All Forum Posts by: Jorge Lancerio

Originally posted by @Matt K.:

It can be done, Penfed does it so do the smaller local lenders. Stay away from big banks like Chase/WF etc as they don't really do this. Lastly you can do a cashout refi if you wanted vs a HELOC if you wanted the cash....

If you can't find anyone local, I can get you info on a OOS one if you want...

Hi guys, Does anyone have experiencing tapping into equity on an investment property without refinancing or taking on a second mortgage? Something like a HELOC or collateralized personal loan is what I’m looking for. So far the lenders I’ve spoken to require that the home be my primary residence. Thank you in advance

Hi @Sebastian Wernicke! I'm sure I'll have a few questions down the road, so your offer is very much appreciated. If you think that your broker would be a good fit, I'd definitely be interested in having a conversation with him. I'm really just looking for the most mutually beneficial situation available. 

Y si, hablo español. Muchas gracias por todo su apoyo. 

@Mason Marin I'm look into buy and hold single family rentals for the time being. I'd like to get into multi-family properties in the future, but I'm not sure if that's realistic in the near-term given how congested the Las Vegas market is. I think BRRR might be the avenue that allows me the most success for now.

It took me about three months to prepare for the exam. I went through Kaplan self-directed study which consists of reading through a textbook for the most part. I think it could have taken much less time if I had the time to focus on it exclusively. 

Becoming an agent is a great resource for investing in my opinion. Access to the MLS, savings on commissions, being able to negotiate directly with other agents, etc. Obviously it's tough to replace the experience of a seasoned agent, but I think benefits outweigh the costs.

What about you? How'd you get interested in real estate?

Hello everyone! I have a small request for you all and I hope I'm not asking for too much. I have been interested in real estate investing for quite some time and decided that securing my real estate salesperson license would be a great way to learn and facilitate my journey forward. I completed the required education and passed the federal and Nevada state exams last Saturday. At this point, I'm just waiting for my fingerprinting and background check to be completed. In the meantime, I'd like to find an investor-friendly broker to team up with. A bit about me- I currently have a full-time job and am in the process of completing a graduate degree. I have no intention of pursuing a career as an agent, but would like the ability to use my license as a tool for investing as well as assisting friends and family with home purchases/sales. That being said, I am not looking for a one-sided relationship. I would very much like to be able to add value to any firm that I work with. If there's any broker here that feels I could be a positive addition to their team, please reach out. Additionally, if you know of someone that you think would be interested, I'd greatly appreciate it if you kept me in mind. Any and all advice is welcome! Thank you very much for your time.

Hi Mason Marin ! Welcome to BP. It sounds like you and I have a lot in common. I'm also 23 and attempting to find my way through real estate investing. I'd say getting your real estate license is a great idea. I just passed the exam last Saturday and I'm positive you could do the same. Feel free to reach out if you ever get a chance. Best of luck!

Michael Schwob Welcome Michael! Feel free to reach out to me if you ever want to bounce ideas.

Hey BP! I'll be discussing a lease renewal for a rental property soon and I'm looking for some reliable evidence of what the property could command on the open market. If I call a property management company or a realtor, how much can I expect to pay for this information? Thanks in advance!

Hello BP, What are some common closing cost items that can be avoided?

Ned Carey Hi Ned. It's an investor loan on a rental property. The property itself is in the name of an LLC.