All Forum Posts by: Miguel Hernandez
Miguel Hernandez has started 24 posts and replied 65 times.
Post: How do we offer our Janitorial Cleaning Services
- Rental Property Investor
- West Covina, CA
- Posts 68
- Votes 23
Quote from @Charlie MacPherson:
See if your local library has access to Data Axle. That's a database of businesses that you can set your criteria, search and download.
Your filters should be:
- Your service area by zip code, map selection, town name, etc.
- Contact Title: Owner, CEO, President, etc. Or whomever you think is the right contact person's title.
- Gross sales: I'd suggest looking for accounts that are not too big for you, so maybe gross sales under $10M - but season to taste.
Then download all of the fields you need - contact name, business name, address, etc. Build your mailing list. Send out postcards, call and door knock. Doing that B2B is a lot easier than B2C.
Good luck!
Hey Charlie, great advise! Thank you so much I will definitely be getting started on this asap
Post: How do we offer our Janitorial Cleaning Services
- Rental Property Investor
- West Covina, CA
- Posts 68
- Votes 23
Hello BP members, I hope I am posting my question in the correct category, this seemed to be most fitting.
My family and I own a janitorial services company. We clean all types of commercial buildings as well as some assisted living homes. We want to expand our services to other companies and offer them any cleaning services they need. Thankfully, I have a background in real estate investing and that is how I am aware of BiggerPockets.
We are focused on building relationships with people that are interested in our cleaning services. We want to focus on assisted living homes, Air BnB’s, & commercial real estate buildings. Our goal is to target clients that need a consistent cleaning schedule. My questions is, how can we get in front of people that own these businesses or commercial buildings so that we may offer our services?
I know there are many property managers on BiggerPockets, so what would be the best way to market towards these people?
Post: 1031 exchange options
- Rental Property Investor
- West Covina, CA
- Posts 68
- Votes 23
Quote from @Gregory Chadwell:
Quote from @Miguel Hernandez:
Hello BP members, I have decided to 1031 exchange a rental property of mine. In my current situation I am prioritizing cash flow. Is there any investment strategies or ideas anyone can give me that might help boost my cash flow on this 1031 exchange? Thank you
Personally, I've done 3 1031's and it can be a little stressful if you can't find a property in time. I live in Racine County and would be avail to send and show you properties on market and off market too. I would cast a wide net because time is not on your side!
Hey Gregory, I am definitely interested in any deals you come across, Please send them over
I have about 5 cities I am targeting, all are surrounding cities of Milwaukee.
Post: 1031 exchange options
- Rental Property Investor
- West Covina, CA
- Posts 68
- Votes 23
Quote from @Karmine Cramer:
Hi Miguel! I own and invest in Racine WI. I grew up here and know the city well. I would love to connect you with my realtor Shea Gajewski to help you find a property in your buy box!
Hey Karmine, I am already working with an agent but if any deals come across your table please don’t hesitate to send them over, thank you.
Post: 1031 exchange options
- Rental Property Investor
- West Covina, CA
- Posts 68
- Votes 23
Quote from @Marcus Auerbach:
Quote from @Miguel Hernandez:
Quote from @Marcus Auerbach:
@Miguel Hernandez it might be too soon for an upgrade. 67K is not enough for 25% down on a decent quad. It may be enough to upgrade to a duplex in a quality area, but that is also tough under the time constraints of a 1031 - Milwaukee is currently the #most competitive market in the US per Redfin Feb 2025 report. Many 1031 exchanges I see will buy a property above fair market value, because that is still better than paying 25% or more in income tax. But that requires a big chunk of cash for the sale, that's why I said it might be too soon.
Hey Marcus,
I do agree it is a bit too soon for a 1031 exchange, but this property I have is not performing as I expected. I am not receiving any cashflow from this property. That is why I want to 1031 into something that has better bones and that will cashflow positively.
I currently don’t invest in Milwaukee, I focus more on cities outside of Milwaukee. I’m not sure if these areas are affected. The 2 markets I am very interested in at Racine and Kenosha. Maybe a 4 unit is out of range for me, but I’m hoping to get a tri plex or at least a duplex that performs better than the property I currently own.
What interests you about Racine and Kenosha specifically? We also buy in the surrounding cities and not in Milwaukee, but I would not rank those tow very high. If you want to stay on the south side then maybe look into Greenfield, West Allis etc - plenty of dupelxes there
What do you believe makes these 2 areas undesirable,
I like both areas because they’re in between Chicago and Milwaukee. Also the home prices arnt too high and rents are great.
Post: 1031 exchange options
- Rental Property Investor
- West Covina, CA
- Posts 68
- Votes 23
Quote from @Marcus Auerbach:
@Miguel Hernandez it might be too soon for an upgrade. 67K is not enough for 25% down on a decent quad. It may be enough to upgrade to a duplex in a quality area, but that is also tough under the time constraints of a 1031 - Milwaukee is currently the #most competitive market in the US per Redfin Feb 2025 report. Many 1031 exchanges I see will buy a property above fair market value, because that is still better than paying 25% or more in income tax. But that requires a big chunk of cash for the sale, that's why I said it might be too soon.
Hey Marcus,
I do agree it is a bit too soon for a 1031 exchange, but this property I have is not performing as I expected. I am not receiving any cashflow from this property. That is why I want to 1031 into something that has better bones and that will cashflow positively.
I currently don’t invest in Milwaukee, I focus more on cities outside of Milwaukee. I’m not sure if these areas are affected. The 2 markets I am very interested in at Racine and Kenosha. Maybe a 4 unit is out of range for me, but I’m hoping to get a tri plex or at least a duplex that performs better than the property I currently own.
Post: 1031 exchange options
- Rental Property Investor
- West Covina, CA
- Posts 68
- Votes 23
Quote from @Jon Taylor:
I know that market!
Happy to talk about what’s working for us.
DM me if you’d like to chat
Post: 1031 exchange options
- Rental Property Investor
- West Covina, CA
- Posts 68
- Votes 23
Yes, am 1031 exchanging a duplex and I am trying to buy a tri plex or 4 unit.
I would like to get as much cashflow as possible so I’m trying to see how I can best use my money. Do people normally purchase a turn key property when they do a 1031 exchange?
Post: 1031 exchange options
- Rental Property Investor
- West Covina, CA
- Posts 68
- Votes 23
Quote from @Jared Smith:
Can you share some numbers associated with your current property? That would be helpful in being able to provide some advice.
Post: 1031 exchange options
- Rental Property Investor
- West Covina, CA
- Posts 68
- Votes 23
Hello BP members, I have decided to 1031 exchange a rental property of mine. In my current situation I am prioritizing cash flow. Is there any investment strategies or ideas anyone can give me that might help boost my cash flow on this 1031 exchange? Thank you