All Forum Posts by: Jorge Medina

Good morning, 

I am looking for a seasoned MLO and Realtor in the Westchester, NY area. 

Looking to purchase a property. 

Grand Rising Everyone! 

I was wondering, if I win a property at auction with an existing mortgage, what happens with that mortgage? 

Am I held responsible? Do I have to negotiate with the bank? (considering I may have some leverage since they weren't going to get paid anyway) 

What options do I have? 

Any and all answers would be highly appreciated. Thanks! 

Good Afternoon Everyone, 

I am looking for a mortgage bank that does delayed financing on the market value of the property, not on the price I paid for it. Also considering buying a property under my LLC and selling it to myself, but need the cash to buy more property.

All and any advice would not only help, but is highly appreciated. 

Thanks! 

Thanks for answering Andrew. 

I am looking to do the BRRR method, just with cash first - then modernize - then (hopefully) refinance and find a renter. ( or renter before the refinance)

I have been speaking to a few banks and they tell me I would only qualify for a "cash out loan" within 6 months of purchase since I am purchasing cash, and that would only get me about 70% to 80% of the purchase price, not the value of the property. I am looking to purchase cash under my business, and refinance or sell from my business LLC to my personal self (as a purchase) for the value of the property after modernizing it. Not for what I paid for it.

Good morning, I hope everyone is well. 

I was wondering if it is possible and if so, what the pros and cons were of purchasing an investment property cash (at a discounted rate), modernizing it, and selling it to my business for a mortgage based on value of property? As opposed to a "delayed financing" or "cash out loan" and having to wait six months for a conventional mortgage. 

Thanks in advance! 

Good Evening All! 

I was wondering if there is (somewhere out there) or if someone has compiled a list of HOA contact info for properties in Broward County, FL. (condo associations especially)

Say it be emails, phone numbers, addresses.. anything really.. 

Thanks in advance!

Hope all is well with every one! 

New to the foreclosure bidding scene and wanted any pointers or advice in making sure I cross all my T's and dot all my I's before even placing a bid on a property.. 

Do you have a checklist to abide by? Besides a lien search, are there any other absolute requirements? Considering bidding/buying, rehab, sell as well as bidding/buying, rehab, refinance and rent.. Initially buying in cash. 

Any and all advice would be greatly appreciated, thanks in advance! 

Hope all is well with everyone! 

I was wondering what other fees were associated with purchasing a property at foreclosure auction in the Broward County area of Florida. 

Given the title/lien search comes back clean, of course. 

Say you purchase a property at auction for $30,000. How much are you expected to pay apart from the $30,000? 

Thanks in advance!

@Wayne Brooks Wow, thank you so much for the clarity on my confusion. Much obliged. 

For example: 

Final Judgement Amount is irrelevant.. understood. What I don't understand is how the Plaintiff Max Bid is $143,000.00 and the property sold for $19,900.00. Did the winning bidder purchase the property for only $19,900.00 + associated fees for bidding and such?