All Forum Posts by: Gualter Amarelo

@Rohan E. Great question and I can totally understand why you want to use this strategy.

That said, yes, although $200k is possible in these 3 cities, that price range is only available “off-market”.

The best strategy is to choose 1 city and start running some good marketing campaigns or connecting with some great wholesalers and real estate agents in the area.

I currently invest in Fall River and although I have purchased a number of properties in this price range, I want to point out that most have been off market and have needed a good amount of work.

Since you are okay with putting a larger down payment into the properties you may be better served looking for the larger small multifamilies like 5-6 unit buildings that would hit that $60k-70k per unit price range.

Cheers to your success!

@Sharvita H. I dont know about that... As a real estate professional I am always looking to get my name out there so people know to bring me deals.

We are always looking to buy more property and it is important for sellers and people who know sellers to know how to find you.

Either way, as long as you are always doing things the right way you shouldn't have anything to worry about.

Cheers to your success.

@Alexander Felice what a cool opportunity!!

BiggerPockets is definitely the reason my business partner and I have been able to aquire 60 units in Fall River, Massachusetts in only 3 years.

We are currently acquiring 14 more units including a 5 family, 3 family, single family flip and an old Catholic Convent that we plan on turning into a community home. But might be facing some challenges due to this being a new niche for us. That said we are choosing this direction because of Covid 19 and want to get more inane with state and federal funded projects since they pay rent FOR thr tenant.

@Kaylee Pratt thanks for the opportunity!

Purchase 24 Condos in Fall River for $840k with no money down, sold 1 for $106k, sold another for $116k and we are doing a cash-out refinance for $1,725,000 that is putting $900k TAX-FREE in our pockets and paying back our "high-interest" lenders. The condos bring in $18k monthly.

Cheers to your success!

@Sharvita H. As long as you always add value and treat people with respect. BP is a great place to share and help others do well in their real estate investing.

I am so thankful this website existed when I started 8 years ago and I wouldn't be a multimillionaire today if it wasn't for the forums and the podcast.

Keep sharing, keep giving back and just make sure to be a decent human being when you are writing your posts.

Cheers to your success!

@Todd Powell you have the option of staying self employed my friend. My business partner and I have been buying real estate together for the last 3 years and when times got tough we used to rely on our real estate license as a great stream of income that wasn't a 9-5.

The world is missing investor friendly real estate agents and we are constantly looking to hire more to our team to work with our investors across the country.

If you don't have to get back to the W2, you may want to consider going all in on YOU.

Cheers to your success!

@David Wurzel our attorneys are lined up and ready to serve eviction notices the day it becomes legal again.

We have hired a number of attorneys to ensure that one of them will be good at cutting through the red tape and get us to the finish line.

In the meantime we are holding off on deferred maintenance and only taking care of emergencies while keeping in line with the governments request for social distancing by allowing tenants to use credit cards to pay rent online.

Lots of big deals will be hitting the market soon!

Cheers to your success!

@Karl McGarvey SELL THE BOAT

buy another Rental and get a side hustle.

This is the perfect opportunity to sure up your finances!

Store that cash in reserves until you have enough for your next down payment and get your real estate license.

Start hunting for motivated sellers ans gain a commission from selling peoples houses until you can buy your next one.

Time is of the essence! The big deals are coming, but they will come and go FAST.

Cheers to your success!

@David Czech I love that you are storing cash away in a reserve account.

The only thing that scares me about this post is that sentence about saving for a catastrophic event.

What we think about we bring about and what we focus on expands. I know that sounds crazy, but let's just pretend that is how the universe works.

You should instead be storing your reserves away so the banks and private lenders will feel much better about lending you money on your next deal.

I hope you can see the subtlety there and how shifting from savings for fear to savings for abundance will dramatically change your business.

We don't use our own money in our deals. Instead we use our reserves as proof and collateral for our lenders to trust us with more money on bigger purchases.

You can always make an insurance claim or take out a small loan if something catastrophic ever happens.

I hope this helps you.

Cheers to your success!

@Andrey Y. I like the sound of those returns and haven't seen anything like it from the syndicates I have reviewed.

I would be very interested in interviewing you on my podcast and learning more about the deals you have been involved with.

Cheers to your success!