All Forum Posts by: Juan Carlos Castillo

So if lets say someone has a handful of properties they wanna sell, could they bounce around between the properties and sell one off every two years to avoid the capital gains?

@Charles Carillo

Would an HOA be forced to disclose any upcoming/past assessments?

Also one of the lenders I reached out to pretty much said she's got a don't ask don't tell policy on HOAs if I can out down more than 25% but that my interest on the loan would be closer to 7%. Is that a little sketchy? Should I be reaching out to multiple lenders?

So I found a couple of properties that I am really interested in, however the HOA they belong to do not have the adequate cash reserves I need to take out a loan. How would I go about finding a loan for this? Is a private lender my only choice?

 Yeah it does need a bit of tweaking, no rehab was taken into account because I haven't had anybody go and inspect the property. but from the pictures it doesn't look like it would need any.

As far as closing cost goes, I think I have it set at 4% purchase price. what would you recommend to allocate for closing costs?

Cool, so lending shouldn't be an issue. Me and my sister are already working on an agreement and have a good history of partnering on things together

@Jaron Walling, I don't mind showing the numbers, here's an Excel sheet I made for the area, I just started researching the area so it's got a lot of work left before it fully comes together. https://docs.google.com/spreadsheets/d/1UCiNFd_gGycV8YVyABf7163qvc4ZqBHpgvpz77Wl8vY/edit?usp=drivesdk

Thank you everyone. That's what I was thinking. The schools rating on Zillow is the lowest I've ever seen and did notice a boarded up house just down the street on google. However I do like the numbers and that it's only 5 minutes from UAB/downtown. I will have to carefully consider this.

😊 Thanks again. @John Patton @Briannan Burns @Maureen McCann

So my sister and I want to jump into real estate and are looking into the Birmingham area for our first purchase. The reason for this is because running some napkin numbers it appears to cash-flow way better than anything in Florida (which doesn't really at all).

My question is as far as getting a loan goes, how difficult would that process be to accomplish with two people? Should we look into forming a partnership? We have the 20% down payment and both hold steady jobs with no debt. 

Thanks,

Piggybacking on this three year old thread, I have just started looking into Birmingham and noticed a lot of the zip-codes mentioned here are Northeast of the city center, meanwhile I was finding better cash flowing properties to the Southwest (35204), can anybody give me insight on to whether this is a bad area?

@Daniel Highsmith @Clayton Mobley @John Patton

One of my old bosses is a very successful man I look up to in terms of his business and real estate. During my last days at the company he realized I was trying to get into real estate and gave me a piece of advice that said helped him out a lot when he started out 40 years ago.

Burial Plots. 

Has anybody bought and sold burial plots? I know a lot of people are getting cremated now, but could this provide good returns? Whats the hold time on something like? Is this something I would have to advertise for sale on a site like grave solutions or would I just hold it till someone random person knocks on my door asking if I'm interested in selling?

What a tease!!! give us some more pictures!! <3