All Forum Posts by: Joseph Duenas

Hello. I'm looking into purchasing a 4 plex.  Was hoping to get some answers on a couple of questions:

1. I'd like to purchase the 4-plex with a Freddie Mac loan. What kind of interest rate will the bank give me, and what percentage down payment is required (i.e. 20% or 25%). 

2. I have a line of credit that I use for investing. May I use money from my line of credit as the down payment for the property? 

3. Any other pointers that you might have on getting the best financing for a 4-plex would be appreciated. 

Thank you! 

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@Percy N. Thank you!  

I'm hoping to get a good answer from the financially savvy folks here:

If a person bought a house for $50K that was valued at $100K, using cash from a line of credit, could the person then turn around and immediately refinance the house with a bank at 80% of the value?  Or would they have to wait a year? 

Thank you. 

I'm looking at owner-financing a 30 unit multi-family for about $1.6M, with monthly payments, and a ballon payment in 3 years. 

Question: 

Will the bank refinance me after  year one or two with no down payment?  For example:

If I were able to bring the property value up to $2.5M, and the bank refinances me at 75% of the $2.5M value,  would they let me cash out $1.875M (75% of the $2.5M) and pay off the owner ($1.6M balance)? 

Thank you in advance of your responses. I don't want to get stuck with a building that can potentially default. 

Hi John. I'm a real estate investor living on Guam too. If you have a HML on your recent acquisition, you should consider refinancing, and bringing this down to a lower interest rate. Another thing I would do, is to consider getting an equity line of credit on your free and clear property. This will allow you access to cash should another good investment come up. Question: Where did you get the hard money loan on Guam, and what is the interest rate they are charging? Thanks.

@Chris Lynch Century 21 Commonwealth Realty on Guam offers classes at their N.I.C.E. institute. You can take the class and then sign up for the license test which is held at the University of Guam. 

@Zach McGowan I'm a real estate investor on Guam and doing the same. Let me know if you're looking at anything out here. I keep track of investment property and my wife is a realtor. 

@Ivory Quintal  I'm an investor living one Guam and my wife is a Realtor. She has rented quite a bit of houses to the military and can help your mother in law get the place up to standard. Let me know if you need help. Thanks. 

@Zachary Babauta  I'm a real estate investor living on Guam. Welcome to this site. I have found it to be an excellent resource. My wife is also an agent. Let me know if you have any questions and good luck to you.