All Forum Posts by: Rafael Floresta

Hey Michael, I have toyed with the idea of starting a online meetup for the south Jersey area. If you are open to make your meetup also happen online, lets connect and join powers.

Check meetup:

http://www.meetup.com/find/?allMeetups=false&keywo...

If you have a criteria for what you want, I would love to help you find a good deal. 

@Victoria DeCristoforo how committed are you to Mayfair? 

Looking for deals on the MLS is hard. I would start going to meetups and other REIA's groups.

Hey @Jonathan Kim, I am a Real Estate Agent and investor myself. I live in South Jersey buy I invest in Philly/Delco PA. 

Where are you looking to invest? And are you only looking for duplexes?

Nick, I would probably not just get any wholesaler. I am assuming you don't have a lot of experience doing rehabs or evaluating deals, and I apologize if I am wrong. I would focus on finding someone that is doing what you want to do and propose a mentorship rather than go find a wholesaler. 

There are lots of newbie wholesalers now, and the likely hood you are going to waste a ton of time with them is pretty high. 

Find a solid mentor, do a couple deals, narrow your system and then find wholesalers to fill your pipeline. 

Hey Julio, are you still looking? And are you looking for a residential or commercial agent? Also, if residential, is it for your own home or for investment properties?

Section 8: 

Pro: Payment on time / They have to keep up the place to preserve the benefit

Cons: Management of tenants and inspections. Section 8 tenants are sometimes wonderful, and sometimes really complicated hot messes. They might loose the program benefit, and you have to evict them. 

Students: 

Pro: Higher rent than neighborhood average because they want to be closer to campus, and cramp more people in a house. They cant afford or want to buy a house, so no other option than renting.

Cons: If you get the wrong students the will do a lot of damage. 

@Rafael NoratI invest in Delaware County, PA (the name is confusing, it is actually PA, no DE). It is a hike to go to a meetup. 2 hours for me. 

It has been good. But what is good for me, might not be good for you.  I invest in lower end neighborhoods. The average property cost, after repair, 70k. It rents for 1k, tax and insurance for about 300, and mortgage around 300. 

I built in PM costs, but I self manage. I get around 300 cashflow per property, not counting capex in the future.

I usually buy them distressed, and put new roof and WH, most of the time either a kitchen or a bathroom. Every house is a different story. 

The area is getting much better. Especially for buy and hold investors. I recommend. Any idea if the seller is still interested in selling? Why didnt you buy it?