All Forum Posts by: Jordan Melendez

Brian Gibbons Valentina Naumenko Dan M. Rob Zavisza Thank you for the responses

Thank you all. Brian Gibbons would I still obtain an option fee on an ROFR? I'll be in touch with you Valentina Naumenko , I just need to get my feet wet in learning the ins and out and obtain a couple properties before I outsource property management. Thanks Dan M. Rob Zavisza for your insight as well. I'm thinking of holding onto the property and figured getting the cash out of it in a year or two would help me purchase more properties but I can do that without selling it as well.

First of all I am a newbie and am ready to dive into real estate investing while working my career as a LEO. Any guidance/advice is greatly appreciated. So I have a SFR 3/2 in the central Florida area, B community. I purchased it on an FHA loan for 179k a little over a year ago and now owe 172k on it. The property is now worth approx 200k. The mortgage PITI is $1130 and market rents is about $1400-$1500 in my area. I have a potential tenant/buyer who I know through work that between the spouses earns approx $5k in monthly income and after speaking with them they are interested in a lease option type of deal as they need to work on their credit in order to later obtain a mortgage. How can I structure this deal to make sense if it makes sense to even do it or should I just outright sell and use the cash for another property that cash flows or should I just rent it out and wait for market rents to increase? I wanna make the right move as my wife and I are stepping into REI for the first time with this deal and want to Buy and Hold SFR and multi family and try our hand on the BRRRR method moving forward. Cash flow is the goal I wish to begin achieving. Thanks ahead of time for your thoughts and advice.

Welcome to BP

Welcome to BP

Thanks Brandon I will be posting to find some local REI guys that are hopefully a part of BP and are willing to mentor me, I'll do whatever it takes to be an asset to any mentor willing to show me the ropes...

Thanks Jenkins, I'm feeling welcome.

@ Braden C That's incredible I would love the opportunity to build a network with local investors and would jump at the chance to learn the ropes. If you're willing I would like to meet up at your convenience to learn the ropes and hopefully my NEWBIE self can be of some use to your success as well. I really am new to this and am eager to learn and work for the education?

Welcome to BP

Thanks for the info Paul Timmins, I'll be sure to look into rei clubs asap