Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Unlock your results with Pro
Upgrade to access this report, plus unlimited others.
10+ investment analysis calculators with shareable reports
$1,000+ in annual savings on landlord software
Unlimited access to the BiggerPockets Forums

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
Personal Finance
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 9 years ago on . Most recent reply

User Stats

17
Posts
1
Votes
Michael Kulusich
  • Investor
  • San Pedro, CA
1
Votes |
17
Posts

How to finance second deal

Michael Kulusich
  • Investor
  • San Pedro, CA
Posted
Hi everyone, I am looking for a Lender in Los Angeles area to discuss options on how to go about financing a second deal. (No deal in works wanted to find out what limits were before started search) Refinery I have been working at for 11 years is being sold and I am unsure whether to cash out my 401k to Finance next deal, before new company takes over. Or just take part of it put to cover 20% down with rehab. Credit score is not greatest but last check it was at 710. Over last year have been really working on paying down debt from divorce. Average about $120,000 a year from job. First deal was a SFH in canyon lake area purchased for $195,000 with FHA loan, does not cash flow. Rent covers a little more than mortgage , taxes and insurance. Could rent for more but use as tax break. If anyone can refer me or have any suggestions would be well appreciated . Thanks Mike Kulusich
  • Michael Kulusich
  • Most Popular Reply

    User Stats

    115
    Posts
    15
    Votes
    Vick Galu
    • Honolulu, HI
    15
    Votes |
    115
    Posts
    Vick Galu
    • Honolulu, HI
    Replied

    @Michael Kulusich hey man I know a guy that does some financing deals. you can pm me and we can talk about it more.

    Loading replies...