All Forum Posts by: Adrian Gonzalez

@Michael Ealy Thanks! I will add this to my notes.

Good evening BP,

I'm taking notes on the basics of REI so that I can build a personal strategy book and this may help the newbies like myself. Here are my questions:

• What is needed to apply and to be approved for a HELOC?
• Can you use a HELOC on a seller finance deal?
• What does a hard money lender require?
• What are common terms and is a down payment needed for HML financing?
• What combinations of creative financing do you use and why?

Thanks!

@Kerry Baird Thanks Kerry for reaching out, you have an impressive track record. Did you own and occupy the majority of them?

@Tony Castronovo Thanks Tony for the feedback. I can only imagine what your day is like, let’s see how I do with that kind of schedule. I’m definitely a workaholic.

@Brian Alfaro Hi Brian, thanks for reaching out. We are practically neighbors. I’m curious to know what you have been working on, I take it that Houston market it pretty competitive.

Thanks Kenneth for reaching out. Often times after a days of hustling 4 jobs, I start to reconsider if its worth the effort at all to just get by. Why not work 4 jobs that aligns with one thing, right? 

I'm located in Katy, right outside of HTX. I'm more than happy to connect. Thanks!

Hey BP, I’m in the process in planing on purchasing first investment property. Here’s my strategy,

• Current status:

Early of this year I paid off my mortgage for a townhome within the city at appraised value of $75k and it's currently occupied by a family member. It has minor upkeep expenses about $500 monthly taken care by the occupant. I currently rent an apartment outside the city. I have a great credit and depending on what route of investment I take, my DTI ratio is good, not super great but good for anything up to $200k.

• Top view goal: 

Purchasing a duplex close to $200k or SFH close or less than $150k.

• Financing strategy: 

Option A - For the next SFH property using HELOC for rehab and private lending to buy from two relatives/friends. Season it, refi, payback.

Option B - For a duplex property use HELOC for a down payment. Finance with 203k, rehab, self occupy and rent out. Season it, refi and payback.

Thoughts any one? I can go into more detail but wanted to see if this will work.

@Dassi Lazar True true, it would be a great way to also build your brand among your community. Who knows maybe these booklets become popular among your community they may be exchanging them like currency. I’m kidding, in seriousness it benefits your partners as well with new and/or repeat business. Just a suggestion, but your on the right path.

@Dassi Lazar That’s a great idea and a great way to show appreciation. I was thinking about this once I get to that point, perhaps team up with local small business and create some type of discount or coupon booklet.

Hello BP, after weeks of watching and listening to podcasts, I'm taking my first step into REI world. I'm part of the large group of people who like to observe and analyze everything before making a decision, that can be either blessing or a curse. My goal is to use it to my advantage and move forward in building a great team among all who want or are taking ownership of their futures.

I currently work 4 jobs; in advertising for a large retailer here in Texas, I run my own sole prop cleaning company for commercial and apartments, a small time side gig as a janitor ( I can relate to Brandon with the whole toilet situation), and on my spare time I do personal training. Honestly, I'm a bit burned out. I will be posting my progress as go through this journey. In the mean time, I'm open in meeting or meeting up anyone who has just started this journey or anyone that can align to a common goal.