All Forum Posts by: Roberto Aguilar-Cancino

Hi Yaniel, in my experience there isn’t a big difference between SFH and duplex. It really depends on the property. Some SFH will cash flow more than a duplex but they’re riskier since it’s just one tenant. On the other side, duplex provide 2 cash flows but you have to manage 2 contracts. The key is to find a solid tenant to avoid issues down the road. In your situation you definitely need a PM. 
I buy, rehab, rent and manage (then refi) my own properties. Shoot me a message if I can be of help. I’m based in West Palm.
Good luck.  

Hi Jephney,

I was able to negotiate the lien amount with a special magistrate and paid 1% of what was owed (lien was for a most $400k). This was en West Palm Beach. It does take time to get to the right person and then write letters, show evidence of the remediation and finally present your case. It’s totally doable. If you’re getting a good price de the property and have enough funds to afford repairs and carry, go for it. Good luck. 

Hi Jon, I’m an investor in South Palm Beach County area. I would like to attend the next meeting. If you can add me to your distribution list it’d be great. [email protected]

Thank you

Sure, I do rehabs and investment properties in Palm Beach County. Let's connect.

Fortunately my 2 duplex paid as expected. However, 2 tenants mentioned that next month wasn’t looking good. I can afford 1 no payment but 2 would be trouble.

Let’s see what happens.

Good luck everyone.

Good Question

I have a degree in Finance. This helped me with the numbers and economics logic. More importantly, my career gave me the opportunity to interact with so many diverse backgrounds which really enriched me and are helping in my business now.

If I haven't had a degree I would probably still have the hunger and the fun even if I'd made more mistakes.

@Robert Darling! while I wasn’t 100% sure, I knew there was a very high probability of reducing it to at least 5-10%. Worst case scenario, I would had hold for sure. Having prepared a speech with statistics and speaking honestly went a long way with the special magistrate in this case. I believe city officials appreciate when investors don’t try to bs them. 

Investment Info:

Single-family residence fix & flip investment in West Palm Beach.

Purchase price: $79,000
Cash invested: $42,000
Sale price: $209,900

SFH with a lien that was 3x the sale price of the property. After fixing code violation I negotiated lien reduction with the city to just 2% of the lien fine. This boosted my profit automatically.

What made you interested in investing in this type of deal?

The potential profit with a lien reduction

How did you find this deal and how did you negotiate it?

Wholeseller, negotiated a few bucks down

How did you finance this deal?

Cash

How did you add value to the deal?

Fixed the property, added color, improved landscaping, new roof.

Lessons learned? Challenges?

Taking action and calculated risks is the key to success