All Forum Posts by: Jerry Velez

Hey Bugger Pockets Community,

I just finished reading Brandon Turner's book on investing with little to no money down (amazing book btw) and I am interested in knowing what are people's experience with MLO's and seller financing. How good of a deal would be needed to make this strategy work? 

I have a family member who owns a condo in New York and does not have a mortgage on the property. This family member does not live in the condo and it's valued upwards of 1M. I have been looking at ways to get into investing with little to no money down. But the "due on sale clause" interests me, and I wondered if and when does that get triggered and has it been triggered for anyone? 

@Jay Faulkenberry I was able to get the zone code for the property: R2 Residential. The property actually sits in Atlantic Beach which changes things. Are you familiar with residential zoning restrictions in that area?

Thank you for the advice! I plan on doing my own market research to ensure the property would be the right investment me. 

I see you are a real estate broker in Raleigh. Raleigh is one of the markets I am beginning to look into for a duplex to house hack. I would love to connect and discuss and potential opportunities.

@Jay Faulkenberry Yeah that sounds great! I intended on using a local property management company so I'd love to connect.

@Min Zhang I have tended to look away from my local market because of the high market prices. As I learned more, my fear is slowly subsiding. Thank you for your kind words and I look forward to connecting with you in the future!

@Wale Lawal Thank you for your positive message. I have started taking the steps toward educating myself about a lot of the topics you mentioned, but yet are still to be touched on. 

Thank you for the support!

5-10minute walk from the beach. Maybe 20-25 minutes from Downtown Myrtle Beach. There are a lot of condos closer to the water and I wasn’t sure if those were long term or short term rentals. There have also been a lot of developers in the area buying up plots of land recently.

Has anyone done any STR in North Myrtle Beach, South Carolina? Horry county to be specific. My family owns a 2 BR 1 BA in the area and I have looking at using this property as a STR, as long as the house is zoned for it. I am curious as to what has been anyone experience with STR in similar or the same market?

Thank you for the response and for the warm welcome to the BP community! You are absolutely right about the free education and I plan on taking advantage. I look forward to the journey.

Hi Bigger pockets community, my name is Jerry Velez and I currently live in Suffolk county, New York and just like a lot of people on here, I was terrified to make my first post on here! My background is in healthcare administration and revenue cycle management but the past year I have telling myself, I want more from myself which is when I decided to learn and participate in REI. My goal is to eventually purchase my first investment property by way of BRRR, househacking, or any other method that makes sense. I am a very flexible time in my life so I am looking for opportunities country wide and not limiting myself have not been this motivated in a long time and I am very excited to learn all that I can to make myself into a better investor and business owner. I am currently open to connecting with anyone who may have any advice on how I can start and where to find good resources for my journey.

Thank you