All Forum Posts by: Ricardo S.
Ricardo S. has started 16 posts and replied 157 times.
Post: Rentometer - what does "60% between: $1000– $1600" mean?
- Flipper/Rehabber
- Atlanta, GA
- Posts 165
- Votes 88
The important thing is the average rent for the area. Which is also shown on the site.
All that means is that 60% of rents for that area fall between that price range.
It increased to 80% because the price range increased.
Post: Zillow or Trulia? Which do you prefer?
- Flipper/Rehabber
- Atlanta, GA
- Posts 165
- Votes 88
Redfin is the best site. Although it doesnt show properties for some areas.
Post: New Member from Jersey City, New Jersey
- Flipper/Rehabber
- Atlanta, GA
- Posts 165
- Votes 88
Welcome!
Post: Do You Know What A Property Management Company Does?
- Flipper/Rehabber
- Atlanta, GA
- Posts 165
- Votes 88
Umm... They manage your property?
Post: Curious how NYers get started..feeling discouraged
- Flipper/Rehabber
- Atlanta, GA
- Posts 165
- Votes 88
The best thing to do is purchase properties out of state. particularly southern states.
Its really not that hard and properties are dirt cheap. Finding financing is easy as well.
Don't be scared. But if you want to compete in NYC you will need to have a lot of cash on hand. Atleast 100k.
Your first step should be to optimize your budget and spending. This is important because it will allow you to save for your first property.
correct!
Post: First multifamily investment. Existing multifamily or a large single family home that can be modified
- Flipper/Rehabber
- Atlanta, GA
- Posts 165
- Votes 88
Search the MLS. Personally I like redfin. But Trulia is good too.
A property that is already a multifamily would be best. Most have separate utilities and it would be overall cheaper.
The only way I would buy a SFR that can be converted to a multi family is if the price is a steal!. Renovation costs can get quite expensive.
Post: Goals for 2015
- Flipper/Rehabber
- Atlanta, GA
- Posts 165
- Votes 88
Damn everyones buying properties! Where do you get the money?? sheesh lol
My goal is to pay off my credit cards so I can rebuild my credit to then purchase my first buy and hold.
Post: My financial situation
- Flipper/Rehabber
- Atlanta, GA
- Posts 165
- Votes 88
Originally posted by @Jesse T.:
Part of the reason your credit score isn't great is that 2 of your credit cards are nearly maxed out. If you really do have about 1K/month, I would put it toward the Saphire card until that was wiped out. Then I would work on the other credit card with a balance.
The sapphire card has the chase blueprint feature. So it let's me set up a planned amount so I know how long it takes to payoff my card at a specific monthly amount. It's going to take about 7 months or so. The Citi card is roughly about the same.
Thanks guys for the help!