All Forum Posts by: Maria Marrero

Could you elaborate some details? Some of us are not that familiar with this😬

I would be doing my own management but I did not include the pymts to the heloc so assuming at $552 payment/mth and I believe that capex includes the repairs

Can someone tell me if this deal is a good one?

Here are the numbers: total purchase price $183k [including all closing fees and repairs].  Monthly rent $1800. Cap Exp $755 [including taxes and insurance].  Total net rent: $1045

Now I know that the numbers look good BUT remember home was purchased with a HELOC loan @3% for the first year, after could go up to 14% but I am planning on paying most of it off. There was also 2 other loans but those were at 0%.

Good deal? 

Agreed! I’m currently taking one out on my primary to buy a rental (in Fort Lauderdale) You can pay it fast n keep it open n continue to borrow to buy others. It’s the gift that keeps on giving if the interest don’t go crazy high. They can go as high as 18% although they haven’t since 1984

Hello! I know this post is a year old but I figure it’s small enough to just add to it. I’m looking to buy a small SF in Bridgeport. What areas would u say I should avoid? Also how’s the rental market there? I’m in port Jeff so I would just be a deer ride away which is super convenient but I think I would still hire a management company to handle the rental. Is the eviction process faster than NY? Says a month here, which seems fast to me but would love to talk to someone who actually knows more about the area n how things work

@Robert Sepulveda Yes if you could please send me some referrals, that would be great!

Thanks :) 

@Robert Sepulveda Thanks for your response!! So this house I bought is actually my primary residence. I wanted to do the delayed financing on it. So it cant be done because its my primary? The other investment property that I own doesnt qualify because its been too long since I purchased it [2008]. Basically what I want to do is get money out of any of these two properties to buy a third one however the investment property doesnt qualify for either loan so I am thinking of just taking a HELOC out of the primary.

I know this post is a few months old but just have a quick question: why would you use the delayed financing as opposed to just doing a HELOC? what makes one better than the other? I want to take money out of a property i just bought to purchase yet another property but want to find the best option.

Hi Ebony Ajiboye welcome! This site truly is great to get a lot of info and useful advice. I am a real estate agent in Long Island n I also try to find good deals to buy n hold

I am on the same boat