All Forum Posts by: Guifre Mora

I have two homes in two different states financed with a VA loan. Is there a way to refinance both of them into one loan that is not a VA loan so that I can have my full entitlement to purchase a house in the state I'm currently in?

I figure that it's not possible due to the different states & the appraisal requirements. Figured I would ask the experts to make sure.

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*This link comes directly from our calculators, based on information input by the member who posted.

I included closing cost (3% of the asking price), and I have averaged out the payment over 360 payment period (30 years X 12). Is that approach correct?

Also what is the monthly payment you calculated? I'm curious about what mistakes I made in my calculation and I will correct them accordingly!

Thanks so much for reviewing my analysis!

Hey BP,

I'm curious if you can share what refinance rates that you're getting on investment property? Credit >800, and we have about $140000 in equity on a property worth about $390,000.

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*This link comes directly from our calculators, based on information input by the member who posted.

Hi there,

I'm doing a 30-day deal analysis challenge where I analyze one deal per day. This is my 5th day :)

Based on the asking price, I estimated it will generate a negative annual cash-on-cash return, assuming 20% downpayment. Note that I included closing cost as 3% of the asking price.

Can someone help review my analysis and provide any feedback?

The detailed analysis can be found here: https://bit.ly/2xX89A5

Thanks so much!

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*This link comes directly from our calculators, based on information input by the member who posted.

Thank you for the great points.  @Guifre Mora I def need to reanalyze considering the zero cash flow, the "holding costs" during rehab period.   Also, when you say "leveraging the HML to 30%", do you mean I should calculate the HML cost at 30% instead of 10-12% to cover these unexpected expenses? On another note, I have decided to wait for the global pandemic dust to settle before moving on any deal. My reasoning is that I likely won't be able to (1) fly out of state to see the property, and (2) get contractors in to start rehab during this crisis and so that would increase my holding costs and rehab timeline. In your opinion, is the uncertainty affecting the R.E. market is a valid, sound reason to pass on a potentially good deal? Being this would be my first investment property, I am very hesitant to pull the trigger in light of the current state of affairs.  However...now more than ever, I'm reminded of the quote, “Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”.  In researching how this pandemic will affect the rental demand/prices in my target area, it's early to tell, but it looks like it has and will continue to decrease demand for a few months, and projected to bounce back by fall - but no one knows as this situation is completely unprecedented. That being said, it could be the perfect opportunity to buy in the short term, rehab and be ready to rent by fall.  Any thoughts?

So I have this property in Inglewood Ca thats on 4,914 sqft lot and zoned R2 (duplex). The property has a beat up tiny house on it 360 sqft.

The seller is asking for 400k I'm having trouble connecting the dots with my buyers as far as profitability goes though.

My thoughts were that someone could rehab the tiny house and build a second tiny house on the lot (front house back house situation) and then either sell them or cash flow them.

Here's how I crunched the numbers.

Asking price: 400k

Rehab tiny house ($75 per sqft x 360 sqft): $27,000

Build of new slightly bigger second house ($138 x 900sqft): $124,200

Misc blanket cost: $20,000

Total Invested: $571,200

Then I ran comps for what the new property would go for and I found

ARV: 720k

If the buyer were to sell, then it would be a $148,800 profit.

(also buyer could cash flow it for a few years and then sell it for a potential higher profit

Also NOT TO MENTION... inglewood property value is increasing due to the new building of the stadium.)

Does any of this matter to an investor? Are my numbers correct? Why would an investor say that this deal is priced "too high"?

Thanks in advance for your thoughts and opinions!

For those who have actively been investing in San Antonio, TX, either in state or out of state within the last year or so, what have plans been lately? What types of deals have you been looking for? I'm personally a big fan of rentals so that would be my main area of interest, would like to hear opinions of flippers as well though. Thanks in advance