All Forum Posts by: Eunice Villarroel

Recently purchased a fixer upper, hoping to do a BRRRR on it. I would like to buy another property this year also. I have 60k in cash at the moment, rehab costs to property would run about 50k . Is it better to borrow that from the bank? if so, should I pull a heloc (on another property with 2.5% interest on the mortgage and 120 k in equity) or a regular loan? What loans offer the best terms? Im hoping to cash out refinance in 6 months and pay off the loan that way. I want to stay as liquid as possible for the time being

I'd like to learn more please

I’m under contract for a property 100K less than upgraded properties in the same area. However I’m running into the following problems:

1.iron cast plumbing. House is almost 60 years old. Replacing it would run about 20k

2. A/c units- 1 is 2006 and may need replacement soon and the other one is 30 years old and doesn’t work.

3. Outdated electrical panel

I like the house I’m just not sure if it’s worth it with these kind of needed repairs. What can I do to make sure this house is worth it?

First off you might want to consider investing in those 500,000 into out-of-state properties. Talking to good real estate agents like myself from other states and getting an idea of how far your money can go in those dates is always some thing I would recommend. Personally I think Florida is a great place to invest, I own multiple cash flowing properties here in South Florida and I also manage properties for out-of-state investors. However I do have to agree that Texas is also really great and have myself considered purchasing there along with Utah and Colorado. I recommend the book by David Green in out-of-state investing. If you have any questions, I’d be glad to help. Even if you do not choose me as your agent IM HERE TO HELP. I LOVE REAL ESTATE lol. In either case welcome to the investment world and I wish you all the best 😊

I agree with most of the posts here you should increase advertising and marketing for the buildings but you should also consider incentivizing renters with higher credit by lowering move-in costs. Like maybe have them pay only first month and deposit rather than first month, last month, and deposit

  very helpful thank you both. I really appreciate it!

I should also post that adding this room would only take away a portion of the living room space, not the whole thing. So the house would still have a living room

 I’ve been hearing that appraisal law has been changing And would like clarification on this matter. I am thinking of converting a huge living room space in one of my properties Into an additional bedroom. Tenants have already gone ahead and made a faux bedroom by installing a curtain that wraps around the living room space turning it into a decent size room. Sing this made me wonder if I just add some drywall it really could become a nice sized bedroom turning the property into a three bedroom rather than a two bedroom. However it does not have a window. I’ve been hearing mixed information on this and would like some clarification if I do need to have a window in order for the space to be classified as a room or if just lighting will do. Also what other qualifications does it have to meet in order to be classified as a room in an appraisal?

I’ve been looking to invest in a dilapidated multi family property that needs a lot of repairs but its in a very excellent area and in a very safe neighborhood. Only problem I notice is that it has a very very very tiny backyard space that’s more of a walkway than a backyard space. Should this be a dealbreaker? Would I have trouble reselling the property later on due to this?