All Forum Posts by: Lazaro Paredez

@Derrick Walston

The credit union I use will cash out refi in my name as a commercial loan. Another credit union I spoke to was willing to do the same.

Refinancing in the future is definitely an option if you don’t mind paying fees twice. I would guard against this to save you some money.

@Derrick Walston

If you get a commercial loan, there's usually no seasoning period. But more times than not, it will be an ARM.

@Alice Huang

I wouldn’t be surprised if this rehab project touched$75k. If you have the money, and not an ounce of fear, take it on!

@Jeremiah Fennell

When choosing a contractor, I only use referrals from friends who are investors as well. Dependability is a huge factor when choosing a contractor. You’ll hear and read too many stories of contractors not showing up as often as you’d like or should. And the only way of knowing this is by speaking to someone who’s used them in the past.

Price is another factor. The better the contractor the higher the price...usually. These are the guys that have more work and you may have to wait a while to get to your project. So you’ll need to find someone within your budget.

Quality or craftsmanship. It can be very upsetting if you have high expectations and the contractor underperforms.