All Forum Posts by: Fernando Gomez

Hello!

Does anyone know a reputable multi family builder that operates in Texas?

Thank you in advance!

Hello BP family!

I am thinking about getting into Commercial Real Estate in Texas. This is completely new for me. I am looking at an office/medical space that according to the agent could rent from $20.00/SF gross to $23.50/SF gross. So I am looking at $20k monthly revenue?! Hard to believe. I feel like I am missing something here. Maybe taxes are huge? Or maybe the loan payment each month is large. I know that commercial real estate loans work differently. It could be amortized over 30 years but then a balloon payment is required. Is commercial real estate harder to rent out?

Thank you in advance!

Hello!

So I am stuck in my real estate journey.

I am trying to fix and flip my first property but I can't get a property. I've been making offers, sellers are even accepting the offers but once I do a rehab assessment I go immediately into the negative (bc contractors quote me more than expected) and I am forced to ask the seller to lower the price and we end up in disagreement. I requested quotes from 4 different general contractors and it was way above what I had estimated for the rehab. Maybe my contractors are charging too much? maybe I have to do the contracting myself? or maybe I have to get my own crew? or maybe the house was overpriced compared to ARV and the repairs needed?

I am also trying to figure out how to make my offers more attractive: close fast, no option. But I am often low balling because that's what my analysis is telling me to offer. If I want to keep the property and refinance it after repairs, that is even harder because I have to do everything under 75% of ARV.

I am using hard money lenders and on each deal I am usually paying 6-7k on holding costs, 10k closing costs, 25k-30k on comissions and selling costs and all rehabs have been quoted between 70k-95k. 

I am looking at a beautiful house price at $210k no offers, with an ARV of $333k. I have estimated 75k on repairs and still with a $123k (333k-210k) gap is not enough because most of it is gone in commissions, holding costs, etc.

Maybe I need to make more offers, start looking into off-market deals or connect with wholesalers. I have searched properties in auctions but you need a ton of cash for that. 

What areas do I need to improve? Thank you in advance!

Hello! I am looking for a general contractor in the Houston area to rehab a house. Preferably with reviews or references.

Thank you in advance.

Hi!

I'd like to run an inspection on the inside of a rental property to make sure everything is ok. I have not been inside since the tenant moved in. I'd to check for appliances, change HVAC filter, and all that good stuff. This is like a "preventive maintenance check".

Do you recommend doing this with a handyman or is there a company that does this? 

Recommendations for handyman/company that can help me with this in the DFW area are welcomed!

Thank you!

Hello!

I'm looking for an investor-friendly agent in the Dallas-Fort Worth area. Let's connect!

Hello! 

I'm looking for a contractor to rehab a single-family in the Dallas-Fort Worth area. Do you have any recommendations?

Thank you in advance. 

Hello!

Any landlord insurance companies for rental properties that you have personally used and recommend? How much does it cost to have landlord insurance in Texas?

Thanks!

Fernando

Hello everyone!

What companies do you recommend for professional mortgage loan servicing?

Thanks!

Hello!

I'm a new investor and I have some to little experience in real estate. I've a few properties in the US I'm currently managing and I'm thinking about purchasing my next property in Punta Cana, Dominican Republic to put it on Airbnb. This will be a brand new property, I have plans to hire an interior designer to make it irresistible for tourism. It's very close to the beach/airport and I am getting a great price for it. However, I have a concern; I don't live there, I will be managing it from Texas. My parents live in Punta Cana so that will make things a bit easier. 

I'd like to get some input from experienced investors. Any advise on long-distance real estate investing? Anyone that has invested in Dominican Republic that may have some info/lessons learnt/experiences to share?

Thank you!

Fernando