All Forum Posts by: Maria Luna

Hello dear investors,

I would like to hear what percentage interest rate have you guys paid for land contract/owner finance??

I found a home owner willing to do a land contract with me on a SF but he’s asking for 8% interest rate. I fill like that’s to high, what should I offer?

@Frank Maratta

That’s great to hear, congratulations!! It’s really encouraging to read that this has worked for somebody else.

I for sure plan on managing everything my self for as long as I can. I really don't see the point on paying for something I'm more than capable of doing. Been managing my rentals here in WA my self. Looking in to BRRRR is part of my plan, and feel optimistic that this can be done. And if it takes me 5 years instead of 3, than I'm on with that as well.

I really appreciate your advice.

@Fabiola F.

That would be 5K net cash flow. I love how you broke this down for me here, makes a lot more sense. I’m for sure gonna explore all my options and see where I end up at.

I appreciate your advice.

@David Abbate

Yes I agree. I feel like that’s were I’m gonna have to work harder, trying to find a deal that makes sense for what I’m trying to do.

@Charles LeMaire 

Wow! I appreciate you taking the time to write all this awesome information.  I meant 5K, I apologize for the confusion. 

@Tj Hines 

Thank you for the advice! Yes that’s kind of my plan, to find a property that needs some work. 

@James Kojo 

Thank you for your advice, it’s greatly appreciated. Yes that’s one thing I been wondering about, my debt to income might be a problem. So my next step is to go talk to a lender and see what they say. 

I have also been exploring the idea of syndicating or maybe just partnering with somebody. 

@Jonathon Weber 

I appreciate the advice. Yes, my next step is to find a credit union who does comercial loans and go from there.

Hello Investors,

I’m in need of some advice here with this plan I have. My goal is to achieve financial independence in 3 years by investing in apartment buildings. I need to get $5000k cash flow per month to accomplish this. I currently have $150k cash in savings that would like to put down as a down payment on a small apartment building. I have been looking at the Michigan market to do this, Detroit and suburbs of Detroit to be more specific. That’s one investment.

Plan for second investment:

I have about $200K equity on a SF rental. I plan to get an equity line of credit and use that money as down payment on another apartment building in Jacksonville since that’s were I plan to retire eventually. I done my research on both markets and feel confident about investing there. I have only invested in SF here in WA, which I manage my self.

What do you guys think? Am I on the right path to achieve my goal? Can my freedom number be accomplished through this two investments? What would you guys do different?

Would love to hear from investor who invest in apartment buildings in this two areas.

Thank you in advance!

@Isaura Orellana 

Hello dear,

I appreciate all the research you shared about Detroit. A lot of people on BP are very vocal about Detroit, but have never been to or invested there. I remember posting something about Detroit here on BP and got some pretty negative comments about it as well. But it’s ok, everybody has their own opinion. Don’t take it personal. I have been researching Detroit for the last two years and decided to move there to invest in real state. Hopping to be there sometime next month. I don’t know if it’s the best decision or if I’m going to regret investing there, but it’s the decision I made and gonna go for it. Only time will tell. Maybe one day all have a success story to tell on BP. 

Welcome to PB and best of luck!