FourPlex Guy Carlos Gonzalez

New construction duplex update: I signed a DSCR loan and these were the terms: 30 year fixed 75% LTV cash out refinance First of all I asked 7 different DSCR lenders and the terms ranged from 7.25% 3 points 5 year PPP 1% fee 7.125% 2 point 5 year PPP 1% fee 6.875% credit of $1K 3 year PPP 1% fee 6.75% zero points 5 year PPP 1% fee 6.50% zero points 5 year PPP .5% fee Plus $1500+ underwriting fees that every lender charges I’m sure you can tell which one I decided to go with The brand new duplex is rented for $2000 each side and all utilities are separate paid by the renters 3 bedrooms and 2 bathroom 1064 sq ft each unit Private patio Long driveways Washer and dryer included I was able to extract $XX,XXX from the cash out refinance I went from 18% hard money to 12% hard money to 6.50% DSCR loan 30 year Now I can breath lol My initial monthly payment will be September 1st $2,860 and that includes taxes and insurance Insurance is $70 Taxes are $42 Now that I have signed into a much lower rate I can focus on the next move Buy another infill lot to build the next duplex

Makes zero sense Sometimes renovations is a waste of money that’s why a lot of investors buy a property and hold it for a long time and sell it with no updates whatsoever and they get paid. Now if Zillow adds a comment section the buyer will see a lot of secrets there. Top comment in one property might read “I live down the street and the owner hired a roofer contractor with no license so be careful what you buy” It’ll be interesting nevertheless

I just spoke to the Fed guy and him and I agree that we need another rate hike in December. Kevin told me jokingly it looks like Christmas is coming early, I told him not to joke around this topic because it’s a serious topic. It is needed nevertheless We need another rate hike in December. Today bond yields are back to pricing another rate hike and the stock market reacted accordingly. We need to lower the inflation

The moment you collect your first rental income from your first tenant your mind shifts to another state of mind, sort of like it evolves. The faster you do this the faster you realize something a lot of people will never realize in their lifetime. Not even sex gives you that shift. Sex is primal Receiving rental income will set you up for a mental transformation you never thought existed until you go through it. Once you receive that mental transformation be careful, it’ll change you beyond your wildest dreams.

Today I’ve met a builder who has been building properties for around 15 years. He has 8 houses paid for that he rents for about $1800 per month each No loans on the properties. $1800*8=$14,400.00 Minus any repairs and expenses. That’s his retirement he says. He also builds to sell properties and he’s become so good and efficient that he’s price per sq ft is $100 So if he builds a 3 bedroom 2 bath house 1500 sq ft with a two car garage and a block wall patio say Then this total build cost is $100*1500=$150,000.00 Plus land say about $50,000 Total build cost is $200,000 He then sells it for $300,000 Pure profit for him $100,000 Not bad at all That’s the best price per sq for I’ve seen so far.

If you aren’t part of a group that helps you get better then what are you doing.

I’m not surprised that no more Hispanics voted for democrats but just enough for the democrats to get majority of the votes. The black vote however was an absolute yes to the democrats and a big F to the R This holds true what I said about we Hispanics voting to what we believe is a better candidate instead of the party.

Decided to invest some cash I had in Space X during the sell off Already up 6.32% I love SpaceX Their clients are multibillion dollar companies and even countries as clients I’m going to leave it there like I have left Apple alone for years and Apple has treated me very nicely. They continue to innovate and invest in R&D SpaceX and Apple are my holdings for now. The future looks bright for both of them

I just rented my 3/2.5 rental One month rent free Signed a 2-13 month lease Excellent quality renter Just paid the security deposit. Let’s see how it plays out.

Just spoke to a property manager from CA and is expanding to AZ to get more rentals. I asked him what are the biggest advantages of using his services versus other other PMs from AZ He says that in his contracts he outlines that the renters pay for all appliances repairs including ACs All his renters in CA pay for all sort of repairs including ACs, none of those expenses the owner pays. He’s starting to gain some traction in AZ he says.

Now that most democrats won the major races in AZ (governor + both legislatures chambers) they can pass changes to help tenants. Here it’s how: Rent caps and rent control Pass a bill repealing or amending § 33-1329 so cities can enact local rent control, or impose a statewide limit (e.g., CPI + a percentage, with a hard cap). Lower security deposits Amend § 33-1321 to reduce the 1.5-month aggregate cap (for example, to 1 month or less). This is a straightforward statutory change that does not require a supermajority. Landlords to pay for relocation: Add new sections to the Arizona Residential Landlord and Tenant Act requiring just-cause for non-renewal and/or mandating landlord-paid relocation payments (e.g., one or more months’ rent) for no-fault terminations Get ready landlords because change is coming near you.