All Forum Posts by: Robert Herrera

Jameel Tillman I always put my property in separate LLC's. She's lucky she never got sued, because if everything is in her name, they can go after everything she's got. If they are in separate LLC's, they can only get at what the LLC owned which would be 1 house, instead of 10.

Catherine Peters I think the phone has something to do with it, it's not allowing me to either. I will partner up with anyone looking in this market. Always looking for more deals to do.

Catherine Peters I do not use a management company. All of my properties are lease options to my tenants. They pay about $7k to move in, pay all repairs and Maintenance as well as all utilities. Long term Tenants. If they move out, I make more money because I lease option to the next buyer for $7,000 down as well. Option fee is non-refundable. This type of investing takes a little more to understand, but the benefits are huge.

Bryan Wilson I invest all over Pueblo. South Side, east side, west side. Doesn't matter. Well it kinda matters. Under 4th st on the east side is a little more crime and trash area. Above that is just fine. This isn't the Pueblo from years past. With the marijuana here, most of my renters are from out of state, and the dynamic has changed for the better. 10,000 people a month moving to Colorado. Most can't afford Denver prices. Default to southern Colorado. No rentals. I'm charging $950/month on and east side 3br house. Message me for more information. Also go to PuebloRiverWalk .com. Don't go to the .org as it is not a good site. Watch the videos there to get some insight into Pueblo.

@Denny Moody I also Invest in PUEBLO, CO. It is perfect! I buy houses for around $50K. That's $15,000 down with closing costs. Mortgage is around $350/month PITI. Rent around $850-$950 no problem. There are not enough rentals in pueblo. There are not enough rental in Colorado as it is. This is the cheapest area in Colorado to Invest and be in a Main City. I love the cashflow. Here is a little Pueblo Secret... most people make close to Minimum wage, at around 8-9hr. Since the law is changing, all these people will be making $15/hr by 2020. That's only 3 years away. This will drive rents WAY Higher, and i expect Pueblo to fall in line with property values in Colorado Springs. This will make them worth about Double!... Just my Opinion on it. I own property in Denver that i'm selling to Invest more in This market. i own 11 properties, with 8 of them being in Pueblo, CO.

@@Marshall Zakarian This depends on what you need for cashflow compared to what you have to put down. You are putting down $100K+ and receiving around $1,640/month. You could do the same thing with single family homes in the area I invest for cheaper. I buy SFH for around 50K. that's about $15,000 down with closing costs. Mortgage is about $350/month PITI. Rent for around $950/month. That's $600/month cash flow, Sometimes $500/month depending on the house, etc. As you can see, you would only need 3 of these houses to make the same cashflow. That's about $45K out of pocket.

Not only that, but i use lease Options and the tenants give me about $7,500 to move in. There by giving me back half of my cash Immediately. After buying 3 houses, you will have $22,500. That's enough for 1 house at $15,000 and remander of $7,500. Get the option payment from that new house, and you will have $15,000 on hand. Buy another house. Get that option payment. Now you will have $7,500 on hand for backup money. You will also have 5 houses that make about $2,500/month-$3,000/month, all starting with $45K. Oh yeah, you also have about $100k left over from not doing the other deal...

@Marques Johnson all turn key is, is they have a tenant in there. Nothing else. What happens when that tenant leaves, and now you can't find anyone to rent for the price they were renting at. This is how they inflate the price. The seller sells you the house, and says, now you deal with it. Tenants are only good for 6months-year. Maybe longer if they signed a longer lease. I think you are better off buying a better deal on a house, and getting your own renters in there. In My Opinion.

@Francis A.  I use erentpayment  .com. They report for your tenant, and you tenant does all the setup of this once you have your Management account setup. It's easy to use, and they charge a flat $3 per transaction they do. You can pass this on to the Renter if you wish. You can also opt to take credit/debit cards, but you will be paying more to do so. 

@Felix Portman Go to a Mortgage Broker. Not a Banker. There is a HUGE Difference. I'n not sure of any in your area, as i am out of state, but a quick google search should get you what you are looking for. Tell them what you are trying to do over the phone and see if they work with those type of properties. Shouldn't be too hard if you cash flowing from your rentals.

@Drew Moyer Welcome to BP. What books have you read? You don't need money, to make money, but it helps. This type of Investing (real estate investing) is really about your style of investing. Read the books, listen to seminars, audio books, etc, and prepare for the Opportunity when it comes. That's 80% of real estate investing. That's how I see it anyways.

Start you off and read these books. You can even find them for free and also on YOUTUBE sometimes. 

Rich Dad, Poor Dad by Robert Kiyosaki  (This will change your mind set, and put you on the Proper Path)

Richest Man in Babylon:  by George Samuel Clason (This Will Teach you How to Handle your Money, and how to Get the Money you Need to Invest)

Straight Path to Real Estate: by Kris Krohn. (This will answer your Question about Rentals, Flips, Etc) Is the best choice for me, and i follow his teachings.