All Forum Posts by: Ariel Hernandez

@Yiftach Ilyov I happen to invest in Indianapolis since my brothers live there for 11 years now. I recently moved to Tampa but have not pull the trigger on buying anything here. 

Are you currently investing in Real Estate, send me a PM if you have any questions about the Indianapolis Market, I think I can help!!

@Kenneth Garrett I will speak to a couple of local banks in my area and see what I can get

@Stephanie P. I spoke to Tom, He will be sending me different scenarios, Thanks. 

@Allan Szlafrok I sent you a PM, will be waiting on those names, Thanks in advance 

Thanks for the info @Laura Williams, I took the recent interest rate hike into consideration, my credit is not that bad and property cash flows well, I got a little worried about the LTV, I don't want to leave so much equity in the property if I'm going be paying 7-8%. Please PM me with that bank's info, to see what rate they hate these days, thanks

@Tarik Turner my credit went down a bit recently but is still in the low 700's 

I will like to get closer to 75% LTV

Thanks for the confirmation @Jason D.

Happy Holidays BP members!!!

I've been slowly acquiring a few rental properties using profits from my primary auto collision business. I contemplated selling a 3 family  house in Newark NJ and use the funds to a different product. Instead of selling a friend suggested I should look into a cash out refinance and hold on to the property a little longer since the rents should cover the loan. 

I've done some research and started the initial process with one company but find the interest rate of 6.50% to be a little high specially when they are using 60% LTV.

Are these rates fare for loans given to an LLC?

Any other finance option I should consider?

Thanks in Advance 

Ariel Hernandez 

Welcome to BP Christine, I'm an investor from NYC that invest in Indy, I met a lot of great people by going to different meet ups. Good luck!!!

I personally lost money on my first two deals and thought it will be easier when I got started. I think you need to take a step back and breath a little. I found great contractors (that I still need to manage) great tenants (that I still have to call sometimes to collect rent) great realtors ( that still need to make sure they are doing their job) and I’m personally a decent landlord who doesn’t cut every corner when rehabbing a property. Any business requires strategy, knowledge, execution, adjusting and readjusting, real estate is no different.