All Forum Posts by: Raul J. Bello

@Roberto Torres I can come up with the cash by selling a current property my parents currently own, which is currently cash flow negative, which actually sucks, but they only have like 5 years left on their mortgage. But if the numbers make sense, they’ll go at it and im just the mind of the operation. I was also thinking of trying to come across some private money (family or private lender) since this properties I spoke of really got some potential for lowballing. 
If I went to a bank, it’ll have to be through my parents cause of age restrictions in PR (not 21), but I think they can get some approved

But no, I do not have something concrete yet, just panning everything out first.

Im living in Puerto Rico, where market is real different from the rest of the U.S. . Construction is totally different, most houses are made of concrete, meaning repair costs and expectations for a property are also different (cheaper or expensive'r) 

So cutting to the chase, if literally have got 2 single family houses that I see as potential deals, one literally the house the next door, and the other one literally across the street. I live in a B neighborhood and most houses are ranging from C to B, but these two are looking C minus or even D. No one has been living on them for at least 3 years minimum each. They do have owners, but they don't live on them, nor look interested in investing on them. Houses in my neighborhood go around for 100k in normal condition, meaning no major repairs nor nothing to exotic or special. I think the owners would be highly motivated to take real lowball offers, since they aren't making any use on these. Rents range from 500-800 depending on the house condition. 

I aint got money for this obviously, so I'd have to come across with some private money, which I don't think it would be so much of a problem since my parents fully support my decisions.

Should I go for it, and what tips and recommendations can I get. I know I can come up with a solid plan, but I'd like insight and opinions.