All Forum Posts by: Jerry Padilla

@Gary Swartz

I am glad to answer financing questions for you on multi-families. 

Here is a link to some information on conventional financing. 

http://www.biggerpockets.com/blogs/5110/blog_posts...

@Harpreet Walia

Here is a blog I wrote up with some basics on conventional financing. You can get up to ten conventional loans and when working with an investor friendly mortgage company they will not only count your income right away but also 75% of the leased rent or potential market rent also.   

http://www.biggerpockets.com/blogs/5110/blog_posts...

@James Wise

@Account Closed

Are some really great guys to work with. They are knowledgable, honest and friendly. As investors themselves, they know the best properties that cash flow and have a proven successful track record. I can't wait to see where their team is 10 years from now. Keep up the great work building your business and assisting others with growing theirs! 

Thank you! 

@Josh Williams 

@Ramon Jenkins

You can get up to 10 loans with conventional financing.

Here is a link to a blog I wrote up with some information on conventional financing. 

http://www.biggerpockets.com/blogs/5110/blog_posts...

@Matt Sherman I agree with @Nick Versetto rates are low right now and it is a great time to do a cash out refinance. The only issue with a HELOC is that the rate is adjustable. To have half your mortgage with an adjustable interest rate can significantly affect your payment when rates go up..... Which they will. It is well worth the low costs associated with cash out refinance.

@Kimberly Ashkenazi they can be difficult to get rid of as well. 

@Jeremy Pace

All the time.

@Girard Newkirk

If you go the route of hard money and Keep the property as a buy and hold...... Than you can rate and term refinance the property with a conventional mortgage. 

@Darnell Palmer 

Lenders want you to have some skin in the game if it isn't a primary residence. You can purchase a multi-family FHA with little down to get you started.

Here is some financing info for conventional;  hopefully you find this helpful! 

http://www.biggerpockets.com/blogs/5110/blog_posts...

Also you can count 75% of the rental income right away with a purchase. You just have to find the right lender. 

@Bobby Gillespie

You can do a cash out refinance on your property and get a fixed rate mortgage on a 30 year term. If you do an equity line of credit, the only problem is rates will only go up from here - which 10-20 years down the road could significantly increase your payment. With a fixed rate mortgage.....your payment stays roughly the same, give or take for property taxes. 

Here is some info on cash out financing....

http://www.biggerpockets.com/blogs/5110/blog_posts...