All Forum Posts by: Ralph Justiz
Ralph Justiz has started 2 posts and replied 122 times.
Post: What do you guys think?
- Realtor
- Edmond, OK
- Posts 123
- Votes 79
Luke,
It's been awhile since you posted this but If the numbers work for your goals then the deal is good!
Somethings you might want to research more closely are your projected rent numbers on both properties and whether or not you truly need a property manager for your other house. I always make sure when I'm estimating rents I use the most conservative numbers. Some great resources to find competitive rental comps are Zillow, rentometer, Facebook, and even a property manager.
If you are planning to manage the three tenants in your 4plex why not manage another property as well?
As far as reserves go 50K is a great place to be for that many doors but you should still set aside some of your rental income because eventually you will have to do major repairs and you will have vacancy. I hope this helps!
Post: Long Time lurker, first time poster!
- Realtor
- Edmond, OK
- Posts 123
- Votes 79
Hello everyone! As the title states I have been lurking on the Biggerpockets website for a bit and finally decided to introduce myself today! My name is Ralph Justiz and my wife and I started intentionally investing in real estate in OKC metro at the end of 2017 after taking on Brandon Turner's 90 day challenge. After 90 days we ended up with 2 single family homes (1 over our goal!). After being slightly overwhelmed with the sheer amount of work required to get our properties up and running we sought out help from local mentors. It was the best decision we ever made. After several lessons from the school of hard knocks and guidance from our mentors we were able to rent out both properties, get married, and start a new career all in the same month! Fast forward to today, my wife and I have both transitioned from our full time medical management jobs to become full time real estate investors and real estate agents. To say the real estate changed our lives in an understatement! We currently own and operate 5 doors and help like minded investors find deals in the Oklahoma City metro. I also am involved with an apartment syndication group where I raise private capital for large multifamily deals. I look forward to getting to know and helping other investors meet their goals!