All Forum Posts by: Nicolas Londono

I would trust Ace Properties and Elliot.... haven't try them yet though

I'm about 130% into real estate... that means I only own 1 property and owe money, so I have more than I own in real estate...

The way I see it... real estate is how I make my money and I still don't have enough to worry about diversification... later in life I'll go from wealth creation to wealth preservation when diversification becomes critical. if you have one egg you can only use one basket.

That being said, play safe... every property you own is like one of those flags in super Mario, if you die, you will re spawn on one of those... don't risk your flags, only your current project

Both toilets are independent until the pipes meet, the damage can be only on one of them. Can you check if you have cast iron pipes? if so, yes, change them. If they are PVC/ABS look for the clean outs -threaded lids that can be removed- and basically pressure wash the inside of the pipes on all runs.

If you are handy, remove the toilette and use high pressure water to clean the pipes, you"ll be surprised with what you can accomplish with a garden hose with a pvc end cap and a couple of drilled holes on it. The snake breaks things, but not always push them out.

Without knowing anything... I would start by saying make it desirable... Is it about the neighborhood? general location? or is it fixable (rehab)?

No matter what you have, somebody needs it. Given what you have, who can get value out of it? find the best use for your property... section 8? STR, MTR? rent by the room? Explore the options you identify, decide on one, look at comps, like real objective comps and price it accordingly. Also make it look accordingly and match or exceed amenities.

Don't fully rely on property managers, if your property is the ugly child, the only one that loves it is you

If you share details maybe we can brainstorm solutions. let me know

Hey Welcome!

I would try the Sub to... there are ways in which you can get the mortgage out of the debt to income of your friend, I think is by getting the loan serviced by a servicing company... Look for the BP podcast episodes with Pace Morby

think of it as you buying her mortgage position.... I wish i could get a 3.5% mortgage... since I can't I have to buy it... you can also give her either cash on closing or a monthly payment during x time.

Never trust the owner's appreciation of the physical state of a property, it always be "flawless" walk the property and get an inspection.

If the house is already listed and the Broker/Agent wont do the transaction, and since you know her personally and not from this transaction, you can always wait until the listing expires, if she has 30k equity on the house, most of it would be spent on commissions and closing costs.

we are working with Chase... all good as of now... just schedule several appointments on several branches... some may deny your bank account don't get discouraged.... I'm a non resident... not sure if it would be as hard

I'am looking to do some sub to for my next deal, would love to hear from your experience

Hey Cena, am in SW Atlanta and Marietta reach out with any queastion

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $80,000
Cash invested: $200,000

PHD in rehab and MTR Experience

What made you interested in investing in this type of deal?

Learning about the business..... getting my feet wet (soaked)

How did you find this deal and how did you negotiate it?

Networking in the local REIA... Wholeseller

How did you finance this deal?

Cash out of no idea where

How did you add value to the deal?

Full rebuild done by my self... huge learning opportunity

What was the outcome?

A beautiful property being furnished to rent as an MTR

Lessons learned? Challenges?

a house is waaaaaay more complex as it seems, but you can do it

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

not yet! soon...

Hi I'm Nick... just finished my first rehab here and turning it into an MTR hit me up if you want to chck the house and talk Real Estate