All Forum Posts by: Luis Canino

@Frank Patalano capital or lack there of, I have great credit and a sound base for business. I need to make some connections, network more. But Lack of money is holding me back.

So I understand clearly, you Have never held a sale associate license but your studying for your broker license? If this is the case you will most likely need to have your sale associate license active with a broker for two years prior to getting your brokers license. You must work under a principal first.

Looking to network with:

Contractors

HML

Other investors

Agents

Attorneys

etc

Start networking, look for others that are doing what you want to do and ask questions like your money depends on it. It's a process and find a good attorney and talk to them about paperwork etc and costs associated to draw up paperwork.

Interested in meeting people in Tampa/Brandon area of Florida. If you are active in these areas contact me pm. I am interested in possibly grabbing coffee. Thanks

Outstanding Reno! Beautifully done, this is why I keep coming back to BP. This has inspired me, never fails.

Why buy a property that wouldn't cash flow? Don't force it, the math works or it doesn't. If you have one major cap ex happen you are hurting financially in this property for years to Come. I always work the numbers worst case scenario, and I always want to see worst year and trailing 12, of it doesn't work (cash flow 400+ after debt service and all expenses) I don't buy it, or offer a price where it will work. Numbers never lie, if you stay true to a system that will cash flow for you at a min you are protection yourself and your money. Buying a cash flowing property is buying an income for yourself for a certain amount invested. If it doesn't pay me monthly I don't buy it.

Can anyone give specifics? Can you spell out and explain how you come up with valuations and ARV? What tools and give an example showing the process?

Dave ramsey offers a great program for paying off destructive debt. We used and followed his program until we were debt free enough to buy properties. Also you may consider commercial property, it's a larger down payment but since they count 75% of rent towards your income theee may be a property that will help you qualify, but again a lot more $$$ down. Pay down your debt

You're better off going to a local meetup and rubbing shoulders with some experienced investors in your area. You would be pleasantly surprised what you find and that people are willing to teach and help for little to nothing if you're willing to be humble and offer some value for their time. Offer to run errands, make hardware store trips, bring capital to the table etc. In Essence trade something of value for their time, knowledge and ability to teach you or walk you through a flip/rental/rehab. Best of luck