All Forum Posts by: Ricardo Hidalgo
Ricardo Hidalgo has started 13 posts and replied 532 times.
Post: Builder in Panama City Beach
- Real Estate Agent
- Posts 552
- Votes 254
Quote from @Matthew Calise:
I’m in need of a builder for a vacant lot a block and a half off Panama City Beach. Anyone know of builders who will buy from wholesaler??
What is the lot? and price?
Post: STR Friendlier Cities?
- Real Estate Agent
- Posts 552
- Votes 254
Quote from @Susie C.:
Currently have some STR but cities have some regulations. Anyone else invest in STRs?
If so, what city are you in and how are the regulations/policies?
Any signs/concerns with policy changes that would limit and/or ban STR?
If you've STR out of state are you self managing or using a service (Vacasa, Evolve, private property manager)? What are the challenges you've face?
Big plus if there’s cities with warmer climate throughout the year as we’d love to have a vacation home we can use ourselves as well.
Destin to Panama City beach hasn't given my any issues. The majority of the owners on the beach use them as second homes or STR. The only way I could see issues is if hoa doesn't allow for it or covenants in a particular neighborhood. Everything so far has been pretty relaxed. But then again, the beach was made for it and how majority of our revenue is made in our area.
Post: Just getting started in real estate investing
- Real Estate Agent
- Posts 552
- Votes 254
Quote from @Matthew Elliott:
Just getting started in real estate investing, looking for assistance. Have capital, need a broker. Am interested in vacation rental properties - not in Ohio, out of state; Florida, North Carolina, etc..
Hi Matthew, I own build and renovate several short term rentals along the cost. Would you like to connect to go over a few options and discuss your target numbers for our market?
Post: What's Your Buy Box in Expensive Markets?
- Real Estate Agent
- Posts 552
- Votes 254
Quote from @Ryan Williams:
Hello Denver! (and similar "expensive" markets) I'm an agent/investor, I run numbers A LOT for myself and clients for 2-4 unit properties in the Denver Metro area and I rarely find anything that breaks even from a cash flow basis. For you investors and agents helping investors who are buying in Denver and similar markets where positive cash flow is hard to find, what are the factors that make a good enough deal for you to go for it? Is it equity plays? break even or negative cash flow that will be better if you refinance at lower rate? 1031's? stashing cash for tax purposes? I'm trying to educate myself and my buyers how people are winning in this current market and would love some insight from others! Thanks in advance!
I am for equity plays or try to build something to increase my cashflow position. I live on 30A which is a huge equity market and typically break even or go negative on cashflow. We typically experience 10-12% appreciation a year with an average price point of 2.5 million!
Post: How would you start investing if you had $150k???
- Real Estate Agent
- Posts 552
- Votes 254
Quote from @V.G Jason:
Quote from @Ricardo Hidalgo:
Quote from @V.G Jason:
Quote from @Ricardo Hidalgo:
Quote from @Jeff Hines:
Hey everyone,
I am a 28 year old who currently lives in NC. I just want to explain my circumstances and see how people with experience and knowledge in real estate would move forward if they were in my shoes. I have $150k in cash that I received from an inheritance and would like to use it to invest in real estate(I already have 6 months of reserves of my own money saved). I also have a credit score of 756.
My overall goal is to buy enough doors to supplement working full time so one day I can focus full-time on becoming an entrepreneur. I know that will take some time but I would like to get started ASAP! I took a few years out of work to take care and spend time with a family member whp passed, so I have only been working for a year now. This has caused me to have trouble with getting approved for loans/mortgages due to my work gap. I have done some research and have found a few ways I could possibly start investing in real estate. If you would take a different route than the ones I’m going to list below please let me know.
- Since I can’t afford to pay cash for a home here in North Carolina, pay cash for a home in places like Detroit, Alabama, or Ohio. I would then renovate, rent, and refinance. Rinse and repeat this process over time.
- Instead of paying cash use that money and spread them over multiple dscr loan so I can own more doors and just collect the cash flow after expenses.
- Wait another year so I can have two years of work history/W-2s. This would increase my chances of being approved for a FHA loan. This would allow me to save money compared to paying cash or the huge Down-payment DSCR loans require.
Are there any other no documentation loans other than DSCR loans that I should look into?
If anyone has any advice or recommendations on how you would get started in real estate if you were in my shoes please let me know any and all suggestions would be greatly appreciated!
Learn to scale that money. Do not get stuck with sub par returns. Learn to outperform the market by looking at property entry values and resale values based on improvement. Im 27 and I turn 100k to 650k in 2 years by doing this.
Did you do it in 2020-2022? If so, that has very little merit. There's miserable fix & flips that came out heavily in the green.
Beginning of 2022 until now and made 6 figure profits this year regardless of market. I would say the portfolio I am guiding and managing with clients is over 20 million with most of the acquisitions made in the last 3-6 months. We have seen a 20-25% return on the money since then.
Sounds about right. If you bot H1 22, it's more luck than skill. Think what you want, see how you fair over 5-10 years.
Lol ok. I've owned 2.8 million in real estate and over 110 million in sales in 5 years. I would say I have the experience, market knowledge and team to do this efficiently. But I appreciate your comment and perhaps you can show me your numbers.
Post: How would you start investing if you had $150k???
- Real Estate Agent
- Posts 552
- Votes 254
Quote from @V.G Jason:
Quote from @Ricardo Hidalgo:
Quote from @Jeff Hines:
Hey everyone,
I am a 28 year old who currently lives in NC. I just want to explain my circumstances and see how people with experience and knowledge in real estate would move forward if they were in my shoes. I have $150k in cash that I received from an inheritance and would like to use it to invest in real estate(I already have 6 months of reserves of my own money saved). I also have a credit score of 756.
My overall goal is to buy enough doors to supplement working full time so one day I can focus full-time on becoming an entrepreneur. I know that will take some time but I would like to get started ASAP! I took a few years out of work to take care and spend time with a family member whp passed, so I have only been working for a year now. This has caused me to have trouble with getting approved for loans/mortgages due to my work gap. I have done some research and have found a few ways I could possibly start investing in real estate. If you would take a different route than the ones I’m going to list below please let me know.
- Since I can’t afford to pay cash for a home here in North Carolina, pay cash for a home in places like Detroit, Alabama, or Ohio. I would then renovate, rent, and refinance. Rinse and repeat this process over time.
- Instead of paying cash use that money and spread them over multiple dscr loan so I can own more doors and just collect the cash flow after expenses.
- Wait another year so I can have two years of work history/W-2s. This would increase my chances of being approved for a FHA loan. This would allow me to save money compared to paying cash or the huge Down-payment DSCR loans require.
Are there any other no documentation loans other than DSCR loans that I should look into?
If anyone has any advice or recommendations on how you would get started in real estate if you were in my shoes please let me know any and all suggestions would be greatly appreciated!
Learn to scale that money. Do not get stuck with sub par returns. Learn to outperform the market by looking at property entry values and resale values based on improvement. Im 27 and I turn 100k to 650k in 2 years by doing this.
Did you do it in 2020-2022? If so, that has very little merit. There's miserable fix & flips that came out heavily in the green.
Beginning of 2022 until now and made 6 figure profits this year regardless of market. I would say the portfolio I am guiding and managing with clients is over 20 million with most of the acquisitions made in the last 3-6 months. We have seen a 20-25% return on the money since then.
Post: Marketing for investor leads
- Real Estate Agent
- Posts 552
- Votes 254
Quote from @Joseph Cascun:
Curious to know what marketing services, tools, platforms, etc investors use for their marketing to attract investor leads, and seamlessly integrate / automate the marketing process. This could be social media posts, blog posts, newsletters, videos/reels, CRM, post schedulers, SEO—anything that has helped . I realize advertising and marketing is prohibited when raising capital under some securities regulations.
For context, I’m looking to produce more content to help consistently educate potential investors that are both active and passive, and also tell my story, and investment projects I’m currently involved in to expand my network as I continue my investing journey.
Would appreciate hearing what has and hasn’t worked for you or your teams
Buy yourself and show them your profits or cashflow positions. It tripled my business by offering transparency and following my own advice.
Post: Closing costs insane...is it real estate a good investment?
- Real Estate Agent
- Posts 552
- Votes 254
Quote from @Tyler Kellogg:
Just spoke with a loan officer in the Florida panhandle. She explained there would be around $18,000 total in closing costs to purchase a 250k-300k home...approx $11,000 standard closing costs plus $7,900 in "discount points" (I don't know how discount points get added to an amount instead of subtracted...so if someone can explain that, I'd appreciate it)
My general question is; for a rental investment property (ready to rent, not a flip), is now a decent time to buy? I'm fairly ignorant on home buying (only bought 2 houses in my life) but putting down $18,000 for closing costs seems ridiculous to me. I'd rather put my money into a CD for growth then reattack the rental property in a year or two. Whats the opinion on that from those smarter than I?
Thanks for the feedback!
I live and own on the panhandle currently buying in the current market. I would ask the seller to pay for your title, closing cost, escrows and prorations up to $11,000. (yes I've done this with buyers recently). Then try to get all repairs done to limit maintenance cost. Instead of going for discount points which will bring down your monthly payment for 50-90 dollars depending on rate, try to get a better entry price when you buy, improve it and refi when rates go down. That way you just improved a property and had all or majority of upfront cost paid by seller. Most of my Va buyers have been getting over 90% of their closing cost covered.
Post: I have recently come into some capital...
- Real Estate Agent
- Posts 552
- Votes 254
Quote from @Max Gabriel:
Hi All --
I have recently came into a decent amount of capital, approximately ~$5M, free and clear, and I have begun reading Brandon's book on rental property investing. I am only 25, and I despise the day-to-day mundanity of the corporate world. I am 25 years old and believe I can turn this $5M into a generational empire if I approach this correctly.
I live in NYC, so I can't see myself house hacking, I don't think my significant other would be on board with it either.
What do you recommend as some ways to get started?
How do you identify areas of significant interest to you?
How important is it for your first property to be within range of your current home?
Any advice would be helpful.
I would love to connect with real estate professionals, investors, etc. and begin building my network!
Cheers!
I would look to diversify that portfolio and start becoming an expert in a particular field of finance or assets. I think you should learn how to manage that money slowly and diversify into blue chips assets.
Post: Best places to invest that are landlord friendly
- Real Estate Agent
- Posts 552
- Votes 254
Quote from @Thomas Jameson:
Hello, wondering what places you would recommend investing that are landlord friendly, a mix of appreciation and cash flow,. Also taking in consideration insurance, taxes, cost of repairs.
Hi Thomas, how much are you looking to invest? are you wanting long term or short term rentals? What is your expected return for cashflow or appreciation?