All Forum Posts by: Charles Carillo

@Shannon Beahler

I would suggest to not purchase any properties until your credit is "fixed." Improving your credit score and increasing your liquid funds will make it easier to be approved for a mortgage while also saving you money with a lower interest rate.

@Nik Frid

VAs are a great addition to any team. Start them with a few simple tasks and keep adding new tasks as you become more comfortable with them. Start making a list of repetitive, simple tasks that you are always doing and start there. 

@Ockert Kruger

We have partners who are foreign investors. DM me and I will send you contacts for; attorneys, lenders and accountants that they have previously used. It is important that you hire professionals that have experience working with foreign investors.

@Keith Lanier

There are different types of syndications. The 2 main types are 506(B) and 506(C). In 506(B), the LPs do not need to be accredited but there must be a preexisting relationship between the GPs and the LPs. In a 506(C), all investors must be accredited (no need for a pre-existing relationship). 

@Andre Olsen

At some point, you are going to need to put that cash into a bank if you are purchasing real estate. A title company or attorney are most likely not going to accept $50k in cash for a down payment. I guess you could give them 50 money orders for $1k each but when you purchase the property; but your name and social will be tied to the property (or a company you have ownership in and an EIN). 

Next is the lender. You are showing a much higher income if you declare your cash payments. This will most likely result in an easier approval process on this mortgage and future mortgages. The bank will most likely not count funds that have not seasoned in your bank account for a set number of months towards the mortgage approval.

I highly suggest you declare all of your income; even if you are not investing in real estate.

@Keith Lanier

Are you asking about using mezzanine financing when purchasing commercial properties?

Mezzanine financing is a hybrid of debt and equity financing. It helps investors bridge the gap between the senior debt (mortgage) and the equity (investor funds/down payment). Mezzanine financing is an advanced strategy for seasoned commercial real estate investors and takes time to arrange.

@Account Closed

I would search out a real estate agent that works with landlords and renting their apartments. Look at the rental listings by agents in your area. Find units that are similar to yours and contact the agent to have them rent yours.

@Shu Matsuo Post

Tampa is a great market. We have multiple apartment complexes there. What types of properties are you focusing on? Are you looking to be an active investor?

@Mariah Pierce

We have partners who are foreign investors. DM me and I will send you contacts for; attorneys, lenders and accountants that they have previously used. It is important that you hire professionals that have experience working with foreign investors.

@Ricardo T.

I would not want to lose the 2.25% rate and would avoid refinancing it at twice the current interest rate. The major drawback with VA loans are the fees; the funding fee runs 1.4%-3.6% (as of 2020). This fee is built into your monthly payment which can be a little deceptive when you are comparing VA rates with conventional rates.