All Forum Posts by: Alberto Vargas

Any refi companies, investor friendly in Dallas? Have a HM loan, finished the house remodel, need to exit the HM loan. Outstanding note $187500, ARV estimate $270 - $280, credit score 720.

Have a property in TX (Dallas county), going through rehab, likely to be ready in 3 weeks. Hard Money total note is $187k, arv: $275k -$285k. Trying to keep it as long term rental, I'm getting 5/1 arm starting at 7.4, also 75% interest only 6.8%.. what would be the best deal to get out of the HM?

Happy New Year!

For those with cabins, what was the avg occupancy rate in 2022? I suppose not as strong as 2020 or maybe 2021, but wondered how much lower?

TIA!

If I take a heloc, and invest it as down payment for one or two properties. Is the heloc supposed to be paid back during the whole duration (20 yrs)? Or do people refi before the 20th year? Or something else?

Is 20% the norm for down payment for DCSR loans? Are there any DCSR leaders that would take less than 20%? Texas.

I have about $130K in equity in a rental, I'd like to buy a fixer upper, but will likely need some $45-$55K more. What options exist out there to finance it?

Just spoke with PenFed about applying for a heloc (to use to fund an investment property) they said helocs in Texas can only be taken out of properties with a homestead exemption. I've a homestead exemption on my primary, but was hoping to get a heloc on a rental I have.

Are there any other options/workarounds?

When doing a cash out refi to use the funds to buy another property, technically you end up with a larger mortgage loan, hence larger payments... is the concept that the rent income from the new property should cover the incremental mortgage amount (and ideally some positive cash flow)?

@David M. Yup, makes sense, thanks!

@Zev Jankovic great thanks for clarifying!