All Forum Posts by: Eric Villafana

Looking for any experience/recommendations for a quality GC in and around Burlington county New Jersey area. Any/all info is much appreciated. 

-Eric

Good morning,

My PG county Maryland tenants want to renew their lease for two years (YAY!). The original lease states that upon renewal, that rents will increase by 2%.

Do we need to draft an entirely new lease agreement upon the renewal, or can we define the new terms using an addendum to the original lease ?

Logic tells me that we can do an addendum, however, sometimes laws defy logic.

If an addendum, does anyone have a template that they'd like to share?

Thanks in advance for the assistance.

-Eric

In order to recoup the initial investment, would it be wiser to use hard money or private money versus the conventional loan? I would like to ensure that I can repeat this process once I have a tenant in place. 

I would be looking to recoup my down payment and the closing costs for the first loan. 

Good afternoon. I have my eye on and property in Texas. Details are below:

3bd 3bth 2k Sq ft

Bank Asking : 129k (it's an REO)

ARV : 155-160k

Repairs ~$10k

I'm thinking of offering $100K which would put me all in at $110k.

Its a buy and hold. Rents are $1250.

I'm using a conventional loan.

What are your thoughts. 

One other question I have is whether I can use the BRRR strategy using a conventional loan for initial aquisition. Anybody have experience with this?

Good evening. I'm active Air Force in San Antonio. My wife and I currently own a rental home that we purchased while stationed in Maryland, near D.C. We own a primary home here in SA that we will rent out once we move again. We are currently shopping for our first real investment property. We're primarily interested in single family homes due to the quality of tenant, however, I would like to eventually get into multi-families that are in quality areas. We currently seeking opportunities in Killeen, as San Antonio homes that are in our price-range are not in the quality of neighborhood we are looking for.

I've posted a few questions already and have received great feedback. I've also reached out to some investors via the colleague request and have also received great support. 

We are excited to continue our journey in real estate and look forward to the opportunities in the future.

Good afternoon,

I'm looking for a template addendum to add a pet to an existing lease. The home is in PG county Maryland. The current lease and addendum was drafted by my listing agent using ZipForm. I dont have access to that software, and was hoping to draft the addendum on my own using Acrobat. Does anyone have a sample they'd be willing to share?

Any assistance is appreciated.

-Eric Villafana

@Filip Vaco, have you tried reaching out to a real esate agent to place it on MLS?

There are a ton of property managers in Killeen. I did a search for some and it seems that professional property management is big business in the area. Are you military? Have you tried posting the home on one of the social media platforms geared toward military families?

I own a home in Maryland near Andrews AFB,, and had the house listed on MLS. In addition, my wife posted it up on social media. A family that was PCSing from Hickam AFB in Hawaii, saw the post and reached out to her. It saved us half on the commission. Now the manager is just handeling the turnover, and we will self-manage once the family is in place.

I hope this helps.

-Eric Villafana

Makes sense. Were you active military or civil service?

@Jay Jasunas, how long do they make you wait prior to tapping in to it again?