All Forum Posts by: Andrew Garcia

@William Manning, thank you for your detailed response.

I like your approach to investing. It limits the highs but it also prevents you from going bankrupt.

I hope that there is no divorce in your future. House hacking is definitely not for everyone.

Analysis paralysis is definitely an issue. Having a great team behind you is a good cure for that.

They will hold you accountable and let you know if it is a good deal and not to pass it up or if you are being completely sane and it is not the right deal.

I look forward to seeing you engage in the community further and level up as an investor!

Hi @Andy Sabisch, those are material misreprentations. Your agent should help you deal with this.

I am not particularly familiar with Mississippi's laws but your agent should be.

Sorry I could not be of more help.

Hi @Hilary C., I am not aware of anyone that can do a loan using stocks as collateral. What you could do is borrow against your portfolio for the downpayment.

This way, you are not liquidating the stocks and you are not paying high interest on the loan. You are essentially borrowing from yourself.

You do not need a W2 to get a loan. If you are 1099 or self-employed, you can still qualify.

Otherwise, you can do a DSCR loan. It has no income or job verification.

Hope this helps! Let me know if I can be of any assistance.

Hi @Matt Aiello, obviously house hacking is a good strategy.

I am not super familiar with the area but even if you don't cashflow or have no mortgage, house hacking is still a good strategy.

A significantly reduced mortgage payment is still a win.

BRRRR is a great strategy but it is not super beginner-friendly. If you choose this strategy, make sure that you have a great team supporting you.

Buy-and-hold is a tried and true strategy that still works today.

STRs can be a good option.

It really depends on what your goals are and where you are financially.

Hope this helps! Let me know if I can be of any assistance.

Hi @Jacob Zimerman, not a realtor but there are so many great ones on this forum!

You can use the agent finder tool to find some realtors in the areas you are looking in.

Hope this helps! Let me know if I can be of any assistance.

Hi @Maranda Tucker, CLT is great! I am originally from Concord so I love the area.

Referring agents is the main referral in my line of work but knowing a great PM will definitely help!

Let's connect!

Hi @Kenneth Gore, in this scenario, you would be paying at asking so it is not actually coming back high.

If it did come back high, then you would simply have equity in the deal.

It does not seem like a dumb deal. Prices are still rising so if you wait a few months, this property might be at 650.

Hope this helps! Let me know if I can be of any assistance.

Hi @Rob Bianco, investor-friendly agents typically know where to find these deals.

To find that special realtor, look right here on BP!

If you need help looking for one, I am always happy to help!

Hope this helps! Let me know if I can be of any assistance.

Hi @William Hinsche, typically the private lender will fund the acquisition for a 6-month or 1-year term interest-only. 

Then, you do a refinance and pay off the lien.

Hope this helps! Let me know if I can be of any assistance.

Hi @Brian Plajer, if you were to lock today, you would need a 90-day lock most likely.

The lender might not have the ability to lock for 90 days so they might be holding out.

You are not paying a fee per se for locking now. You will have a higher rate, though.

I had a client that was under construction for a new build in March, closing in June.

She did not want to pay the higher rate and was so certain that rates were going down that she could do a 30-day lock.

The rates went up and I told her to lock again at a 60-day. She dug in again and by the time May rolls around, her rate was almost two points higher.

My suggestion is to lock your rate now. Even if rates stabilize and you are paying an extra 1/8 of a point, does it matter more than running the risk of paying 1/2 point higher in rate?

Hope this helps! Let me know if I can be of any assistance.