All Forum Posts by: Esteban Jimenez

Hello Everyone,

I am currently looking at an off market Deal in Clemson SC. A friend of mine is selling me his 4 bedroom 2 bath condo which is currently occupied. The reason he wants to let it go is because he wants to open up another business in another state and the idea of maintaining a property is just to much of a hassle. 

The price we agreed to is 125k contingent to leaving the monthly payments at $325 per student (4) until august 2022 and contingent to him closing on his new deal. The students also pay the utilities which gets divided at the end of the month. Theres a $167 HOA monthly fee and last years taxes were $1,860.

So now that you all have an idea, my current mortgage guy can get me a loan at 4.875 interest with 20-25% down. Is this a good deal and if not whats the alternative? what banks are you using? I Do have a home and I thought about refinancing or doing a Heloc. I purchased the home last year and added forced appreciation. If I Refi I can probably take out 20k or more if it appraises well.

Thank you

@Salvatore Lentini

What is the safest and quickest way to grow your portfolio? Would you go to a lender and but someone out? Of course it needs to be a cash flowing business but I'm curious to hear your input. I'm at 1 unit so far and looking to expand this year. Im in SC and the market is HOTT!

@Matthew Grisafe

I used a USDA loan in SC which means you are able to pay down 0% and there are also ways to pay 0% on closing but I did not go that route since the market is HOTT. People want money fast and getting approved for the closing cost would have taking longer for me to close.

@Nate Sanow

Haha I totally agree with you. I hope your able to take advantage of the site and grow your business too. Best of luck with everything!

@Hugh Jazz

Thats a good size! Congrats and enjoy it

@Jeffrey Evans

I was on the same boat as you not to long ago. I made sure to turn on bigger pockets as background noise. I also listened to ed mylett, Tom bilyeu, Luis Howes and many other motivational speakers and gradually i brained washed her in positive way lol .. Something else that helped me was having the knowledge to answer whatever question it was that she would ask. Making her trust you and feel confident in you will go a long way. Be patient and trust the process. Good luck and wish you the best 👌

@Matthew Irish-Jones

I agree with you 100%. Couldn't have said it any better. Also let me know when you find out how much time you are spending. Very curious 🤔 😁

@Josiah Patrick Zebarth

Smart man, I wish you the best of luck with your realestate goals.

@Tanner Ueland

Thats great news, I wish you the best of luck!! 💪💪