All Forum Posts by: Alex Cordero

@Louis Davis, that sounds like a great idea. Would we be able to meet or speak sometime to see if this is something we could set up in the near future?

@John Anderson, absolutely, removing my name from the loan was just means of hoping I can free up some income to purchase a second home. Would never default, and put their credit in jeopardy. Will most likely just stay in the property, hope values go up, and sell when I can break even. Didn't walk away when the 174k property appraised at 60k, def. not walking away now either. On the bright side, comps are around 160k, and I owe ~155k on the loan.

I purchased a property in Las Vegas, right before the crash. I just recently have broken even, but if i were to sell I believe w/ all the fees, I would still technically be at a loss. Both of my parents co-signed on this home. I was hoping I could refinance, and keep my parents on the loan (but they do not make enough to make that happen). They rent in NYC. What are my options? Below are a few I have thought of, not sure if they will work. 

* Can I rent out my home, for a period, long enough to where that would offset a percentage of $$ towards my current mortgage? Freeing up some of my income to qualify for a secondary home?

* I do have 20k I'm willing to put as a down payment on a second property, first home is an FHA loan.

* I've been told I would need to qualify for both payments, regardless if I do or don't rent out my primary home. My take home is about $4800/month, current mortgage is $1060/month.

Any advice would be greatly appreciated. 

Hey awesome! Thank for the tips and suggestions, greatly appreciated. 

Hello all, I found BP through reading "Rental Property Investing" by Brandon Turner. I Have listened to several BP podcasts and appreciate the wealth of information both the site and podcasts provide. I'm most interested in meeting and networking with people who have successfully flipped properties in Las Vegas, Nevada. Although, my ultimate goal is to develop enough passive income through rentals, to replace my current full-time job and allow me to solely focus on real estate. If any of you are located in Las Vegas, and attend any seminars, meetups etc., please feel free to reach out! Take care all. 

My only current investment (20k @ 10% return within ~90-120 days) is with a local flipper, who focuses on purchasing distressed properties in Oakland, Ca. Hoping we can do this 4x this year, at which point I will take my total investment and branch out on my own.