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All Forum Posts by: Carlos Flores

Carlos Flores has started 40 posts and replied 841 times.

Post: Got first lease signed for first property :)

Carlos FloresPosted
  • Commercial Real Estate Lender / Syndicator
  • Dallas, TX
  • Posts 888
  • Votes 309

$850 rent on $45k isn't too shabby either. Way to go!

Post: Squtters rights?

Carlos FloresPosted
  • Commercial Real Estate Lender / Syndicator
  • Dallas, TX
  • Posts 888
  • Votes 309

Welcome to BP Misty. Do you mean encroachment? Pull out your survey so you can see exactly where the line is. Then send her a letter to remove whatever from your property by xx date or better yet have your attorney send her the letter. I'm not a lawyer and not familiar with next steps, but it seems to me that you need to protect your rights (in writing).

Post: Landlord Insurance: Choosing Coverage

Carlos FloresPosted
  • Commercial Real Estate Lender / Syndicator
  • Dallas, TX
  • Posts 888
  • Votes 309

@Terri - I think $1M per property is generally sufficient. I bumped one from 500k to 1m for less than $4. That wasn't for the full year, but I'd bet you could do it for $20-25. Yes, your MP should be higher.

@Don - Insurance costs more in this part of TX. My home insurance tripled when we moved to Dallas county from Williamson county (right outside Austin).

Post: Contract to sell a property prior to closing

Carlos FloresPosted
  • Commercial Real Estate Lender / Syndicator
  • Dallas, TX
  • Posts 888
  • Votes 309
Originally posted by Michael Quarles:
XV. RESELL: Seller authorizes the Buyer to enter into a sales agreement to resell the property during this escrow period. Seller is aware that Buyer intends on reselling the property for a HUGE PROFIT. All profits made by Buyer during this transaction relating to the reselling of the property are the sole interest of and solely owned by the Buyer.

That cracked me up. Do others use similar language in their contracts?

Post: Got first lease signed for first property :)

Carlos FloresPosted
  • Commercial Real Estate Lender / Syndicator
  • Dallas, TX
  • Posts 888
  • Votes 309

@Sam - Congratulations. You're on your way!

In another post you thought you'd be all in around $35k and be able to rent for up to $850. You certainly nailed the rent comps. How close did you come to your total outlay?

Post: my first short sale

Carlos FloresPosted
  • Commercial Real Estate Lender / Syndicator
  • Dallas, TX
  • Posts 888
  • Votes 309

Trying to give the home owner some quick advice about loan mod is one thing, but 115k for a 140k house is not a deal...even if it's still worth 140k now. I'd pass.

Post: Should I build my own site or use a pre-made site?

Carlos FloresPosted
  • Commercial Real Estate Lender / Syndicator
  • Dallas, TX
  • Posts 888
  • Votes 309
Originally posted by Jim Stardust:
Most importantly, you have to ask yourself this question (and be able to answer it), what do you hope to accomplish from having a website? Build traffic, improve image and reputation, distribute and share information, or just want something to put on your business card? The answer might help you choose which route to take and how much money/time you need to invest in having your own unique website.

Sound advice.

Post: Google Plus

Carlos FloresPosted
  • Commercial Real Estate Lender / Syndicator
  • Dallas, TX
  • Posts 888
  • Votes 309
Originally posted by Bryan Hancock:
Zuckerberg is the most followed person on Google+...ironic to anyone else?
Now that's funny...and ironic.

Post: business lines of credit

Carlos FloresPosted
  • Commercial Real Estate Lender / Syndicator
  • Dallas, TX
  • Posts 888
  • Votes 309
Originally posted by Rudy Butler:
I can get a $40k credit card from usbank with just the 80 paydex on a start up company 60 days old....you just have to build it right and answer the questions correctly.

Hey Rudy - I have a 3 yr old c corp with an 80 paydex, sufficient EQ, multiple trade lines (including 5 digit trade lines).

What do I have to put on the app to get a non-PG US Bank card? I don't want an inquiry on my personal credit either.

And if you can get a $40k card for a new biz, how high can I get without submitting tax returns?

Post: What is the Highest Your FICO Score Has Been?

Carlos FloresPosted
  • Commercial Real Estate Lender / Syndicator
  • Dallas, TX
  • Posts 888
  • Votes 309

I think Rudy is talking about Secondary Credit Numbers