All Forum Posts by: Jon Huber

@Martha Daisley The good new is that you have options. There are a few variables to consider. Would you be paying a higher rate with the LOC or with the refi? You can use the LOC initially and then the cash out refi to pay off the LOC. Then, you would still have that credit for a future purchase if need be. That would be my move, but I also don't know all of the factors that could sway me in another direction (rates, purchase price, location or property, balance on duplex, etc).

@Marcel B.  Congrats!

@Mark Halecki Welcome to the community... keep educating and pull the trigger when you know it's right. Good luck out there!

Palm Beach County Investors (or future investors)...

There was a lot of interest in a pretty casual meeting from investors and future investors, and we've had GREAT meetings... why not another? It will be free to attend (and no pitching), but being good patrons, so they let us to continue to use the space for free, I say we get a cup of coffee.

Gizzi's Coffee: 2275 S Federal Hwy, Delray Beach, FL 33483 (1pm-4pm)

I know many of you wanted to meet later in the afternoon, however, the coffee shop closes at 4pm, so I figured people can come and go as they please from 1-4pm.

So, anyone want to grab some afternoon coffee in Delray Beach... maybe people from Jupiter, Palm Beach Gardens, Lake Worth, Boyton Beach, Boca Raton, or West Palm? Maybe even Broward County people would like to show...

This meeting is open to anyone that would like to attend.

Tags from previous meetings: @Cody Harris, @Lance Lvovsky, @David Wild, @Christopher Cadet, @Ylande Blanc, @Anthony Jaffa, @Gary Weiner, @Doron Nissim. @Warren Lanza, @Debbie G., @Mitchell Jaworski, @Gene D., @Alex Yungk, @Tim L., @Joe Garbarczyk, @Justin Jocewicz, @Wayne Brooks, @Emanuele Pani, @Nancy Wasserman, @Reginald Hill, @Meghan Helbick, @Martha Blumel, @Nick Howe, @Dwain Beckford, @Rocky Wilson, @Joshua Pavao, @David Shoultz, @Ivana Andreatini, @Account Closed

@Marcel B.  Bigger/National banks tend to be a bit more restrictive, however, it's not a bad place to start. Since you have history with them, you can certainly speak with someone there. They usually have someone within the bank at all times. After that meeting, you may want to try a local, smaller bank to see if you have a different experience. Good luck!

@Rolanda Eldridge  Thank you! This is the exact experience that I have been looking for. 

@Marcel B.  Have you spoken with a mortgage specialist? There are programs available with down payment assistance. A lot of what you are capable of doing can be determined by other factors: credit score, financial history, possible co-signer?, financial partner?, etc. I would start with your local bank and speak with the mortgage specialist.

@Teya Reyna I know this is not the answered you'd like, but questions regarding contracts and protection are best left to the professionals. I'd get with a real estate attorney just to be safe.

@Ana Barreda There are a lot of factors to consider. If you need to purchase FHA, then you will need to live in the property. If you can purchase a multifamily (2-4 units), you can live in one and rent the others out. However, if you would like to stay in your current apartment, and buy rentals, you can do that too. I know many people in rent controlled areas (Los Angeles/New York), that have an amazing deal on a rental that it would be financially foolish for them to lose their low rent apartments when they could use the money they are saving to purchase more rentals.