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Updated about 4 years ago on . Most recent reply

User Stats

9
Posts
1
Votes
Edgar Monroy
  • Houston, TX
1
Votes |
9
Posts

Looking to start my real estate journey. Connect lenders/agents

Edgar Monroy
  • Houston, TX
Posted

Hello BP. Im starting out my investing journey more or less. I have a primary residence that was deeded to me by my father 100% paid off. The plan is to rent this house out and move in to another in order to add that rent to my income. I have been very interested in the buy and hold method for a while now. I have been setting myself up for the past couple of years, by getting rid of debt and increasing my income. I feel like it is the right time for me and am looking to connect with lenders and real estate agents to do multiple deals with, throughout my investing career. I am self employed and have been for 5 years. My plans are

1. Aquire a property as a first time home buyer, and hopefully take advantage of programs. Whether that be a MF house hack or a SFH i can put some tlc and force equity. I need to connect with a lender and agent who understand house hacking or have worked with first time home buyers and investors.

2. Second, Later on in the year do a cash out refinance on the home deeded to me by my father. (Worth about 140k)

3. Leverage the money from the COR to acquire more rental properties.

I will be doing my taxes for 2020 this week. Any input on how i can set myself up better with lenders would be greatly appreciated! Also any tips and advice would be greatly appreciated. I’m always open to input.

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