All Forum Posts by: Jose Gonzalez

@Nathan G.

Thank you For the suggestion. I have an hour drive everyday so I’ll buy the audiobook version of it. Listening to the podcast now. Thanks.

Hello BP,

I have been lurking on BP for months reading posts and listening to podcasts, Studying real estate reading books. I worked on my credit (743) and obtained a second job. I also obtained a partner from work that wants to go into real estate with me. 

So this takes me to my point, now that I believe I have all my ducks in a row, I am getting cold feet. I don't know where to start looking, I don't know if I'll get a good deal. What if I jump to a bad deal and can't find good renters for the property I acquire, the market I live on is to Expensive, these are all the things running trough my head. 

So I took the next step and called an Agent in the Utica NY area (3 hours North from the city) to start looking at Multi Family homes up there. 

What are some good questions to ask an Agent to make sure you're working with the right one? On my visit what should I look for? 

I know some about Due diligence (check for liens, taxes ect). Basically what advice can you seasoned investors give me before I take the leap. 

Thank you in advanced. 

@Raul R.

Thank you for your response. I do know the other factors they look at and I’m comfortable with my position right now. Just want to know where I stand and also start building a team. I’m thinking of calling the mortgage company that gave me my loan for my primary home.

Hello bp,

I’ve been working on my credit for a while and now that I’ve reached a score of 740, I’d like to know where I stand as far as what loan I qualify for. Any recommendations for a good broker that can help a newbie investor in New York?

@Bob Woelfel

Thank you for your response. I will be speaking to a loan officer and see where I stand. The house was to good to be true, it has extensive foundation problems amongst other things. I backed out of trying to obtain this property as I don’t want such a big project for my first rental property.

@Diana Muresan

That is great advice, thank you. I will speak to a loan officer and see where I stand instead of going the hard money route.

@Kyle J.

Thank you for your response. I will speak to the mortgage company that gave me the mortgage for my primary house and see what they tell me.

@Ryan Murdock

Thank you for your response. Being that the deal looks good I will do my homework on it and possibly bring it to a third party.

A house was just posted 3 minutes away from my primary home. It’s a great opportunity but I’m not quite ready to pull the trigger on buying my first rental property. I wanted to save more money for a bigger down payment and also get my credit score into the 700s which is currently 660.

The house is a foreclosure and the bank wants 130k but the zestimate is 365k. The median house value around me is 350. The house needs minimum rehab. It’s a great opportunity and I’m contemplating of reaching out to a hard money lender to jump on this opportunity. Any suggestions are welcomed on to what to do. Should I wait until I’m ready and feel comfortable with the down payment amount and credit score or try and get this opportunity???

@Scott Sklare

Scott I would love to have a chat with you. Any advice is welcomed and appreciated.