All Forum Posts by: Francois Acosta

(I wont be buying this, its for practice purposes only) Hi BiggerPockets members, I'm fairly new to real estate investing and would like help analyzing this property. I have heard the entire BiggerPockets show and now want to get into analyzing deals. (Wanted to familiarize myself with real estate language first) If, I were to crowd fund/private money for the downpayment when would I be paying back the investors? If this were a good property? I would get a conventional mortgage for the loan. 

This is the property: https://www.realtor.com/reales...

The property is a main house 3bed/2bath + a fourplex in the back 1bed/1bath

The property is listed for: $749,000 I could negotiate the price lower?

Down Payment: $150,000

Principal & Interest: $2,791

Property Tax: $780

Home Insurance: $187

Total Monthly Payment: $3,758 this is the price I would pay to the mortgage every month?

Maintenance Expense: $12,000 this is per year? What does it typically include?

Gross Schedule Income: $79,000 what does this include/mean?

Insurance Expense: $4,000 per year? What does this mean?

Trash Expense: $4,800

Those are all the numbers available can you help me break down? How much are the rents? How long will it take to pay back investors if I were to syndicate/crowd fund/private money route? How does it break down?

Thanks

^ I would be extract careful dealing with people from Africa since fraud and identity theft is high there.

@Keyur R Patel

Welcome Keyur, if you’re a beginner it would be best to understand the terminology and what goes into investing. Go to the real estate investing section at your local bookshop or library and read all you can. Start saving money to invest when you think you’re ready, maybe you won’t have to if you learn enough. Listen to BiggerPockets podcast as much as you can.

Good luck

@Alejandro Sanchez the MLS is a nice platform to start at

Hi everyone, I'm a beginner that's been learning over the past months about the basics. My question is knowing what you now know, how would you finance your first property? Would you go the conventional route or another way?

In the process of practicing analyzing properties

Thanks for the feedback and informational forums. 

Welcome to BiggerPockets Christian, it was a great choice to join this community, theres a lot of experts and knowledgable people that are willing to help. Since, you want to embark on the real estate journey, theres a handful of things you might want to do before buying property. There are other options available than an FHA loan, its best you started saving if you plan to buy property. Your market is much better than mine, do your research on neighborhood, demographics, schools, etc...do your research, explore the forums, but don't wait for the market to cycle.

Hi Adam, its stated that one should not trespass on the pre or foreclosed property or trespass at all, but to get ahead of the big fishes on a great deal you could be polite and go door to door, this would put you ahead of other bidders since you know what needs fixing. 

@Nathan G. The lights work. They may be weathered/old and need to be replaced. I say this because they are strong outdoor lights, however they make a buzzing/vibrating sound through the wall into my room. This runs all afternoon till the next morning. It disturbs my sleep/ it’s annoying and not normal I would say. What can I do, if the property manager isn’t on it. She has called an “electrician” to inspect it, he said it’s fine but he even clarified that the there is the an ongoing sound. Needs to be replaced, turned off... thank you

Hi Biggerpockets, this post is regarding my property manager and the company not resolving the issue. We rent an apartment, which we always pay the rent on time since 2013 and never had problems with the property. When we first moved in these lights didn't function they were off or broken. Later, the turned on or got fixed. Recently, I am busier and need to concentrate which these lights are bothering me. To clarify, the property manager has sent an electrician twice to fix this issue but hasn't fixed anything. The lights work and nothing is being done. I understand they are strong lights but they may be weathered/old and need to be replaced. Outside my room there are two lights similar to these HID Wallpacks 400W - 26W that are buzzing/vibrating against my wall and the noise comes into the room. They turn on around 4pm and run until the next morning. Now, strangely they turn on at 2pm in the afternoon, why? And they only turn on this side of the complex. In the other units there lights aren't on. 

The property manager isn't a problem solver clearly

The company relies on the property manager to deal with it but is sort of refusing

I need advice or what can I do. Thanks 

Originally posted by @Ned J.:

I would spend a lot more time reading, listening and learning......before I started to post broad ranging forum posts :)

Kidding aside....from your responses, it sounds like your are very green to the most basic stuff. I would spend some time reading about the basics and then start asking more targeted questions. TONS of info on BP.

If you don't know some of the basics, everyone's reply on here is going to be pretty confusing and just result in more questions

 thanks ned, you are right about being new new. just wanted to get some in put