All Forum Posts by: Joel Rodriguez

We are analyzing this coming back deal, a few month ago  we offered 10k less than the asking price, and now that the previous buyer couldn't close,  we seem to be the first on  the seller list. So far we have bought one single family in the area (Ready to rent), this would be the second. We have some concern that hopefully you can help me with.

- Is a 1930 home consider a historic property?

- How Hard, regarding permissions and codes upgrades can be turning this property 3/2 single family into a Duplex in Miami Gardens, Florida?

This would be the first time for my partner and I, we have never done a property modification. 

Thank you very much in advance!

So @Justin Jocewicz let us Know how the process evolve, congrats in your first portfolio loan! Take Care.

Thank you @Marlon Wilson I'm enjoying it a lot, wish I had more time!

@Darren Sager it does exist! That exactly what I ment! I was just looking for the tab news in the main menu, I see its under learn, ups, pls disregsrd my post.

Thank you! 

Wouldn't be great to have a professional BiggerPockets News Room / Service?

@Joshua Dorkin @Brandon Turner have you consider it? As a newbie I would love to have all the RE and business related news in one site, you guys count on us to find leads, just need to figure it out how to make professional news out of them.

What do you think, BiggerPockets  community?

@Jose Gonzalez I am new to this world, I've been studying a lot, when hear about the really good deals that were made just 3 years ago, it makes me a litter sad, but, this is the moment I choose to became a REI, so, I have a lot to do in front of me, looking forward, what I do is trying to analyze mls deals using bigger pockets analysis tools and see if the number make sense, with my lack of experience there are some deals that still can work, in theory, but I know I have a lot to learn about evaluating deals.

I also like the idea of buy and hold, while getting positive cash flow, from the beginning, the market fluctuations does not really affect your property value, till you are ready to sell it.

I am ready, willing, but not able yet to buy mi first deal, but when I get there, I won't be waiting for the market to be better, I'll keep looking till I find a "decent" deal to put my money to work for me and/or with me.

Don't get me wrong I may take more Than 2 years, but I doubt it, deals are been made in Miami today, Is a fact, I know a couple of investor doing it. What do you say @Account Closed 

Take care!

Welcome @Howard Weiss Lot of information here, and more to come. 

Let me ask you something that just pump into my head, what do you think about big stores Like IKEA, pros and cons to use them vs a smaller or company, any tip from inside?

Take care.

 Ok, nothing to argue, your piece of advice is really good, for Brent and for me. It just feel like there is no way to find a good deal with low money down,  what would recommend for some like me, or Brent trying to start in the buy and hold business?

Hey Matthew, I recommend as many other here, that you stick to the facts. Find you ways to verify all the information, I am pretty sure after a solid research it should vary a litter.

Nevertheless, having said that, assuming the numbers are right I'll still be interested in the deal, but, I'll try by any means to make it cash flow positively. I am thinking in a couple of approaches: 

- Negotiate the price, (Nothing to lose) 

- As it is you first buy and hold deal I would consider self PM. (Labor the cash flow)

- As the deal is not requiring any down payment, and it seems to be putting about 20K in your pocket right away, I would analyse the deal more optimistically, IF and only  IF you have some money to risk, (bet, support losses, education expenditure), what ever you want to call it.

Take care!