All Forum Posts by: Jesse Maldonado

I was concerned most with potential refinancing setbacks, so this advice helps a lot. I’ll definitely keep it in mind. Thanks Evan

Thanks George, partnering with a general contractor is definitely something I will consider.

Hi everyone, I plan to start investing out of state at some point this year. I was thinking about using hard money to buy distressed properties that I could rehab and then refinance into a traditional loan to pay back the hard money lender. Does anyone have experience doing this? Is there anything I should keep in mind with this strategy? 

I’ll be there

Thanks Tarik, I’ll keep that in mind if I go the hard money route.

Thanks Scott, I appreciate the help. 

Hello BP community,

   I am saving up for my first buy and hold property and I am trying to buy it in New York City(Specifically The Bronx and Queens) where I live. I am practicing analyzing deals using different investment strategies-one of them being using hard money lending if I can find a good enough deal. I was wondering if anyone knows the standard numbers when it comes to points charged(1-5%) and monthly interest only charges(10-15%) with hard money lending in NYC. Are the rates higher because its NYC and houses are more expensive? How are NYC rates compared to other markets? Or is everything negotiable and/or depends on the deal?

Thanks for any feedback, Jesse

Any one have any advice on becoming a property manager and finding residential properties to manage for others if you have no experience?

Thanks everyone for the warm welcome and advice!

Hello BP community, I just wanted to introduce myself. My name is Jesse Maldonado and I am from New York City. I am currently taking classes to get my real estate license and would like to eventually become an investor/property manager. Look forward to learning from everyone. Thanks!!