Ross thanks! I appreciate the encouragement. Hopefully we could meet up and bounce ideas off of each other considering we are neighbors. Do you happen to know where to find the information about the REIAs?

Hey everyone,

I know it is not so important to have a buyers list ready before you have deals as the gurus say it is, but it sure would be nice to know that there are people you can rely on to buy a property just in case you cant come up with the finances and such. What, in your opinion, is the best way to attract investors?

I'm planning on taking over ownership by paying off their over due mortgages. I've come across the upset owner but I've also got a couple of great receptions. I have thick skin so I know being yelled at is just a part of the game. I've been driving around usually about an hour a day as well. 

How's everyone doing? I started doing real estate investments just about 3 weeks ago. I'm focusing in on pre foreclosures in my neighborhood in hopes of getting ownership of a house for little to preferably no money down or financing on my part. So far I have knocked on doors, sent out letters, made a website and business cards, and posed signs in the area. I am not a person who is content with sitting back and waiting for things to happen. I'm planning on making my next round of door knocking this weekend. In your opinion, what would be the best next step in my journey? 

I am currently using this app. I have used it for about 3 months now and my account has grown by a whopping 5 cents. I was pretty skeptical about it getting started about how much it could really grow. I see it as another savings account with the possibility of a ROI, a very small one. So I wouldn't go into it with a hope of making a decent amount of money but as a place to put extra money so you don't see it. I do a recurring deposit of $50 a week and hopefully when I come back it will be a nice surprise waiting for me to invest with.