All Forum Posts by: Sebastian Hernandez

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@Dondy Desir-Gutt Congrats on closing on your first property! How did you fund this purchase? cash, fha, conventional? this is an important factor in making a suggestion on how to finance the next property. 

Welcome to bigger pockets, best of luck!

I suggest you start by contacting the roofer who installed the roof originally. They should inspect and determine the cause of the leak. If the cause was a faulty installation, you should have a discussion with them so they can resolve the issue. Obviously if the cause was something else, then that will be a separate expense. Then you need to call a local contractor/handyman to replace the affected areas because the sheet-rock could get mold if you do not replace it. 

Hey Christian, another way that I use to find local meet-ups is by going to Eventbrite and searching for events near by. 

I see many conversations here in the forums ask questions related to funding rehab costs and such. I see a lot of recommendations about using credit cards, raising money from family, using 203k loans and private lending. However, many contracting companies like mine will offer financing. This is another option and way of funding deals that most people do not talk about.  

If you are referring to smaller cosmetic items or regular maintenance and repairs, most people use cash or some type of credit card like lowe's or homedepot's. For much larger projects and renovations, depending of where you are in the journey, people do cash, hard money loans, 203k loans and one that is not talked about often is financing through your contractor. A lot of remodeling companies offer financing. 

Hi Sean, most of the meet-ups I attend are via meetup.com, eventbrite and by seeing posts on social media of people that I know in the industry. Lastly, I know @Jonathan Greene holds some great meetups as well, check him out. 

Raj, welcome to the BP Community. 

This one is a tough questions for others to give you a straight answer. What I will comment is, take a look a your long term goals and figure out which investing strategy or strategies will help you reach your end goals. Once you figure our your strategy, I would definitely encourage you to make some more acquisitions because inflation is high right now and interest on savings accounts are very low. 

Chris, welcome to the BP community. Like David said, here in North Jersey it is customary for both sides to hire an attorney to handle the transaction, typically costs about $1,200-$1,500. Regarding the 203k loan, yes, make sure your lender and agent have expertise in this matter so they can guide you through the transaction. f you need any construction services, feel free to reach out, I am happy to help.