All Forum Posts by: Cesar Lopez

Hello BP world,

About 2 years ago I bought a single family home in Philadelphia.  I did a lot of things the wrong way, but I feel like all is not lost.  I've been working on getting my credit score back up (roughly mid 600's now), I'm working on getting my credit cards and line down to 0, and have 100% equity in the house (valued at roughly 40k according to zestimate [i know...zestimate isn't to reliable].  My issue is that I want to be able to refinance my house to get some cash out.  I do have a couple of charge off credit cards (part of the mistakes) which I'm afraid might keep me from refinancing.  Here are my questions:

1.) How am i able to refinance with the charge offs and ok credit score?

2.) If I am able to refinance, should I use the money to pay off the charge offs?  or use the money to reinvest into a new property?

Any help is appreciated.

Hello all.  I'm currently going through my first eviction process with my tenant in Philadelphia.   I was given a date and time that I can change the locks. I'm unfamiliar with what the next steps are though?  If they haven't moved their stuff, what do I do with it?  When I change the locks what else legally do I need to do?   Any help/advice would be very much appreciated. 

Thanks!!

Hello community. Recently I purchased a single family house cash in Philadelphia. Right now, I would love to put a mortgage or some kind of home equity on the home but the issue is the house is only worth 35-40k. I need some advice on possible avenues I can take to get some equity out of the house. Any advice?

Hi @Mike McCarthy I sent you a quick note.  Please let me know if it went through.  I would love to get more information on  who your contact is.

Hi all,

I've recently purchased my first investment property in Philadelphia and am almost done with the rehab.  I am looking to do a refinance with no seasoning for at least the purchase price and rehab.  Does anyone know who I can reach out to for this?  Any help would be very much appreciated.

Thanks,
Cesar

Hi guys, I am actually in a similar situation. Except my purchase price/ARV is a bit less (34,500 and roughly $50,000 respectively). I am looking for a bank to do delayed financing or no season refinance. Will your contacts be able to assist me in this? I appreciate any help.

Thanks

Cesar

where are your properties that you are wholesaling?

I'm buying a property in Philadelphia using a credit card and a personal line of credit.  It's my first time using this method (I've previously used hard money lending), so I'm pretty nervous about it.  Are there any suggestions for lenders that are willing to do a cash out refinance after my closing?  The loan i would need pretty small (roughly 40-48k).  

Came across a opportunity and need a little advice.   Purchase price is 18k. Needs about 10-13k in rehab (mostly because there is a slight mold problem). Rents are roughly 900-1000 a month.  It seems like a decent investment. I'm just concerned with the area. It's not in the heart of the rough neighborhood. More along the outskirts... but it's close enough.  Wanted to hear people's opinions on the opportunity.

@Steve Babiak can i connect with you for this information as well?  I would appreciate it.