All Forum Posts by: Omar Ruiz

broker connections

plumbing is probably the major issue on older buildings. 

your plan should include what the current operations are and a proforma of what it will be in the future and how the investor will benefit. 

I agree with other comments; if you're in middle of duediligence period, now would be the time to have an attorney review the contract. Once the duediligence period ends your earnest money goes hard. If you decide to back out or find something to renegotiate on, your earnest money will not get refunded after this period ends. 

I've closed deals without an broker, but since your starting it acceptable and probable recommended that you have a RE attorney review the contract. The same attorney can guide you on the process to close as it will be specific to what you contractually signed. 

Best of Luck!

If you don't have the cash, find a partner.

I know an investor with years of experience in multifamily and apartments either in the area or close by, that may be open to partnering with you. Let me know if that's something your interested and I can forward him your contact info.

There is no "good path", just depends on your mindset and comfort level. I started with small units and was able to double the amount of units on the subsequent purchase. My local market was in the buyers phase of the market cycle, so I was able to cashflow very well and managed myself and sold them when it got to a sellers phase of the market. I now look for bigger complexes out of state in markets that are in the buyers phase and contract with CPMs. 

I hope thats helpful

Don't get into analysis paralysis, especially on fictional numbers. 6% interest is pretty high rate. Analyze real scenarios and talk to your mortgage broker about reasonable loan terms. 

To Your Success.

What the Crisis in Venezuela Teaches us about U.S. Real Estate Markets

A recent USA Today article dated May 26, 2016 reports on the difficult situation in the country of Venezuela. While reading this article it made me think about some of the cities in the USA. I started thinking about the similarities in the way U.S. Real Estate Markets evolve and transition within each individual cities real estate cycle and what causes markets to transition from one cycle to the next.

The article focuses on the problems companies are having in Venezuela due to the “out-of-control inflation”. The main issue in the country of Venezuela is that it’s dependent on one natural resource industry and the collapse in the pricing of that natural resource is creating a paralyzing situation, causing strife in the population and political upheaval.

See the video below:

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CHECK OUT MY UPCOMING MARKET CYCLES PRESENTATION ON JUNE 18TH IN

Do you wish you bought real estate in California when it could cashflow, between 2009-2013?

Do you know why real estate values in California spiked soon afterwards?

ITS THE MARKET CYCLES

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