All Forum Posts by: Juan Vargas
Juan Vargas has started 11 posts and replied 218 times.
Post: What % of your net worth is invested in Multifamily

- Investor
- Houston, TX
- Posts 233
- Votes 188
Just curious to know approximately what % of your net worth you guys have invested towards multifamily vs any other asset class or business.
Post: Multi family need your input before I proceed

- Investor
- Houston, TX
- Posts 233
- Votes 188
Without knowing more detail, generally expenses will run close to 50% plus or minus 5% of income. Like you mentioned, each property and each market will vary.
Post: Determining Value Add Renovation Costs

- Investor
- Houston, TX
- Posts 233
- Votes 188
You ideally would want to get a few bids from different general contractors and compare the extent of renovations of similar properties and the rents they are demanding. Typically it ranges from $3,000-$10,000 per unit depending on how large the property is.
Post: Mobile park lender in Pensacola FL

- Investor
- Houston, TX
- Posts 233
- Votes 188
@Daniel A Lee Kim You could reach out to Kevin Bupp. He specializes in larger mobile home parks in Florida. He may be able to point you to a lender.
Post: Do you find value in this?

- Investor
- Houston, TX
- Posts 233
- Votes 188
@James Kendall, yes adding a hypothetical property into a report is a great way for owners to see it and visually compare it to the property they own. Another way is by adding a bar graph which demonstrates the capital lost when they weren't run properly and by showing the potential value they could have had and traded for.
Post: Will banks allow a full owner carried 2nd for no down payment?

- Investor
- Houston, TX
- Posts 233
- Votes 188
It is not likely commercial lenders will allow you to acquire a property with none of your own capital as they typically want you to have "skin in the game". Having said that, it might still be worth pursuing and contacting many banks if the owner is willing to be creative.
Another option you can explore is to bring in a partner that can provide some of that capital that banks may require.
Post: Coming to terms w/ seller on 5-unit w/ signif. negative cash flow

- Investor
- Houston, TX
- Posts 233
- Votes 188
I think your best bet is to submit an offer at the price that works best for you. They most likely won’t accept at this time but situations change and they may turn to your offer later.
Post: Coming to terms w/ seller on 5-unit w/ signif. negative cash flow

- Investor
- Houston, TX
- Posts 233
- Votes 188
@Jocelyn Canfield I know this may not be what you want to hear but it is highly advisable to focus primarily on numbers when analyzing a property. In this case you may be at -$2500, you should always do your best to acquire properties that are cash flow positive as they can become a burden otherwise.
In addition, like @Russell Brazil mentioned, you may not be able to live on the property if it is zoned commercial.
Post: Do you find value in this?

- Investor
- Houston, TX
- Posts 233
- Votes 188
That's definitely a great idea. But I agree with @Gino Barbaro in you should add pics. In addition to that, you should add bar graphs that back up your article. People like to visualize and want to see facts, helps them make decisions easier.
Post: House Hacking Opinions

- Investor
- Houston, TX
- Posts 233
- Votes 188
I know the original post was from 12 months ago @Christopher Anello. However, if you are still looking to house hack make sure to listen to http://biggerpockets.com/show196 as they guys discuss the tax and 1031implications of house hacking. It starts around the 24 minute mark if you'd like to listen.