All Forum Posts by: Damian Gutierrez

 Yes I’ve got a lender who is allowing 15% down at a 5% rate. House is currently being rent so I’m not assuming any major repair on the front end until they move out or with service requests as needed. I’ll double check on the rates. 

Thank you for your help. 

CAP Rate and NOI are automatically calculated using the BP calculator. I didn't use a calculator for this.....

Bigger Pockets Community,

I have been working on getting my first deal for about (2) months and I think I finally got something worth purchasing. My goal was to purchase a (B-)/(C+) SFR (3 Bed 2 Bath) with ($150 - $200) in cash flow a month in Memphis TN. I came across a property in Memphis that is an attached SFR that looks like it is in a decent neighborhood. The one thing that is worrying me is it is an attached property which my limit the number of renters looking at the property. However, I think because it is an attached property at a decent price investors have overlooked what looks to be a solid property. I'm hoping this will be my foot in the door. I would appreciate if you all could just take a look at my assumptions regarding insurance, taxes, and repair/capex I am setting aside.

I think this would be a solid first deal with potential for rent increase in a nice area, but it any and all feedback is appreciate. 

@Mo Muigai Glad to heat you aren’t the only surprises by this rate. I’m looking for investment properties around the same price range and have been quoted between 5-6%. Good luck!

Has anyone used the landlord lease forms BP has for download? Are these pretty reliable or should I look elsewhere and compare contracts? Looking to get a tenant signed up to a contract in the next month or so in California.

Thanks for the help.

@Matt Riley Hard money sounds like Hard Money is the way to go. If you plan on selling your property within the next month or two you wouldn’t be charged much interest on the Hard Money anyway. Just have to be careful with points upfront.

@James CarlsonThanks for sharing and breaking down the deal. Is your client managing the rentals or hiring out to a property management company? I’m also interested in hearing how your client plans to minimize costs with unexpected higher turnover rate.

@Micah Depascale

In addition to advertising on Facebook I recommend you look for leads/network on LinkedIn. This will help you connect with a lot of other professions.

Good luck!

I'm a project engineer currently working for a large General Contractor on a $500 million dollar project in Los Angeles. I understand the importance of work flows and systematizing as many process as possible. Let me help you create workflows that lead to effective systems and documentation for your business. On top of working for a GC, I'm working on saving money to begin REI so I'm also available to help screen subcontractors, create scope sheets, and analyze deals for your business. Reach out if you need my services. Thanks.

@Ben Hubbard I’m not a wholesaler but I am an engineer for a General Contractor ‘Clark Construction’ interested in real estate investing in Bakersfield. If you need help finding deals in the area or anything else please feel free to reach out. Thanks.