All Forum Posts by: Yamila Perin

 It is great that we all have a place where we can chat and help each other. 

I will be happy to discuss all the details over the phone, feel free to reach out to me anytime.

Have a wonderful day 

:)

 Hola Sergio,

Hard money lenders are going to base your points and interest base on the risk, mainly in your credit and experience. All hard money lenders have a minimum a maximum base on different criteria, it is always good to give it a try :)

Hello @Alan Faitel,

Well, let me tell you that the house prices are a bit more expensive than Michigan, however Fl is one of the states that are growing instead of outflow migration, job opportunities and people to work with is easy to find. You will have no problem getting deals and good investment opportunities to your door.

Welcome to FL! enjoy your stay :)

Hello Kevin, I can help you with recommendations on the area, feel free to DM me. 

@Derrick Reyes

Hey Derrick, all lenders will run a house valuation report to make sure that the loan metrics will be in good standing; However not necessarily has to be a full appraisal that takes probably 2 weeks to get the report back, SOME LENDERS have broker's opinion valuations, desktop appraisals (less than a week turn around), in house valuations, we have systems that can help us to underwrite a deal in less than 48hrs or instantly. 

You should be able to get a lender that can help you with this and if they don't approve your deal could be because the numbers are not strong and it is not going to be a great deal for you either. (Remember, that is what they do for living and want your business).

Feel free to contact me if you have any questions or you need help with anything. 

Have a nice day.

@Samantha Mosquera

The timing is very unfortunately with high interest rates, there are a few things that you can do but at the moment selling to make the money that you invested looks like your best option having in consideration that you are currently working in 2 other flips.

Refinancing this for rental most of the time means that you will have to come out with more money towards down payment and closing cost and you will need to be cautious because markert is slow and you don't know what can happen with your other 2 investments.

Best of lucks,

@Ken Badziak

Hi Ken, do you know the reason why? that would be helpful, if the lender is asking you for more money down could be because you might be overpaying for the property  or they just have that rule for everyone. 

But you are correct, most lenders require 20% down and I believed that is plenty. 

Best of luck !

Hi Galit,

Due to the market conditions it is better to have a profit close to 60k in case that you have to renegotiate and lower your purchase price depending on the demand and market conditions. 

Hello,

The house looks great! The second unit i don't see the conditions but your rehab budget is low, you will be able to turn this property around easily. 

If your goal is to keep investing in rental properties, would be a great idea to leverage your money and let the lender to cover a higher down payment and cover 100% your rehab. I can give you a quick introduction if you are interested.

Hello David,

Origination fees are common in all type of loans, could be private money or not, that is how lenders makes their money. The origination fee most of the time is base on your experience, credit score and the property LTARV. I always recommend to have a lender ready before getting a property under contract. If you want more information you can send me a DM.

Have a nice day.