All Forum Posts by: Jeff Castro

Hello BP!

Is there a way to get a loan off of equity in LP, Syndication or Private Equity? I liked the idea of single family rental house appreciating and leveraging it to take $ out to put as down payment on another property. I'm curious if there are such things as helocs or loans on any of the above investing strategies.

Awesome! Thanks for sharing. This is very inspiring

@Jonny Nila buy ur first house at any means necessary. Stop playing in the sidelines. My 2 cents.

i used them before.. It seems like they just list it and forget it. Pricing was way too low compared to competitors in my area. I switched to a local company here in So Cal called Home Rentals Group and like them. I think they only work So Cal though.

Is what I’m doing stupid? Please, all opinions welcome.

I’ve turned our first home into a short term rental property. Mortgage is $3,000 and I’m making around $1,000 after all expenses. It’s been steady and I’m booked pretty much the rest of the year.

Goal is to save enough to put 20% down on a higher end investment property in San Diego area as our 2nd property. The idea was to save money living with in laws and make money from home.

I have a family of 5 and it’s been tough living with in laws.

I’ve been thinking of renting a home for around $2,000 but we wouldn’t have any furniture since it’s being used by short term rental. I would need to buy at least some basic furniture and appliances. Like washer dryer, tables, couch, etc.

What is the best financial move here? Is it better to move back to my short term rental home and just save slowly or is it better to rent a house that is cheaper than my mortgage plus the extra income from short term rental? Downside is having to buy some furniture and appliances if i were to rent.

Please, any advice is appreciated.

 Thanks. I will definitely reach out to them.

Hello BP,

I currently have a SFH that I am using for short term rentals. I want to buy a 2nd owner occupied home, live there for a year and then turn it into a short term rental.

Question is about the financing on the 2nd home. I've spoke with one lender and he says they do factor in 75% of rental income but it would need to be a long term rental with a lease agreement. 

Have you guys found this to be true? Are there any lenders out there that can factor income from STR?

Any help is appreciated.

@Jared Baker I’m still looking for my first rental property myself. Most of the ones I’m looking at are out of state.

Today I connected with a local realtor to help represent me. She was nice enough to visit the property to give her expert opinion. She also sent me videos from her cell phone which helped me feel more comfortable about the property. Submitted my first offer on my first rental property today!! Good luck to you.

Yes sir! Looks like BP is the place to look for small home loans. 

I plan on dealing in the 1,000,000 soon!!!!