All Forum Posts by: Guifre Mora

Hi Tonya, what stater are you refinancing at?

@Justin Wotring buy 2 properties in GA. That the costs at closing will be covered by the 200k. Rent them and cash out refi both and purchase a 3rd property. All 3 properties will pay for themselves by the tenants and at 6.5 years you’ll be clear and free.

@Austin Nicoson if you find a great deal go for it.

There is a great advantage in owning a property in the same town you live. You know the town very well you can do your due diligence very effectively. If you are a landlord that his hands on you can avoid some expenses, maintenance and small fix or keep them low.

In those three years set up a system where your tenants can interact with you as a landlord remotely without you having to be there in town that way when you move you can continue to manage your property remotely, set up a relationship with local vendors or so you can contact remotely to do maintenance in your building if necessary.

I have a client who owns 150 homes in the East Coast and lives in the West Coast and he manages all of them himself. With this system.

@Justin Tippens it’s all math.....

775*12=9300

9300/70000= 13.2 % ROI

Say you put down 5K 14.3% ROI

If you go conventional loan and you get a 6% interest rate It will leave you 8.3% . In your pocket. As long as you keep a positive ROI you are golden. You can pay it off in no time.

@Cole Black would you go to a junior doctor for your health issue?

Of course not.....you found a.ss for a realtor. Yes he is right he is not a good fit. Move on and shop for the one who will be there for all your business. There are plenty of realtors who want your biz.

@Chris Cusiter

I want to say that 3% is in par with the norm. He will depend on the broker and the lender for sure you can still shop around and see if you find a cheaper origination fee lender or broker

@John Cassel yes they are I’ll be happy to help

@John Maynard it's common I've done thousands of deals with LLC and the process is getting the loan in your name and move the deed to the LLC in escrow. When it comes to your landscaping biz if it's under another LLC it should be protected from other investments. But there are some loan products that lend to LLC only mostly HML specific to investment properties.