All Forum Posts by: Randy Gutierrez

Congratulations on the purchase! I find 95k per unit to be a bit steep though. What are you cash flowing per unit?

Anything over 10k gets reported, bank will ask for ID and SSN and possibly paperwork to file. You are better off depositing this amount over an extended period of time like 3k every month for 10 months etc.

Purchasing more properties without having the previous units/properties stabilized (market/"fair" rents) will have a compounding increase on your overall risk within your portfolio. In essence you are buying 4 more water heaters that can potentially fail, 4 more toilets that can potentially leak, 4 more roofs that may need repairing, 4 more properties with potentially below market rents etc. If you are not increasing your cashflow to compensate for all of this then you are stretching yourself too thin. So to answer your question, it is bad practice. 

The amount of landlords are increasing but so is the amount of renters. Opportunities are still out there! https://www.rentalprotectionag...

Best time to buy was yesterday!

It is not uncommon to purchase a property with inherited tenants with below market rents that is netting you very little cashflow. Any investor acquiring inherited tenants will almost always encounter this issue, so I would not sell yourself short yet. You need to look at the future potential and stabilize the property which requires raising the rent to market value and possibly getting new tenants. I'm sure you realized by now that $100 a door is not enough. I personally aim for $300+ per door. Also you should always have reserves when your property is not stabilized as the current cashflow will likely not cover it. Every investor and situation is unique, but raising rents in the beginning can sometimes be better as you have yet to develop a relationship with the inherited tenants.

I use GoDaddy Smartline. It is not free like google voice but it has features that google doesn't have like setting up Business Hours and provides billing so that you can expense.

A duplex in Easton for less than 100k?! Not happening unfortunately. Perhaps if it was the year 2016 ha. I got one for 120k beginning of last year and I thought that was a steal at the time. Today it is worth about 160k and only 8k of work has been thrown at it. Market is crazy competitive in Easton these days. We are looking to convert the third floor to an additional unit, who knows what a triplex would fetch for. 

136k for a duplex in Allentown is a good deal! Congratulations and keep up the good work. David is great by the way

I've noticed a few comments regarding social media. What has worked me is to follow other investors and accounts related to any component of real estate investing, which for me range anywhere from following CPA's to learning how to cut trim. I would say around half of my IG feed consists of RE.