All Forum Posts by: Albert F.

thanks Alex Franks,

Yes the repair time its my concern because while I was down there for vacation I did a walk in into the property with a handyman that calculated a $25,000 and a work duration of 4 to 6 months. I was planning to be there to help to lower the cost and to manage the project.

thanks Ed Matson. 

thanks Pouyan Broukhim!

thanks Jason!

hi all I need a little advice on a what I think it's a good deal. I'm trying to buy a Reo in Puerto Rico. It's a multifamily and need about $25,000 in repairs. The first level has 4 bedroom/ 2 bathrooms and garage for 3 cars. Second level has 2 bedroom/ 1 bath plus plenty space for possible additional room. Bank was asking 130,000 but my offer was for 64,000 and it was accepted. Now my big question is .. Should I get a equity line of credit against my home to buy this property? $ 65,000 @ 2.47 for the first year and payment will be around $ 367.00 monthly and then after the first year the interest is 4.27 variable. The property after repairs has a potential value of $120,000 and monthly income of $900-1000. Is this a good move? Or should I consider other options for financing? Please help, thanks

hi all I need a little advice on a what I think it's a good deal. I'm trying to buy a Reo in Puerto Rico. It's a multifamily and need about $25,000 in repairs. The first level has 4 bedroom/ 2 bathrooms and garage for 3 cars. Second level has 2 bedroom/ 1 bath plus plenty space for possible additional room. Bank was asking 130,000 but my offer was for 64,000 and it was accepted. Now my big question is .. Should I get a equity line of credit against my home to buy this property? $ 65,000 @ 2.47 for the first year and payment will be around $ 367.00 monthly and then after the first year the interest is 4.27 variable. The property after repairs has a potential value of $120,000 and monthly income of $900-1000. Is this a good move? Or should I consider other options for financing? Please help, thanks 

Hi,

I got this family that have two homes for possible sale one is a 5 bedroom 3bathroom and 2600 sq in a good location in Fairfield Ca. They haven't make any payments for 6

months and have a second loan on it. On zillow estimates $500,000. They bought it for $674,000 on 2005. They want to move on, how can I help this family and make some profit from this opportunity?

The second home is 3 bedroom,1.5 bathroom and 1,090sqf .it needs a new kitchen and bathroom renovation and carpet. They have 3 years left on the mortgage payments bought it for $81000 1987, on zillow estimates for $240000 it is located in San Pablo Ca. Not in the best location nor the worse location. This property they just want to sale it. I don't have any idea on how to manage or do this deal opportunity.

How would you do it? What contract would you use? How can I control the negociation with the lender? Is there a possible tax implications from a short sale? 

Any advise? Thank you

I have been sitting on the fence for quite a while about getting hard money to start the first investing. I keep hearing it's good way to star. My problem I'm so scared since they charge higher interest and points, and I don't know how it would work in order get any profits at the end?have someone had done successfully any investment using hardmoney lenders and want to shear the experience.

I have been sitting on the fence for quite a while about getting hard money to start the first investing. I keep hearing it's good way to star. My problem I'm so scared since they charge higher interest and points, and I don't know how it would work in order get any profits at the end?have someone had done successfully any investment using hardmoney lenders and want to shear the experience.

Hello all, I'm wondering if someone here have ever used HomeUnion service to invest in real estate. It seems to be too good. Any comments? Thanks