All Forum Posts by: Robert Juanes

Ok got it, thank you so much for the information you gave me really appreciate it. I'm new here at bigger pockets don't even have a rental property yet I'm trying to learn as much as I can before I jump in. Just have to say I love BP...thank you again Kyle...

Yes makes sense, so it's just like a credit card but the amount you qualify for is based on your house equity? Do you think it's a good way to start investing? So let's say I qualify for 60k but the property I'm looking at is a four plex worth 185k, I can use the line of credit for the down payment and then have to qualify for the rest thru another loan right? 

Want to start buying property and I have some equity in my current home. I want to know exactly how a home equity line of credit work. Does the credit get tacked on to the existing loan? I just owe more on my house? or is it a separate payment,do my payments go up on my existing mortgage ? If anyone knows how it all works please advise me in the subject. Any information is greatly appreciated. 

Thank you Neil, I really appreciate your input I am going to talk to a agent asap and get this ball rolling. I am nervous but have to jump in the water to learn how to swim...

Ok got some numbers,                        gross income= 2,125.                        Operating expenses =1,698.              Net operating income =427.                                                                        Property mortgage includes taxes and insurance =760.                           Tenant's pay for bills,electric, water,sewer,gas...                                                                                        operating expenses :                           mortgage,taxes,insurance =760.      Lawn care=25 a month.                    Vacancies =150.                                Maintenance =212.                            Misc expenses =106.                        Capital expenses =212.                      Property manager =233.                     Total=1,698.                                                                                                 It looks good to me from these numbers shown, let me know if I forgot anything else I'm missing...thank you so much in advanced to anyone that has any input for me ...

Wow, thanks for that really opened my eyes as to how crucial all the numbers need to be in analyzing the properties. I  am going to gather all that up and will post it then. Thank you so much for your help and advice. .. 

I have been analysing some properties for practice and came across this one that I think it's a good deal just not 100% sure since I don't have any properties or experience just starting. I would like some feedback on it just to move in on it. It's a single family home but has two apartments in the back so it's three units rents are total of 2,125, selling for 185,000,taxes are 1500 year, payment would be like 900...I also estimated for all expenses and vacancies at 10% each...looking forward for someone to help me out thanks ...