All Forum Posts by: Tim Jones

@Luis A. Escudero Burgos My friend and I had the same insight and are considering it. We are most interested in the Aguadilla area as it had close proximity to the beach and good surf spots. I have a couple of boriqua friends that just got back so I will be tying in with them shortly. The prices were suppressed prior to the hurricane as you probably know. I don't know what kind of economic recovery and rebuilding we'll see under the Trump administration. Long term buy n hold might be a better strategy...it all depends on the boots on the ground. Google purchasing in PR. I ran across a great blog that outlined the process quite well. Not exactly how we do it here in the US. Buena suerte amigo! TJ

Purchase "Buy n hold" properties in a buyer's market when they're cheaper and sell (or flip) your properties in a seller's market when you can get top dollar. The key to a downturn is being properly prepared for the acquisition phase. Yes, this is a bit simplified...it's meant to complement all the good advice above. Best of luck to you

"The problem is not the problem, your attitude about the problem is the problem " - Capt. Jack Sparrow

@AJ Angel Some lenders charge when you assume (TOP) a loan. Your sellers are saying that you can assume loan payments with no fees.

the existing loan is an ARM, Adjustable Rate Mortgage. They are telling you that the rate changes from 5% to 8% in Sept. If you're considering this ask to see amortization schedule & paperwork to verify if there are more rate changes.

it means you can purchase with cash, get your own loan, or take over payments on the existing loan.

For offer #2: Be sure to ask the listing agent if they have any inspections on file when the house comes back on the market. Find out why the house fell out of escrow. I've received a few free pest / home inspections this way. It allows you great info in order to make an appropriate offer. Best of luck to you!

@Angela Xu

Thank you for posting! 

Nathan,

Welcome aboard! You've come to a great site. I come to McAllen often so maybe we can talk shop next time I'm in town. 

Learn your local market & run the calculators often. This will give you some passive experience. 

Set up keyword alerts in your profile....that's how me & kasey came across your post. 

Are you primarily looking to flip, house hack, or manage a rental investment?

Tim

Everything @Chris Jensen said and also......that's where all the GIRLS are!!!!!! Don't forget to have loads of fun on this journey called life!