All Forum Posts by: Alex Corral

Do you go with a 30 year mortgage or 15 year? I just closed on my first REI and took the 15 year. It was $146 more per month on a $60k loan. Seemed like a no brainer with the interest savings. It's not cash flowing much at all though. Maybe $40 a month. I've read to finance as long as possible for the most cash flow, but the extra $100 just doesn't make sense to pay all that extra interest, right?

Hey Guys, in my continuous research I've seen some companies are cash only & some offer financing. 

Should there be a difference in sales price between the two?

Should you be able to negotiate the asking price on either? And more specifically, the cash sales? 

I know you can later delay-finance a cash property, but it ties your cash for some time, where I feel you could lose out on a potential good deal(s). The other thing is the uncertainty of under-appraising. What if a month later, you find out you over-paid on that property? In that aspect, I feel the companies who offer financing would be more honest about their propertie's values with contingencies to protect the investor, correct? 

I assume it's cheaper overall to buy with finance vs delay-finance later? 

Sorry for all these questions on 1 post, didn't want to start multiple.

What rates are you guys seeing on helocs? And by delayed financing, do you mean cash out refinance the property paid for in cash after so many months?

Mike D'Arrigo Thanks so much for your time on the phone yesterday. Nearly an hour. You shared some truly great advice that has changed my plan.

@Eunice L. Thanks for the feedback. I am looking to talk to Memphis Invest as well.

@Chris Clothier I'm in customer service as well, and I know things can get busy, but it's nice to see activity from a owner/partner with their clients. Says a lot IMO.

Originally posted by @Jeff Schechter:

Full disclosure:  I'm a partner in a very solid TK company here in Indy.  We're very familiar with the suppliers and tactics of all the TK's in Indy.  And yes, Memphis Invest is a good one, if you want to be in their markets.  PM me if you want more info about the Indy market.

Hi Jeff, I actually had you written down about talking to you as well. I will send you a PM.

Thanks for the links @Tom Ott.

Talked to Morris Invest today. Said their deals go in 3-6 hours. Supposed to send me some properties, but not interested in pressure sales. Btw, Jay Hinrichs I listened to your podcast with BP. Great info! Very interesting stories as well. Especially the timber trade. I'm lucky to have you advising on my thread. Thanks.

Jay Hinrichs I had read about the calls being so far out. I was shocked to see plenty of times available the next day. I'm in no "rush", but am ready to do something now. In the meantime, I'm trying to learn as much as I can as fast as I can.

Wanted to add, it seems Memphis prefers to sell in more C/B areas (70k+) and has a great PM team?