All Forum Posts by: Vincent Pace

It really depends if you think you can make more than 6.125% percent from real estate or other investing you should do that. For example, if you are given the opportunity to take a 5% interest rate loan on a car or pay it in cash you should probably take a loan because on average the S&P grows roughly 7% accounting for inflation; investing in real estate, however, has potential for a much higher rate of return. 

@Konrad Utterback, I agree with @Ryan Evans and  I think a multi-family unit may be better since you are just starting out and it may be be easier to service your debts. Best of luck to you!!

Congratulations, @Adam Adams!

It depends lender to lender, as most lenders have a minimum requirement. For example, we have a sliding scale that depends on the price of the property. If a home is worth less than $100,000, we will refinance up to 35%.

Wow congratulations on your great deals and welcome to Bigger Pockets!

I agree with @Melvin List, if a loan officer is moving your file to underwriting that early, you were most likely not speaking to the type of loan officer you needed.

It really depends on the specific property, state regulations, etc. Just make sure your contract protects you in either case. Best of luck!

I think you should sell and take your profit there! Your expenses from renting it out are most likely going to be greater than 300 dollars, so you would be taking a loss, which is obviously not ideal. Best of luck to you!

@Frank Glenn, it is never too early to get into the Real Estate investing game! Best of luck to you!

@Andrew L. Have you considered hard money lenders?