All Forum Posts by: Andrew Garcia

 @Erik Browning thank you!

Hi @Brandon Drzewicki, as the others have said, just hold tight for now.

If rates drop in the next 3 years, you can refinance into a longer-term loan.

The cash flow is great so you should not have an issue with the refinance.

Hope this helps! Let me know if I can be of any assistance.

Hi @Grant Speer, there are a lot of great wholesalers on BP for you to network with.

Go to the "Network" tab and search the area that you are looking for. Then, simply look for the "Wholesaler" tab and connect.

Facebook groups are also a good resource. They are looking for investors too so it should not be too hard to get connected.

Hope this helps! Let me know if I can be of any assistance.

Hi @Matthew Addison, below are my answers.

1. You can do a cash-out refinance in 6 months to pay off your HELOC.

2. You can do a cash-out refinance for 100% of the value for VA loans so you would need it to appraise for at least 670k. However, the rate gets significantly better below 90% LTV. At that point, you would need it to appraise for at least $745k.

Also, it might be tough to find a place that does HELOCs on investment properties. I am not aware of any so please let me know if you find one.

Hope this helps! Let me know if I can be of any assistance.

Hi @Kyle Smith, I would contact some local contractors and developers.

They would have a better idea of the local market. Also, we do not have much information to go on so nothing anyone says on this forum will be super accurate.

Sorry I could not be of more help. Let me know if I can be of any assistance.

Hi @Daniel Muscarella, there are plenty of ways to invest without buying properties. Below are some ways:

1. You could invest in a REIT or a fund.

2. You could buy stocks.

3. You could buy a business.

4. You could start a business.

Congratulations on starting so young! Excited to see where you go!

Let me know if I can be of any assistance.

Hi @Tyler Youtzy, congratulations on starting your real estate investing journey and for getting accepted into the MBA program!

Thank you for your service to this country.

Your plan to start small and expand from there seems sound.

One thing to be aware of with your VA loan is that you can only refinance to get your entitlement back once. Then, you will have to sell the property to restore your entitlement.

Many PMs are also investor-friendly agents so doing both could be a good way to start. Then, if you decide that you like one more than the other, you can hire someone to handle it for you or you can refer it out.

Since you need an agent's license to be a PM anyway, it is a no-brainer to at least become an agent. 

I would connect with some agents that are also PMs and get their thoughts on things that you or I may not have thought of.

I love the ambition that you are bringing to this forum!

Let me know if I can be of any assistance.

Hi @Diamonn Hymes, first, thank you for your service.

Congratulations on taking your first step in real estate investing!

There are a lot of great people that have already commented on this forum.

A good investor-friendly agent should help you through the process.

If you would like any recommendations, feel free to reach out.

Congrats again!

Hi @Pallavi Irshad, your realtor would likely be your best resource on this. 

They deal with this all day, every day so their numbers are probably accurate.

Additionally, they will be able to help you determine whether this is the best use of your money or if you should put it elsewhere.

I am not super familiar with CT but where I live, anything that has a positive cash flow is considered a good deal.

Hope this helps! Let me know if I can be of any assistance.

Hi @William Patsalis, in today's market that could be a good deal. I do not know where you are located but where I live, anything that doesn't lose money is a good deal.

Is that number of $30-35k including the down payment and closing costs or are those the rehab costs?

If that is the all-in number, a 10% COC return in year 1 with equity from being fixed up is not bad at all.

If you are putting $200k as a down payment, the story could be different.

Hope this helps! Let me know if I can be of any assistance.