All Forum Posts by: Juan S.

@Ashanta Kelly to answer your questions first I would find out how much of a loan you can get approved for. Call around to a couple different banks to get this information. You want to get approvals for the FHA 203k loan as well just in case the deal might need some rehab. The cost of the rehab will built into your mortgage.

Properties that need rehab or properties in great condition. Well that all depends on your confront zone. Will you be comfortable with managing contractors. Will you be comfortable living in the type areas that typically have distressed small multifamilies even if it is for a year. And who is your targeted audience for tenants. What quality of people you want to rent your units.

How do you move to the next property. You can do a Home Equity Line of Credit (H.E.L.O.C) assuming you have enough equity in the deal. Or a cash out refinance both have its pros and cons just search for some blog post about the difference to educate yourself.

If there is no equity save as much cash flow from the deal as you can if not all and cash flow recycle. How ever you plan to save for the first down payment continue to save that way for the second and add your added cash flow to that.

Hope this help let me know if you have other questions.

@Willie Marte ideally that makes sense. Take it as a lesson learned in this world of REI. Thanks for sharing.

@Willie Marte to many personal ties to the property to let the previous owner rent after closing especially without a lease. Try talking to him to see if you guys can come to a resolution. If not maybe hire a property manager to handle that property.

When they say you can still by investment real estate with no money down, here is what they was talking about. (Well minus closing cost)

View report

*This link comes directly from our calculators, based on information input by the member who posted.

When they say you can still by investment real estate with no money down, here is what they was talking about. (Well minus closing cost)

View report

*This link comes directly from our calculators, based on information input by the member who posted.

A JV would be idea. Although I am not opposed to a LLP as well.

Jacksonville, Fl

We are looking to partner on a deal with these numbers 

Purchase Price: $125,000.00 

Purchase Closing Costs: $7,300.00 

Estimated Repair Costs: $35,000.00 

Total Cost of Project: $167,300.00 

Projected After Repair Value: $260,000.00 

High B to A Class neighborhood 5 minutes away from beaches and intercostal waterways and 20 minutes away downtowns. Near by comps are high 260s to 280s 

Originally posted by @Lisa Schueneman:

Juan, 

I am happy to help you with your home search or answer any questions that you might have.  

Let me know how I can help.  

Lisa Schueneman

Awesome can you pm me some details of what you specialize in 

Originally posted by @Hadar Orkibi:

Hey @Juan S. talk to @Joey Hamaoui he may have few SFR deals for you to consider.

Thank you will check him out

We are looking for multiple homes in those zip codes. Depending on the how the home fits our criteria for either exit strategy. 

We are looking to buy and hold short term as of now in those zip codes