All Forum Posts by: Cindy Gonzalez

@Raul R. @Percy Matsunaga Thanks for your replies. Those are good points.

Percy, When you say purchase the NF home under my name, do you mean to make me the borrower and have siblings as co-signers? I might still need co-signers as I do not think I would get approved for a loan large enough for a 6-bedroom house.

Question(s) for a unique scenario: My 2 siblings and I are considering pitching in and co-signing together on a large home for us to move into with our parents and extended family in North Florida where the homes are A LOT cheaper than in South Florida where I currently live. My parents are getting older and could use help financially so we would pay all the bills and mortgage. My sister has a family of her own so it would be at least a 6 bedroom house. My plan originally was to purchase a duplex, house hack for a goal of cash flow or at least live "for free" and save up to do it again. Obviously, in this new area, it's a whole new game that I have a lot of questions for. Such as: If we use an FHA loan for this home, is there a way I'd be able to use an FHA loan to purchase my next property if I move out of the family house? How will the mortgage on the family home affect my getting a loan for the next property? And how does this overall affect my future rental investments? I would not be getting any cash flow in this situation or plan on selling it at least for a very long time.

Also, I have the best credit, most money saved and best debt-to-income ratio out of my 2 siblings; should I sign as the borrower or a co-signer, and does that make a difference? And there is anything I should know about this strategy that I am not asking?

I know these are a lot of questions and maybe a unique situation but it's an unexpected change to my original plan that I want to be prepared for, should it happen. Any input would be appreciated. Thank you in advance!

Hi BP community - I hope everyone is doing well and staying safe and healthy.

I bought a property lot in a pre-construction area in Cali, Colombia that I paid off in 2018. I am very compelled to do it again, being that the USD goes so far Colombia and that there is less risk than some people would assume. 

My family is from Colombia and I had some help from an aunt with connections there so I am looking to leverage that but I still have very little experience. Does anyone have any tips or experience in buying in Colombia or South America? 

Looking forward to hearing everyone's comments! Thank you!

@Nic S., I don't feel like I am a natural salesperson so it's mentally tiring at times but I love the tech industry and am good with people (for the most part haha). I'd be happy selling something that I'm interested in so I love the tech real estate idea! I haven't heard much about jobs like that so I didn't think about it - thank you for that!

@Nic Stergion Hi Nic,

I’ve lost some passion for it, to be honest - and although I’ve been sucking it up because it does pay my bills and helps me save, the idea of being there even another year feels a bit dreadful. I was brainstorming on what else I could work in where I can still make a decent living while learning about what I actually care about (real estate investing and building connections).

I’m located in South Florida. Deerfield Beach area.

@Kathy Henley , thanks for your reply! That’s how I’d love to start - providing as much help as I can to managers as I learn along the way and prepare for my first investment. I was in hospitality for years so I know I’d do well dealing with people (tenants) and handling several tasks at a time as well as 3 years sales experience - which consists of always being on the phones, booking appointments, meeting clients, etc.. not property management or real estate related but hoping to be given the chance to learn. I believe in Florida, a real estate license or experience is needed for most PM jobs. Is it the same in Missouri, or where you worked? And if so, did you need to get a license to start in the position you started in? I am hoping to not have to take that route just yet, as I was planning to switch jobs soon - but I will I have to.

Thanks again, Kathy!

Hi BP Community,

I am looking to transition from my current SaaS sales job to something real estate related as I am saving up to invest in my first property. I want to start applying at property management firms but I have none of the requirements and no experience. I am open to getting my real estate license to facilitate but does anyone have any feedback or experience in working at PM firms and what entry positions I should look for? I will probably be taking a pay cut as I've heard there isn't a whole lot of money in it for the work you take on but the knowledge and connections I'll gain are what matters to me for when I am ready to invest. I'll take what I can get and work my way up.

Thanks in advance and looking forward to hearing everyone's responses!

@Kiera Underwood No problem. I wish I could do conventional! I will eventually but starting out, I figured the 3.5% would be best for me since I want to get in the market as quickly as possible. I do plan to refinance once I build 20% equity in the property.

Thanks for your feedback!

@Kiera Underwood I thought PMI was for anything less than 20% (MIP for FHA).

@Mitchell Jaworski Great, there's hope! & definitely, I plan on moving to conventional loans once I have more skin in the game and more wealth built up but FHA makes the most sense to me to get in the market quicker. Messaging you now for that property calculator.