All Forum Posts by: Dion Jones

Can anyone recommend a good contractor in the San Antonio area that isn’t  too backed up???

@Nicholas yes about 190k of equity. The tenant would like to purchase the property but as she can't bring her own financing within the next 12 months the ability to sale and 1031 is likely not an option. I'd like to stay somewhat flexible in the event she could bring her own financing. I think with the 80% LTV limit with either a cash- out refi or HELOC would allow which ever loan vehicle is utilized to pay the property when she can qualify and purchase. There's also the option to pay it off completely and extend owner financing until she can qualify. Is it legal to owner finance and put some kind of verbiage and a LTV percentage not to exceed in a sales contract that would allow me to utilize a HELOC??

Hello BP world! I am some what of a newer investor and looking for some incite from seasoned real estate investors as to which Route I should take to purchase my next property given my current scenario. I have a property that cashflow's $300 bucks and is valued at 240k with a balance of ballpark 50k. I have a great long-term tenant that has completed a lot of upgrades and intends on purchasing the property as soon as she can bring her own financing(identity theft victim) or I extend her owner financing.Does it make more sense to do a cash out refi or utilize a HELOC?

If I were to do a cash out and go from a 15 to 30 year I'd still cash flow 100 bucks or so. A HELOC even less due to the slightly higher rate. The tenant has been advised that she maybe able to obtain a VA loan this January. If that is the case 1031 is definitely my 1st choice.

Hello BP world! I am some what of a newer investor and looking for some incite from seasoned real estate investors as to which Route I should take to purchase my next property given my current scenario. I have a property that cashflow's $300 bucks and is valued at 240k with a balance of ballpark 50k. I have a great long-term tenant that has completed a lot of upgrades and intends on purchasing the property as soon as she can bring her own financing(identity theft victim) or I extend her owner financing.Does it make more sense to do a cash out refi or utilize a HELOC?