All Forum Posts by: Erik Estrada

 I think it is mostly AI's fault. If a Realtor wanted to promote their business they would have to work at it. You could not say you were a Realtor and had to not be spammy. Now you just put the rules into ChatGPT and have it design responses that comply with the rules while still promoting yourself. 0 thought behind the craft now.

We are all going to have to get yoked and dress up like Smerfs like @James Wise just to get any business now

In Ohio 

I have a duplex - my only rental property.  Both tenants were there when I purchased it in March, 2024.  Both renewed their lease with me.  The lower level tenant was due for lease end Feb 2026.  He did a midnight move on July 3rd.  I have painted, fixed up, new ceiling fans, window dressings, etc. and it is move in ready.  Can’t find a tenant that qualifies:  3 times the rent in monthly income, pass credit check and criminal background check. 
The upper unit is not generating enough to pay the mortgage, insurance, taxes and it is COSTING me $550 a month to own this property.  Not good. I’ve listed it for sale with a realtor and considering not paying the mortgage anymore.  
Thoughts?  Anyone ever been in this predicament? 
Thank you, 

Lisa 

My wife and I just finished renovating our current home.  The house is paid off, worth about 220k after the renovation.  My wife and I would like to figure out some ways to get financing to buy a duplex in our area.   Since the house is paid off, what are some things we could look into.  

@Heidi Christensen  Yes, combining seller financing with a bank loan.  5% down, 15% seller financing and 80% bank loan.

Key points: had to be a commercial loan, this won't work with conventional lending.  And I had to put down the 20% first, and then executed the 15% seller financing after the close, essentially reimbursing me.

Who are some DSCR lenders in that are US based that are good for for first time multi-family investors?

I’ve done thousands of deals and own 40 properties—but this time… I got robbed. And I didn’t even see it coming.

One of my rentals had an urgent repair. I posted on my Facebook wall for handyman referrals. Got several names right away, and two different people commented with “their guy.” One of them called me immediately—sounded professional, promised quick service, and asked for a $40 inspection fee. I sent it over.

Here’s the kicker: turns out those “two different referrals” were the same guy, creating artificial competition to seem more credible. I learned that you have to slow down—and that your friends’ friends are not always legit.

An hour later, he called back with a $150 “repair” price. I paid it, relieved it was handled.

Then my son calls me. “Dad, no one’s been here.” That’s when it hit me. The guy never went to the property at all. Just took the money and disappeared.

Thankfully, my PM team fixed the real issue. But here’s my question for you: when you’re under time pressure, how do you make sure you’re not paying a scammer?

Hello BP Community!

Has anyone thought the content of the forums have been degrading recently? I feel like moderators and/or the staff of BP have been unable or unwilling to moderate the forums to the same standard they used to. It is riddled with self promotions and ChatGPT --- posts lately...

@Scott Trench

Hey all. I have been doing Residential Real Estate for 6 years. My background is in Finance - Investing in real estate has always been my goal. I have a business partner in construction and we are ready to do our first flip. We are looking for financing options as well as getting connected with some people and avenues that can get us a good property. I’m excited and ready to put into action all that we have learned.