All Forum Posts by: Gustavo Zamora
Gustavo Zamora has started 3 posts and replied 9 times.
Good afternoon BP members, how did you'll find your investor friendly title companies In the DFW area. Any suggestion, or tips on what questions to ask, and how to approach. Thanks in advance.
Post: Waco - contractor needed for a rehab
- Posts 11
- Votes 2
Im In DFW I may be able to help you with that!
Quote from @Account Closed:
Quote from @Chris Capone:
Quote from @Account Closed:
I have a lender that actually offers 0 points and 7% interest.
Im interested in hearing more about this! I'm local here in Dallas, I will PM you.
Post: Searching for First multi family unit
- Posts 11
- Votes 2
Originally posted by @Kevin Sobilo:
@Gustavo Zamora, you are correct that sometimes the terms of a deal (type of financing, seller assist, inspections, etc) can affect whether a seller accepts your offer or not.
FHA financing could affect whether your offer is accepted. If you prefer FHA financing, offer it, but also have the agent tell the seller's side that you CAN if necessary switch to conventional financing. This way, if the FHA appraisal cited repairs needed for the financing you could switch midstream to close the deal.
If the seller knows you have flexibility to close the deal you have a better chance I think.
Thank you for the feed back! If I'm striking out I may have to just switch to a conventional loan! I Definitely want to go FHA. Thank you !
Post: Searching for First multi family unit
- Posts 11
- Votes 2
Originally posted by @Phong Tran:
@Gustavo Zamora Great first step! I'm always a big advocate of utilizing the FHA loan as one of your first MF properties. With a 3.5% downpayment, you'll have a bigger cash-on-cash return (CocROI)!! You're right that it may be more difficult going with an FHA loan, but it all boils down to the negotiating process that you, your agent, and sellers have.
Thank you for the feed back! The market here is hot but has been slowing down. Hopefully with a solid offer I can land a deal using FHA loan
Post: Searching for First multi family unit
- Posts 11
- Votes 2
Hey BP member, my name is Gustavo I am 24 years old and I'm looking to buy my first multi family unit in the DFW area! I have 50k saved and ready to invest. I recently sold my primary residence which I had an FHA loan on. I plan on house hacking the multi family unit. Any advice if I should go with an FHA loan or go the Conventional route. I know it would be hard in the market trying to go FHA . Any thoughts?
TIA!
Post: Cash out refinance on primary residence information
- Posts 11
- Votes 2
@Tina Tsysh Thank you for the reply! I have 82 thousand in equity, and I’m looking to purchase a duplex .
Post: Cash out refinance on primary residence information
- Posts 11
- Votes 2
@Evan Polaski Thank you for the information! I will be calling around first thing!
Post: Cash out refinance on primary residence information
- Posts 11
- Votes 2
I currently have a FHA loan on my primary residence. I want to get the equity I have on the house to invest in a multi family. I need advice like can I qualify for another loan?