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All Forum Posts by: Anna Cerda

Anna Cerda has started 9 posts and replied 26 times.

Post: Credit Cards to Pay the Mortgage

Anna CerdaPosted
  • Posts 26
  • Votes 5
Quote from @Mohammed Rahman:

Hey Anna — yeah, this comes up a lot, especially for folks trying to rack up points or ease short-term cash flow.

Plastiq is probably the most common route, but like you said, that 3% fee adds up fast, so it really only makes sense if your credit card rewards outweigh the fee (which is rare) or if you're in a pinch and need the float. Just make sure your lender accepts checks from third-party services — some don’t.

The prepaid card → money order method can work, but it’s sketchy, time-consuming, and some card issuers or banks might flag it as a cash advance, which comes with even worse fees and interest.

Honestly, unless you're just doing it short-term for a specific reason (like hitting a credit card sign-up bonus), it's not the most efficient move. Better to explore a HELOC, short-term personal loan, or just tightening expenses to build a reserve.

If you're doing this as a one-off, Plastiq’s fine. Just avoid building a habit around it.


 Hi Mohammed,

Thank you for your thoughts.  I was just thinking out loud.

Post: Land Purchase Offer

Anna CerdaPosted
  • Posts 26
  • Votes 5
Quote from @Mohammed Rahman:

Yeah, you can get a loan that covers both the land and the construction—it’s called a construction-to-perm loan. It lets you buy the land and build, all under one loan so you don’t blow your cash just on the lot. Some banks might want you to already have plans, permits, and a contractor lined up, so it's not as simple as buying a house.

If you’re just buying land by itself, that’s a land loan, and it usually comes with higher interest, bigger down payment, and more hoops to jump through. Also, not every piece of land is ready to build—make sure it’s zoned for multi-family, has utility access, and isn’t a pain to develop.

Basically: yes, there’s a loan for what you want, but you’ll need your stuff together before a bank says yes.


 Thank you!

Post: Land Purchase Offer

Anna CerdaPosted
  • Posts 26
  • Votes 5

Hi BP Family,

I am interested in buying a piece of land to build a multi-family in it.  I was wondering if there is such a loan available (land purchase and for construction) instead of depleting all the cash in just the land purchase.  Also, I have never bought land alone, any guidance would be amazing.

Thank you.

Quote from @Kate Sanchez:

@Anna Cerda   Check DOB for old permits/CO sometimes it is helpful. What’s your timeline & budget for the duplex conversion?


 I do not have a timeline, per say, however I do what to gather the information before I hire anyone. 

Post: Credit Cards to Pay the Mortgage

Anna CerdaPosted
  • Posts 26
  • Votes 5

Hi Real Estate Gurus,

I have a question/curious if anyone here has used any credit cards to pay their monthly mortgages.  I've looked into ideas and have found two:

1. Plastiq- they charge 3% fee

2. Pre-paid card to be purchased with your credit card and then buy a money order- seems burdensome- not sure if totally doable.

If anyone has thought of strategic ways and would share, TIA.

Anna 

Quote from @Andrew Jennings Freerks:

@Anna Cerda good morning.  I own a few Bronx townhouses myself, and have used Jill for my architecture needs.  She lives in Mott Haven and has been very helpful. I'll DM you her details


 Thank you!

Quote from @Mohammed Rahman:

Hey — for the driveway, your best bet is to start with a zoning map and check the DOB zoning documents online. Sometimes you can get a zoning consultant to do a quick feasibility check for like $300-$500 instead of hiring an architect right away.


 Where is the best place to get a zoning map and what do I look for.

Hi Everyone,

I have two separate Bronx multi-family properties and need the following information:

1.  CO does not say that the property has accessory parking, and to apply for a driveway in-front of the house I need a architect or engineer, can someone recommend the best way to know if this is feasible, without incurring insane fees.

2. I would like to create a duplex- this is in my primary residence and I know in NY the Yes, housing was approved but not in effect, for an ADU. I also need an architect to help me with the process.

Any recommendations of someone you have worked with, would be greatly appreciated.

Thank you in advance.

Post: 6 Unit Building in the Bronx

Anna CerdaPosted
  • Posts 26
  • Votes 5
Quote from @Caroline Gerardo:

6 units can go CMBS commercial or Non QM depends on valuation and market rents.

It is going to be a LONG road to turning over those units in New York. Expect that the rents seller claims maybe not what they pay.

Read: https://ag.ny.gov/sites/default/files/tenants_rights.pdf  NYC tenant rights 


 Thank you

@Andrew Postell Thank you for the thoughts on this topic. I think overall real estate is so much more than just numbers but management skills.  Markets change but one thing stays constant everyone needs a place to live and there are many options, so make your option the best in the market.