All Forum Posts by: Gilbert Dominguez

http://www.534rent.net/company/about,

Try these folks they are property managers and say they service real estate investment groups. You might give them a call and try to get a lead for your area. 

I almost made mistakes like the one Jay is talking about but it just so happened I got to witness a good investor friend of mine get started on a project that he bought for $125K and had figured needed $30K of repairs and comps showed it would be worth $400K on the market. Just the ARV might have been true if he got the project done within 60 days but he believed someone that told him it could be done. Well short story is the project took 2 years to complete and $325K in rehab costs and the house appraised for and sold for $325K, Yup !! now take from that agents commissions of 6% and you end up with a 6% loss and two years down the tubes.

I won't go into all the warnings I gave my friend and how I tried to talk him out of doing that project at that time of year or in that particular real estate market but suffice it to say that experienced investors sometimes will believe things will somehow work out, I mean they have to work , right? hehehehehe. By the way my friend was one of those type of real estate investors that knew everything and has seen it all. He was 80 years old at the time, owns about 20 properties and of course is a multi-millionaire, been in real estate since coming home from the Korean war. It happens folks !!!

That particular house could have been torn down and a band new house built for $240K and taken far less time to start and finish. We live and learn. I only observed it but I will never forget the lesson learned about knowing who to do business with. 

In any case, yes you do have a legal obligation to fix water leaks , anything that can contribute to or become a health issue. You must maintain your property as an owner in good condition. I would say yes fix any and all problems with the property itself , meaning the building with tenants. 

I have $10,000,000.00 worth of deeply discounted properties. Send the money to my office in Cuba but I guarantee you that your money will be deposited into Escrow. :)

@Christopher Telles,

You mean we are supposed to make money at this. Geez !!! what's the fun in that ?

fix and flip, fix and flip, fix and flip, Nancy you can have the tenants. You can buy and hold. hehehehehehehehhehehhehehe

All I can say is come try it. I think you will run out of money right after you pay your building permits but what do I know. hehehehehehehhehehehe

There are a couple of organizations in Chicago that will help you if you are upside down on your mortgage. You can try but you might need to spend some time in Chicago to get to these folks and have a talk with them. Look up the housing programs in Chicago and eventually you should get to the folks I am referring to. They might help you refi at a lower rate. They specialize in helping folks like you. Then if you can bring your payments down somehow this situation may be easier to live with. 

What the hell. You people think this is the MLS. listing houses for sale? Try the market place this forum is the wrong place of your listings.

http://www.privatemoneylendingguide.com/borrowers/private-money-lenders-in-Missouri