All Forum Posts by: Jose Tamayo Jr

@Jeremy Wells

I had been absent for quite some time on this forum. Back on the scene and want to start searching...

@thomas

Welcome and this site has its benefits ask lots of questions, and don't be afraid of asking a question. I also believe that you are close to Brandon's back yard lol...

@Jimmy Kiefer

No problem I am glad I could help out, But since you already started then now you need to keep on going and not stop!

Glad I could help

@Jeremy Cade

If you have your CASH BUYERS ahead of time, you should know their criteria for structuring the deal. Plus you will create a relationship with them and when you have a deal they are simply a phone call away...

So if you are working on a deal I would suggest signing the contract 1st then bringing in the cash buyers, Im not saying that they will go behind your back, because if they want more deals from you or another Wholesaler they will like to keep their reputation positive and so will you the wholesaler!

Don't waste the Investors time with deals that are not deals...

Bring only good deals to the table and you wont have a hard time finding a buyer.

Hope it helps?

Jose Tamayo Jr.

Endow Investing

@Jimmy Kiefer

Create a spreadsheet in excel that will help run the numbers quicker.

Check out this webinar from Brandon, https://youtu.be/-YTvYm-kb1w ITS and AWESOME break down...

You need to know the following:

* Find out what the previous landlord pays for (example: water, 

* Actual monthly rents (not pro forma) in the near area use zillow or craigslist. or if you have a realtor friend 

* Vacancy Rate (get from local realtor)

* Maintenance & Repairs (i usually use 5%)

* Property Management (I use 8% to 10%) even if you are going to manage it your self.

* Property Tax's (look at county assessors website)

* Insurance (call local insurance company give them the address)

* Mortgage payment (download a mortgage calculator for your phone)

* Capital Expenses

* All utilities: 

Hope this helps.

Jose Tamayo Jr.

Endow Investing

Cash only usually means CASH ONLY! but you can contact the bank to see if you can possibly use a hard money lender to close fast on the deal?

@Nic B.

If I am not mistaken any 4 unit and bellow is considered residential or sfh and multifamily...

In Zoning it depends on where the property is located and what the city approved I would verify zoning issues with your local planning department at the city hall...

I have seen a 4 plex listed as a single family, but on the notes they always cover them self's by saying buyer to verify all info etc...

Hope this helped.

Jose Tamayo Jr.

Endow Investing

@Lesley Govan

* Go to a REIA in your area and network with Investors.

* You can post a newspaper add for a discounted property for all cash buyers only.

* You can put up a craigslist add

* You can put up bandit signs (check with code compliance issues for your county)

* Social media, post an add

* Make flyers for the property / send via direct mail

* Network with a local wholesaler in your area that has the experience and do a 50/50.

There are plenty of other ways to do it but these are just a few ways. I sure hope that helps you. 

I'm not sure if everything I posted is legal or not? can anyone please correct me if I am wrong? If anyone has better ways I am also interested in learning new ways.

Jose Tamayo Jr.

Endow Investing

@cornelius charles

It is always good to read from your post! It reminds me on what I am currently not doing well. I have not yet gotten to the #'s on my direct mail as you are currently doing. But I started slow and am moving up slowly. I am glad to hear that you got your contract back and signed... Congratulations! Keep up the good work. As for your wife, she will acquire lots of on the field experience and extend your network! 

You and your wife give me fuel to keep on doing it and like you said at the REIA "hustling".

It was awesome to have meet you, I had to leave early that night but since you attended I stayed just to speak with you.

Let me know if I can help you in any way.