All Forum Posts by: Diego Alvarado

Welcome to BP!!! There isn't better time than today to start.

Hi Nate, 

I will expand what Kyle said, "taking action and building the team" is everything in this business.

You will encounter many issues in the way up and you have to be able to overcome them quickly.

I learn daily and every project has a new thing that I haven't seen before.

Hi @Shirin Namavar

I would tell you that what @Russell Brazil said is what most will tell you. 

As the time has passed this is part of your maintenance cost on the property so I won't recommend to stress out and figure out the best solutions to resolve the problem.

It is very likely that closing the vents to the crawling space could be one of the causes to the growing problem.

I recommend you to get a mold restoration company to review and give you a quote. That will help to to get a better understanding of the situation.

Note: I am not a lawyer so I am not giving you legal advise.

Hi @Orlando Chavez

It is tough to get cash flow in DFW. It will all depend on the areas that you want to live too.

DFW has some areas that could be a break-even cashflow in Fort Worth and Haltom city, or you will need to move more to rural cities that could get a better cashflow.

The best cities in DFW are mainly for appreciation and long-term assets, and in may cases you won't be able to find 2-4plexes on those areas, most of the duplexes are subdivided so you get half of it for the price.

Hi @Steven Martin

Welcome to BG and to you investing journey.

This is the right, way to get started as I have done the same 9 years ago.

How to learn is up to you, there are many books you can read, but listing to podcasts was my main source of knowledge gain.

At the end, the main thing that you have to have is a good partner to learn from.

Going to meetups, talking with people in the industry and identifying what you want to do.

I am happy to chat whenever you are available.

Hi @William Matthew Cowgill

You have to ask yourself the following questions:

- What is the length of the investment that I am looking for?

- How much down-payment can I make?

- Am I paying for rehab costs?

- etc

HML are case by case, and they look at your finances in deep.

Have you done this before? How much money is in the bank? Who is borrowing (LLC or Personal)?

They are doing due diligence about you, and you should do the same about them.

Hi @Karan Kanekar I will add to Bruce's reply that you have to sit with your agent and make sure you are aligned not only on the strategy but in the numbers.

It is always important to work very close with who is the market expert in the area.

Hi @Joshua Garcia

Let us address your issues according on the timeline

1. Tenant notified gas company about the leak. Gas company will shut off the gas and generate a report indicating where is the leak.

2. Tenant called the plumber and authorized him to begin the repairs. Make sure that this work was not authorized by PM or the plumber can put a lien in the property 

3. PM neither stop nor request a quote to the plumber doing the work. This falls into their responsibilities to contact you right away.

The issue as described appears to be a problem of the PM not acting. That is a big concern and has to be addressed with them.

Plumbers are always expensive, I am not sure the issue but if it was a large work could be costly though I feel that price is at the high. The main problem is that tenant doesn't care about the cost so she never negotiated.

Hi @Chance White

The fastest way is going through an agent that knows the wholesale market.

You can't rely on one wholesaler, but work with multiple to find you right deal.

Wholesalers don't represent you so I always take their advice as incorrect and I found that 100% of the cases was true.

In general they want to sell the deal don't care about the investor and they don't have enough experience in renovation to give you a proper repair estimate.

To find them, you can go to Eventbrite and search for those events and meetups. 

 Your post was in Dallas location so I thought it will be there. 

There are many cities outside the metroplexes that will give you cash flow.

Paris, Tyler, Wichita Falls and San Antonio are some that can find a good cash flow and appreciation.

Of course you have to analyze case by case and it could be many others. 

Every answer will depend of the experience that everyone has in those cities.