All Forum Posts by: Dan Falcon

@Kristen Brandner your going to hear a lot of opinions here! 

My personal experience 

Vet your tenants (Stick to your requirements!) to mitigate risks and you should be fine. Make sure your state allows this and follow the rules of your state.

I am doing this in the state of Florida. Parents were paying up front for their adult child. We are on year 5 of this arrangement, tenant keeps the place in normal condition. Its great 

Hi there! I am Dan, an experienced real estate investor. My partners and I are actively reviewing deals. We are looking to add to our deal flow and would love to speak with aggressive multifamily residential brokers in the San Antonio Texas Metro area. Please leave your information or message me directly. Look forward to speaking with you.

@Luis Vaca Contractor is the hardest part of the equation for sure. I would get plugged in with a good real estate agent. Agents that deal with investors will be able to steer you in the right direction and should have plenty of contacts. I posted about the agent I use earlier in this thread, he would be one of those that works with investors! 

@Jonathan Fothergill I have been investing since 2016. I started with some property in Florida, took a little hiatus to see how they performed, then jumped into the Fayetteville market. 

I chose this location based on a few things. There is a very strong rental population. Fayetteville is Ft Bragg, Ft Bragg is Fayetteville. Ft Bragg is the largest military base in the United States. They are investing a ton of money into the base and it is ever expanding. I feel confident that the base will continue to grow and will remain in Fayetteville as it has for the past 101 years. The market is reasonably priced and for the way I like to invest, makes financial sense. 

@Morgan Porter nice work. Looks like a good deal. Where in the country is this home? 

What are the taxes, insurance, Capex? Are you self managing? Does your tenant pay all the bills?

It was sitting right on the MLS! Look back on a few of these posts and I shouted out my RE Agent. A good agent is the key to finding a deal that makes sense for you.

@Account Closed Thank you! I will have another post coming toward the middle of August. Working my way through financing for BRRRR #3 as we speak.

Hi Jonathan! Great question, and you already had the answers to both! Contractor provides a written estimate that we give to title & attorney prior to closing. That amount goes on the HUD. Since I am very comfortable with my contractor, I pay him the entire amount up front. The particular attorney I use would charge me a one time $300 fee to escrow the $ and dole it out on a draw schedule. I would advise this method if you are not 100% comfortable with your contractor.

The 60k all-in was cash. It is my personal money. Love BRRRR, once I have that cash back, or at least a hard date that the delayed financing will go through, I can start hunting for a new property!

 thank you!