All Forum Posts by: Andres M.

Hi @Ahmed Elias . When you said "For conventional I am getting 3.375 interest rate with 10% down with no PMI on a 30 year fixed", this is still with you living in the 3 family property? Just curious since you mentioned that the seller didn't want to sell the property with one of the units vacant so not sure if you still plan to live there or not.  Thanks in advance.

So what do you guys think? Should we continue to buy real estate or hold off until we know more on how the real estate market is going to be impacted?

@Russell Holmes Thanks for the reply.  I just sent you a PM.

@Russell Holmes do you email properties to multiple investors at the same time or do you work one on one based on each individual investor's needs?

@Armani Diaz Just curious, how would you grade the Kissimmee area where you bought the triplex (A,B,C,D,F)? I have heard that multi-families are hard to come by. I own a SFH in Kissimmee.

Hi @Matt Jorgensen . Were you able to find a lender to get a HELOC on your investment property in Florida? I'm also interested in getting a HELOC on my investment property there and I'm starting to do my research.

@Vincent Q. Check with small local banks and credit unions.  There are some that should be able to help you finance a small loan like that.

Being able to retire early and having financial freedom at some point is my motivation.  I like my full time job.  I enjoy what I do.  But the thought of having to work until I'm 67 (or possibly more than that) gives me plenty of motivation to stay involved in real estate investing.

@Hai Loc , yes, definitely leveraging, hopefully something in a B area.

@Robert Khalev thanks.

Hi guys.  I'm interested in doing a cash out refi on an investment property I own in Florida to buy another investment property in the mid-west. The most I could get (based on what I think the Florida property could appraise for) is about $35k. Closing costs will be about $5k which will be taken out of the cash out so that would leave me about $30k to invest elsewhere.

I'm currently cash flowing $260 a month on that Florida property. If I do the refi, with the higher loan amount, my mortgage would go up about $80 a month so my cash flow would be reduced to about $180. But that cash out would serve as down payment for another investment property where I can cash flow at least $200 (hopefully more).

In my head the math tells me this move makes sense but I don't know if there may be other numbers that I'm not taking into consideration.

Would you consider this a good plan?

Thank you in advance for any input.

Hi Gabriel. Congrats on the flip. Just curious...what part of Staten Island is the property located in?