All Forum Posts by: Bryan Rodas

@Alecia Loveless

Thank you for replying. I am sorry, I forgot to mention we own a construction company.

Hello,

My dad has saved 220k dollars. We want to start investing in real estate. We were thinking on buying a distressed property (all cash) and then fix it and cash flow for a while until it appreciates enough to sell it. We were also thinking about doing the brrr strategy so we don't pay gain tax. However, there is another method that I read which is instead of spending all the money on one property, to get 2 mortgages in 2 different properties, and divide the 220k in two and buy different properties. Since, they are going to be strictly for cash flow we are confident that it can be possible if we find the right bank or mortgage lender. My dad's credit score is 750 and our house is paid off the only debt we have is our car. Can somebody please help me think of a good strategy. Thank you so much!

@Dan M.

Hello! Thank you for replying. I do understand the process very well. I'm just looking for a mortgage broker or lender who will help me and not just profit off us. We want to use that money for another property.

Hello, I am currently helping my brother trying to refinance his house. We want to find a way to do a cash out refinance or a home equity loan. I'd truly appreciate if someone helps me with this situation? I am located in North Jersey. Thank you so much!

Hello,

I am looking for a wholesale friendly title company located in north jersey. Preferably, Bergen county, Hudson County or Passaic County. Thank you.

Hello,

My name is Bryan Rodas. I am young entrepreneur. I am looking to net work lenders or mortgage brokers. My main purpose is to learn from those with experiences. I am trying to learn how this whole system work. I read tons of books, and I understand the concepts. However, I have so many questions that only professionals with experience can answer.

Please, if you are willing to help me. I'd be thankful my whole life. Thank you so much for your time.

@Andrew Postell

Just to make sure, the lender doesn't count the debt being paid off on his calculation for the dti? Basically, I wouldn't have any problem if I get a loan pre-qualification before getting a HML, as long as there any new debt or I lose my job I'd be able to borrow up to 75% of the value of my home. However, I am worried about the season period which is 6-12 months? Is there any trick? Also, what is the difference between a cash out refinance, and a normal conventional mortgage, or a normal refinance?

@Andrew Postell

Basically, the lender doesn't count the debt that is going to be paid off towards the dti calculation?

If you borrow from a hard money lender. Use the funds to buy and rehab a multi family property. Rent it out and then approach a bank for a cash out refi to pay the HML, won't the loan that you have with HML show up and effect your DTI. Which could mess up your refi and kill the whole strategy?

@Stephanie P.

Thank you for your answer. I was told that the lender can release the lien. However, it really depends on the lender. Some don't care as long as she keeps the mortgage, and paying the same amount of money. There has to be a loophole on how to do it, I am trying my best to find it