All Forum Posts by: Robert Herrera

@Michael Wentzel I actually do A LOOONG term lease option. 35 years. If they can't get financing, and rent to own for that long, I'll sign the title over. Non Refundable Option Fee. No one has ever completed one, but I have had some long term tenants for years, and only about a handful of evictions over all the properties. Statistically somewhere along the lines of 90% won't complete it. That's ok with me. If they leave, i put a couple grand back into making the home BETTER than it was before. Do another lease option for higher rent as they keep going up and it's upgraded.

Brian Adams that’s great to hear about your success! I’m currently holding 21 properties. All in-State Southern Colorado. I live in Denver and own an oil business out here. I am very interested in getting into large apartment buildings. I would like to learn from you, if you have some direction I could follow. Maybe a course I could take or seminar/education recommendation. I am not an accredited investor yet, as I’m just getting into the low $100k/year. Thanks for any help you can give. Happy Investing Everyone!

Tim Kaminski actually, I do lease options. So they gave me $5,000 down to move in. Also tenants were responsible for all utilities, repairs and maintenance. I sold that property already though.

@Mike Dymski How are Most Commercial Apartment Loans Structured? I am going to be looking for an Apartment building Next to add to my portfolio.

@Ricardo R. I would like to know what the numbers are on the Rent side. How much is it making monthly? How much is your payment going to be PITI? What about your other expenses? I'm trying to gage how profitable this deal actually is.

Ned Jackson I was able to scale quickly because I use long term LEASE OPTIONS. I receive between $5,000-$9,000 down on average, as a non-refundable option fee. I then use that option fee towards the next house. Rinse and repeat. Read The Straight Path To Real Estate by Kris Krohn to better see the methods and strategies I use Personally.

Ian Walsh I would guess around 90% or more on average. I put down as little as possible. I don’t mind giving up some % points if I can acquire for cheap down payments.

Ned Jackson Tim Kaminski I purchased my first property in Commerce city. We bought with an FHA loan. We lived there for a year per owner occupied requirements of FHA. Purchase price was $120k. Mortgage was aprx $900/month PITI. I rented it for about a year and a half for $1,900/month. Cashflow of $1,000. During that time, I purchased a few homes owner carry with my auctions guy on Pueblo. Mostly $5,000 down- $9,000 down. I sold my commerce city home beginning of 2017. Market was crazy, and It sold for $215k. We gained $75k after closing and realtors. Took that money and started buying more from my auctions guy. Kind of steam rolled with that cash infusion and the Cashflow together and purchased everything I could get my hands on. I did 1 deal with a friend of mine. His house was in foreclosure. We partnered together on an LLC. We put the property title in the LLC. I paid the loan the current around $6K. I repaired the place for around $9K. Rented it out. I get my money back first, then we split the Cashflow going forward, as well as equity. We are 50/50 Partners. Currently working with a bank to refinance this property into the LLC. We have a lot of equity so it looks like a cash out Refinance will be happening with this one. Haven’t used a bank 1 time this whole experience, except for our FHA home and this current refinance. I will be going forward though, as I have been building my credit since my Cashflow covers my bills.

Philippe Busque it is not an “oil plant.” I own a Motor Oil Recycling business. I have a few storage tanks and some shipping containers to store equipment. We collect the oil from lube shops, auto repair shops, etc. we bring it back and store it in our tanks. It’s then shipped in bulk to a Rerefinery that makes it into brand new motor oil. The other 3/4 of the lot is rented as yard space for businesses. 1 business is a main line plumbing excavation company. They take up 1/2 acre. The other is a tow guy, and takes up 1/4 acre. There is a power pole in the lot with an electric box and about 5 outlets.

Rigo V. It was definitely a great buy. I use a quarter acre for my Oil Business, so I get a free space. It’s zoned Industrial-2 in Arvada. Hard to find this land this close to Denver. We used to rent it, but the lady who owned it passed away. Her sons get it and wanted to sell. The manager of the property talked them into an owner carry. To make it more enticing, I’m sure we paid over market. Having to only pay $25k down made the deal worth it all. If I was renting out the other quarter acre I’m using, I’d have over a 100% return in the first year. Kinda forced into this niche because of my business. Seems very lucrative and I would like to repeat this. Currently looking at 10 acres in Pueblo zoned industrial to get some major returns on it. It’s already fenced. I’m estimating $1,000+ per acre. So hopefully $10,000+ per month gross. No toilets or carpets. No paint, or any real major maintenance. Need power but just needs to be connected to the lot. I’ll probably have to team up with some investors.