All Forum Posts by: Jonathan Jaime Velarde

@Joseph Pratt

What's up devil dog!?

I could very well do that and occupy one unit with my significant other and rent the other out to a quality tenant. 

My family company is called ABC Valet! My father moved to Santa Monica with $1000 and turned it into multi millions. He's my inspiration.

JV

Nick Falcone I will make a point to research steady and fundamentally sound housing markets that yield good tenants no matter what the economy brings. I guess these would be your "blue chip" tenants! Thanks for the information! JV

Chris Lopez Over the years I've become great at handling my finances and not letting emotions take over. If the numbers make sense I am about it! I'm currently building up my reserves right now and upon departure from the Marine Corps I will have about $20K cash $20K Roth IRA, along with college paid for via my military benefits. Thank you for the information and I look forward to starting my career in RE investing very soon. JV

Jonathan Twombly Cash flow is definitely my most desired goal to achieve. I'm not interested in fixing and flipping at the moment. I don't let my emotions take over when it comes to money and I realize there are deals everywhere if you look and make the right connections. I appreciate you words of wisdom and hope to implement them soon. I've been reading and talking to dozens of people, but I'm someone who likes to take actions rather than wait wait wait. JV

Happy Saturday!

In about a year I will be back in Ventura County, CA and will be saving up towards buying my first property. I will be attending school w/ the Post 9/11 GI bill for free, working in the family business, and living at home saving tons of $$$. 

Would it make sense for someone buying their first property to buy in a hot market like Denver, Memphis, Indianapolis, San Antonio, etc. and hire a PM company to run the show. Obviously I would do my due diligence and have a good exit plan in place, but I just want some input from my established investor friends. 

Any comment is great information so please feel free to share. I appreciate your advice as I am a learning REI.

JV

@Joseph Gallant

Thank you for the kind words of advice.

I plan on going back to CA to finish school (free) and save up to invest elsewhere where better priced properties are. Although, if I can find a MFR in my area I might do the same thing you did!

Thx,

JV

@Caleb Heimsoth

Where are you located and how are you financing your first deal?

Thanks for sharing!

@Account Closed

I can see how problems might arise here. 

Thanks for sharing!

JV

Greetings!

I think that most tenants would actually appreciate the simplicity of paying the landlord a little more for services (not fees) to ease up their lives. This way they don't have to call around and deal with reps on the phone (us investors can do that to make some more $$$). Also, when it comes to keeping the property clean and in shape if they pay us to hire our own people than when they leave our property they won't have much to worry about since they've been paying their rent on time and everything has been taken care of since they've also been paying us to handle their dirty work. 

I don't have any properties yet, but this is something I would like to implement as part of my system. The less my tenants have to worry about with my property hopefully the faster my rent will be paid.

I've seen nice apartment buildings in Los Angeles with DO IT YOURSELF pet cleaning stations. This seems like something that might be of interest to my fellow BP members!!

Great advice, thx!

JV

@Larry Turowski

I am yet to buy my first investment property, but that is one thing I will keep in mind: home inspections! 

Unless you can steal a property for much less than what it will be worth with a little TLC I think a home inspection is imperative just to cover yourself from expensive repairs. 

Thank you for your insight and I wish you best of luck on your future in RE investing.

JV