All Forum Posts by: Ernest Fernandez

Best way to pierce into Austin as a newbie is to network with other big players and top brokers. join as a LP on a deal to learn it while building your portfolio. if you want a place thats hot but less espensive then north dallas ftworth.. if you want great value add we can help you here in san Antonio

    Hi Everyone, I'm new to bigger pockets but I'm not new to real estate. I'm just new to doing things as smart as y'all... 

I bought my first rental property in 2000 for a relative and before I knew it he had paid for the house. Long story short, I ended a 34 year career in semiconductor manufacturing in 2016 with 6 rental properties and a lot of money in a 401K. I didn't want to depend on the stock market so I set up a self directed IRA LLC and bought 6 more rental properties here in New Braunfels Texas. The problem is I have too much equity in the properties because you have to do NON RECOURSE loans inside a self directed IRA LLC and the banks that I have found that will do NON RECOURSE only do loans at 50% LTV. 50% of my IRA LLC is equity that is just sitting there. I can only find hard money lenders that are willing to go more than 50% LTV and I'm not willing to pay the 3 points and 8.5% ARM rates that I'm being offered. I'm not ready to stop at 12 doors but I'm strapped for cash and can't pull the equity out of my self directed IRA LLC. Does anyone have any suggestions?

Hi everyone, 

I am relocating to Dallas, I want to get my real estate license and study for the exam online. Is there any school/web platform you can recommend ? 

I have a rental in CA with negative cash flow, will do 1031 exchange and have about 100k to invest. Thinking to invest in Austin as I plan to move there. Any advice/suggestions?

I have 10,000$ saved my lease for apartment is up come August I really want to buy my first duplex but I only have a work history at my new job for 4 months I think about trying owner finance but it doesn’t seem easy to local or find them. So my general question what would you do in my situation?

 Im looking into a few areas in texas as well! would love to chat