All Forum Posts by: David Espinosa

Congratulations on pulling the trigger and welcome to the Investing community!! 

@Sean Lunny.  lol good one one for sure!!! I didn't think about noise, my kids are loud af I might chase away all my tenants...... I've factored for repairs though I had hard time because I could have purchased property cheaper but wanted the seller to pay all closing costs just so I could have a chunk of money so I can absorb the unknown. Thanks for your story! I'll have to start now with my kids not bouncing off the walls all the time lol!

I'm under contract for a 4-plex house hack. I've read tons on this strategy but not to much on the bad parts. I'm going through with it no matter what but I was wondering what are somethings that have happen to you guys that just blew your mind or wasn't expecting. Or things to look out for. Thanx in advanced!!

Call me crazy but since you are a broker you should be able to start a property management company aimed towards rehabers and pitch the Ill take care of your rentals so you can go back to flipping. I would pitch to the ones rehabbing that if they come across a property they may not make sense to sell or are having a hard time selling you can take it over for them and put tenants in so they can start on their next deal. You can show them that you have experience in all types of realestate investing. If the flipper is woried about getting there money out to do the next flip use your good credit and partner with them to refinance and you handle the managment and you will get a more secure percentage of the deal to handle property managment. Hope this helps. Happy Investing!

David Espinosa

I am not an agent but, I've heard you have to give more disclosures and have fiduciary duties. It depends on what kind of investing you want to do, buy and hold, rehab, or wholesaling. It will have positives and negatives for all types of investing, but yes deffinatly possible for sure.

I don't know the costs of building but I would sell property using a 1031 exchange if needed. Then buy cheap but solid properties, rehab them, rent them, refinance them, then repeat the process over and over again. Or use to buy a commercial multi, maybe even invest with a partner or syndicator. You have alot of options its really more about your personal risk levels and amount of work you want to put in. I wouldn't build new personally. Money is cheap right now so I would try to use leverage to my advantage. Hope this helps. Happy Investing!

David Espinosa

Of course thats asumming the numbers look good!

I would personally start with the complex and house hack it.  I would also manage it myself to learn the ins and outs of managing. Having more than two will be beneficial when you experience turn over. Hope this helps. Happy Investing!

David Espinosa

Read "Rich Dad Poor Dad" best advice I've ever had!!!

Don't ask to sign the contract but instead approve the sale agreement.  "Contract" and "sign" can scare people. Totally agree on renting a car. Good luck!!