All Forum Posts by: Luis Leiva
Luis Leiva has started 10 posts and replied 24 times.
Post: How To Do A Virtual Showing & Virtual Open House For Real Estate
- Residential Real Estate Broker
- Scotch Plains, NJ
- Posts 26
- Votes 1
Today we cover how to create a virtual showing and a virtual open house to keep both you and your clients safe against the coronavirus aka Covid-19 . When things get difficult we get creative, don't let this crisis get you down. Now is the time to show what you are made of.
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Post: Good investment from sheriff sale
- Residential Real Estate Broker
- Scotch Plains, NJ
- Posts 26
- Votes 1
I’ll be more than happy to explain message me the week of the 22nd and I’ll explain how it’s possible l. I’m currently out on vacation with limited internet access
Post: Good investment from sheriff sale
- Residential Real Estate Broker
- Scotch Plains, NJ
- Posts 26
- Votes 1
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $238,000
Cash invested: $7,000
3 units and commercial space. bought it at a sheriff sale.
Post: Call notes from discussion with my syndication attorney
- Residential Real Estate Broker
- Scotch Plains, NJ
- Posts 26
- Votes 1
William, would you recommend the attorney that you spoke to? I am in search of one, any information would be great. Thank you
Post: Is a room in house a good investment?
- Residential Real Estate Broker
- Scotch Plains, NJ
- Posts 26
- Votes 1
Originally posted by @Will Gaston:
@Luis Leiva the very first thing I would do is check with Zoning and verify that it is legal to operate. Do not move forward without asking the City first.
I have friends that own them and they are a high profit and high management business. You'll likely have to deal with drama amongst tenants, monitoring the utility bills, lots of turnover, and the occasional police phone call. Is managing people one of your strengths? Because you'll likely be doing a lot of that.
Check out this thread as it may be helpful: Boarding Houses
Will, I have staff that manages our real estate investments so management is cool but the turnover and vacancy is what scares me because this would be a monster mortgage payment. Thank you for the tread, I will read up!
Post: Is a room in house a good investment?
- Residential Real Estate Broker
- Scotch Plains, NJ
- Posts 26
- Votes 1
Im not sure what they are called in Cali, but they are boarder homes, almost like a hostile but longer term occupants. every tenant gets a furnished room and they share common kitchens & baths.
Post: Is a room in house a good investment?
- Residential Real Estate Broker
- Scotch Plains, NJ
- Posts 26
- Votes 1
I have the opportunity to buy 3 room in houses (33 total units) that are in a good town and in great shape. The properties are totally renovated and have about a 12 cap. I am a seasoned investor but I have 0 experience with room in houses. I am worried about constant turnover or high vacancy rates. If anyone can add some insight, I would deeply appreciate it! Thank you
Post: Do Your own Credit Restoration
- Residential Real Estate Broker
- Scotch Plains, NJ
- Posts 26
- Votes 1
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Post: Short Refi ?
- Residential Real Estate Broker
- Scotch Plains, NJ
- Posts 26
- Votes 1
i've been hearing a lot about short refi's. has anyone had an experience handeling these? I understand it very similar to a loan modification or a forbearance, but the deficiency is forgiven. Please let me know if anyone can add to this.
Post: How much can I expect to sell my note for?
- Residential Real Estate Broker
- Scotch Plains, NJ
- Posts 26
- Votes 1
help the client refinance into an fha loan then you can exercise your due on sale clause and redeem your full investment. Just an idea.