All Forum Posts by: Manny Cirino

You can get access to geo leads which basic numbers to any house or neighborhood of your you choice. You can literally type in the address of 1 single house and get the number or you can type in a street name and get all the numbers for that street same for subdivisions. 

I started with geo leads only pulled expired  not delisted data from a different source and uploaded to REDX to pull the numbers I created an expired database without paying for it. I was on a budget at first so I was ok with putting in the work.

if your looking for wholesale deals then Preforeclosures and geo leads are a good start.

FHA basics

minimum 580 credit score

2 years of stable employment history

43% DTC(Debt-to-income) Ratio - your monthly debt may not exceed 43% of your monthly income

required downpayment 3.5% of purchase price

75% of annual gross cashflow can be claimed as annual income.

payment includes Principal, interest, taxes, insurance & PMI

There are so many variables but that is simply the basics of the FHA Loan. There is also a FHA 203(k) loan that is the exact same except they loan you money for the renovation as well. I hope that helps

  If you're an agent then you should just be using REDX data with a mojo triple line dialer. The triple line dialer runs to wrong numbers quick and gets you straight to your contacts and REDX info is pretty much on point. You could get 20-30 contacts a day easy.

  Sometimes you don't have to try and be so clever and creative. Just stick to the basics and don't try to reinvent the wheel. 

  But if you want to step it up, then you can also text ever contact you make a link to your website directing them to any pertinent information discussed. Your website will have your FB pixel and google trace number on there. This way they are  tagged with put them knowing and you can retargeting them with FB & Google ads for pennies.

  As a CT resident I will be clear. Everywhere in CT that you see high inventory in CT like New Britain, Bristol, Waterbury, Hartford, Meriden, Bridgeport are all on the surface considered high crime cities. 

  But the issue is not crime because on paper crime is actually low, it's actually a drug problem these cities have. Now the drugs are not concentrated to a specific neighborhood it is so scattered that you will never be able to tell what is a good area or a bad area in these citys. 

  The values of the properties are hard to appraise because they are all built in different years and all in different conditions, so these houses are all at the mercy of your budget and rehab. What ever you put in to them is what you will get out of them.

  The best you can do is take pride in your property rehab it with a high standard and vet your tenants properly in these cities you will attract only the kind of tenants you accept.

Good to hear Nick! Your future looks bright!!

  I doubt there aren't many investors in the area. There are ALWAYS investors looking in every corner. Chances are many have looked at it and passed because of some for seen headache.

  I would ask even if it occupied, are the tenants still paying rent? If not what are the laws in your state for evicting them? And after purchasing the property handling all of the deferred maintenance, is it still a deal? Was the 3 unit conversion legal? And are there any major structural issues? Back taxes or liens and code violations on the property?

  There are so many reasons the price could be so low. Handle your due diligence properly.
 

  Anywhere in Central Florida you can do very well. The job growth is through the roof with many large company's stationed threw out the area. And people are steady migrating to FL everyday. The majority of my business in FL was people who where transfer/retiring in Florida because there are no state taxes only federal. And property taxes are extremely low.

   I don't understand that idea that we absolutely have to have a recession there is no rule stating this is absolutely mandatory. I see a slight correction maybe a pullback, but I dont see the recession like we had in the past. 

   I see lenders doing a much better job qualifying people, so you wont have the subprime crisist we had before. And I don't see and major industries equivalent to the auto industry failing. 

  The only thing I see that concerns me is subprime auto loans, but I'm not entirely sure how that leak would form. Hold you properties and weather the storm. There is always a new ceiling after every storm passes

Zoltan, I can help you with anything you need. Feel free to reach out at anytime.

Zoltan, I can help you with anything you need. Feel free to reach out at anytime.