All Forum Posts by: Fred Gonzalo

Hellp BP World!

 Looking to see if anyone has experience and what the avg numbers are for cash out refi on rental properties owned free and clear.

I am in New Jersey ..does anyone know a good small bank I can get in touch with that are reputable.?

I have property free and clear with tenants providing good cash flow...I wanted to see If i can refi one of those properties and use the cash for a new property im looking to get. And whats a good number..  ex... 75% of what house appraises for..6% intrest for 15 years?

Should the underswriter have a easier time with this project rather than a reg home mortgage? 

Thanks so much.

thanks @Edgar Sulca and @KinYat Lam.  That was easy for me to make my choice and tell my dear uncle Ruben what to do.  Ill get him started on BP as well.. always great to get useful info from here.. can save u a lot of mistakes and dollars =)

Hi BP Community

Asking a question for my Uncle Ruben...who is new to the real estate game..have a question for you guys... he is looking at a property..75k fully rehabbed with a promise of tenants paying $1,100. Ill leave that up to the property managers since he seen proof of rental income from previous tenants in the area. My question is..should he use the Robert kiyosaki method...take out a "good" loan... using Other peoples money or should he use all my 60k in my bank account and get the rest from hard money lenders? Banks don't seem to lend for investing for property being 70 and lower in new jersey. All comments welcomed =)  would love to hear your input...thank you very much BP!

its safe to say you don't talk to this friend of urs anymore @Darrell Shepherd...  if the deal is a handshake...no legal matters can be taken I assume?

Thank you guys...I think I will take that route and get more experience. house is pretty cheap but I think it'll be worth it..headache free.  Any tips on finding the next deal?  njmls.com?  or also go with a realtor?

Hello ALL.  Read the book millionaire by 30 by alan corey..great book.. asked him on twitter for help..he re directed me to this site..and Ive got to say..its been great. You all seem like great people and this site is the REAL deal! =) Anyway, I'm not a real estate pro by any means, but that doesn't mean I wont learn. Currently I just bought a property..fixed it up and its in the market in Nj.  How hard is it to sell a property by YOURSELF? I would like to sell this property but not go through the regular realtor which will take 6% of the sale. One day I questioned myself, why cant I just sell this myself? Ill be up for the challenge...  I wont fear it even though my profession is totally different . if anyone has done this, please explain the process . thank you.

Hello, kind of new... My cousin is from Princeton nj. and said he got his property from craigslist. I was looking at a property in Trenton nj myself from craigslist...my question is..IS IT SAFE? anyone have experience with buying or lookin at properties through craigslist?  I saw a property with my cousin..we went driving to Trenton, and conditions were kinda bad..but the house was nice..and cheap with tenants already in it. found it through craigslist..  anyway to make the long story short I lost the deal because I was afraid to buy off of craiglist

has anyone gotten some solid info on this?  I know the property managers on broad st in Trenton suck. my cousin owned a place there and he has serious problems with those  property managers.  do your research.

we need info

can someone tell me how they find houses besides Zillow and MLS? whats yellow letters? I am in NJ