All Forum Posts by: Andrew Garcia

Hi @Winston Jimenez II, the two big ones that you are missing are a title company and a property management company.

The PM is more important than the title but I wanted to include it as well.

Ensure that you are working with a PM that will propel you in your financial position.

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

Hi @Eric Sebast, congratulations on the duplex!

That depends on a lot of different factors. What strategy are you looking to employ? Are you investing locally or do you prefer out of state? Short-term or long-term?

Anyone would need more information prior to answering this question to the best of their ability.

HI @Caden Wakim, any lender would need more information but regardless, there are loan products that would allow you to do it without your dad attached.

If you would like a referral to a lender that can flesh out your financing strategy, feel free to shoot me a message.

Hi @Garrett O. someone made a list HERE.

The list is a little dated so you might have to call around.

You can also look into getting a HELOAN.

A HELOAN is a fixed-rate, fully amortizing loan in a second position.

It is essentially a second mortgage. These loans are much easier to find than HELOCs.

The rate will be higher than a HELOC or first-lien mortgage, however.

If you would like a referral to a HELOAN lender, feel free to reach out.

Either way, the 2 houses on 1 lot will probably cause some issues. I would lead with that when calling around.

Hope this helps!

Hi @Taelonn Harper, someone made a list HERE.

The list is a little dated so you might have to call around.

You can also look into getting a HELOAN.

A HELOAN is a fixed-rate, fully amortizing loan in a second position.

It is essentially a second mortgage. These loans are much easier to find than HELOCs.

The rate will be higher than a HELOC or first-lien mortgage, however.

If you would like a referral to a HELOAN lender, feel free to reach out.

Hope this helps!

Hi @Arman Khondker, I am sure you can find a great agent on BP.

Best of luck with your real estate journey! Let me know if I can ever be of assistance.

Hi @Harley Cedoit, are you asking if it is possible to BRRRR with a second mortgage on the property that you are BRRRRing, or is the second mortgage on another property?

Either way, you can but answering the question will allow me and the others in this forum to advise you on how to go about it.

Hi @Kim Jones, I do not know any hard money lenders but I can refer you to a non-QM lender.

It is similar but has more structured guidelines.

Feel free to reach out to exchange information.

Hi @Daniel Bataller, I can refer you to a lender that does foreign national loans.

Feel free to reach out to exchange information.

HI @Michael Ruvido, the way that I would approach this would be to look at what you would do with the $57,500.

If you use it as a down payment or as rehab funds, you would likely get a higher ROI than 5.74% so it would be wise to keep it open.

However, if you leave it open for the sake of having it open, it might be best to simply pay it off.

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