All Forum Posts by: Polo Vazquez

@Brent Christensen I couldn't have said it better! Yes, it's more "risk" because you owe more money now, but its very limited risk if you invest the proceed corretly.

There is also the chance that your next deal will be better and will give you a better return! I would do it.... just don't refinance ALL the time because you lose money on closing costs everytime.

In my opinion, if you are renting your property as an Airbnb then the Hot Tub is great, but if you are doing a lease then it's a waste of money. If you get lucky the first tenants you get will take care of it, but eventually you are likely to get a tenant that won't care for it and is going to let it decay untill it becomes almost worthless :S

Sell it, it's not worth the hassle.

I hear the best horse ranches are in East Texas by around Tyler TX. Land is also waaaayyy cheaper over there than San Antonio/Austin.

Lots of oil in Texas too. Unfortunately you probably won't be buying mineral rights.

Continuing on what Rick said,

Yes it is possible to do this without spending a lot of time, but it's going to cost your more money. For example, you can pay people to drive for dollars for you, you can pay for services that send post cards to special lists, or you can set up a website where you can get leads and spend money on advertising your website.

You are very correct on that competition is fierce right now! You have to move fast if you want to buy, you are competing against a lot of first time buyers that are trying to take advantage of the low rates.

The lady that runs the property management from our brokerage has been doing it for 15 years and based on the things I have talked with her she I can tell she knows what she is doing. PM me and I will gladly pass you her info!

Class C is the bread and butter of real estate! Best COC return while still not being so shary that you will get bad tenants all the time. Put down the numbers so we can help you more!

I agree with suzanne on her open shelving opinion. If the rental was for an AIR BNB then it would work, but if it's a normal rental im sure your tenants prefer regular cabinets.

Nothing wrong with online signing. It is a legal way to sign and it's supposed to hold up in court just as good. I'm not a lawyer but I remember reading about it in my real estate courses.

I like @John Barr's idea of how to start inveting. Yes it won't be a 20%+ CoC deal but you will now be in the game, learning and understanding and actually taking action! As long as you keep buying, some of those will turn out to be insane deals and others just decent investments.

As far as the right time to invest... it was yesterday. Don't worry about buying on top of the market. If you keep on constantly buying then when prices are cheap you will be able to buy A LOT  and when prices are high you will only be able to buy a little. The truck is to always keep buying.

Cheers! You can now call yourself a Real Estate Investor!!