All Forum Posts by: Andy Perez

@Joe Splitrock

This is great advice. Thank you

@Steve Vaughan

The sale price is 700k and it appraised properly.

@Salvatore Lentini

Thank you

@Evan Polaski

Yes, at least they have agreed to give me 30 days but I don’t think I will be able to get financing as a result of my self employment income.

Hello, I just got news that my financing back is no longer funding my deal...

I am under contract to purchase a 2 family home in The Bronx (NY). After getting the loan approved and getting a clear to close, the bank has decided not to fund the deal. According to them, their investors have pulled their funding and therefor they can no longer find the deal despite already signing my closing disclosure and getting a final clear to close. I am not stuck scrambling to get alternative financing via a Conventional route rather then a no income verification/no doc loan. Homebridge, the bank who was funding the deal tells me that they are no longer doing these types of loans.

Now To make things worse, the seller is refusing to refund my 70k downpayment because according to my contract, once I got a clear to close and a commitment I would be responsible to close no matter what.

The purchase is a brick REO and these banks make buyers sign really tight contracts. I am hopping that I can get some feedback on how to proceed with this issue. This pandemic has put me in a position to potentially lose 70k if I can't get financing. No one knows what to do as these are uncharted waters. Help please!

2047 Bathgate Ave, Single Family in Est Tremont, $365,000 ash, needs about $45,000 in repairs and has potential as its an R-5 Zoning. 

This is an absolutely stunning home that features 2 bedrooms, 3 bathrooms with an enjoyable finished basement. This beautifully renovated 1 family home is located in a neighborhood with easy street parking, close to parks, buses, highways, trains, Metro North, shops, schools & plenty of restaurants. This gorgeous home is ready for you to move right in with a Brand New Roof, New natural bamboo floors with a 30-year warranty, new stainless steel appliances, crown molding & even a modern weather station. In addition to all new updates, electrical and plumbing systems are also updated with recessed lights in every room. Even equipped with a center ceiling mount for fans upgrades if desired.

Call me at 347-221-3415 for more info or if you know of someone who would like to purchase a new home.

We have officially surpassed the average selling price of homes in the United States since the peak of the market in 2008. As a result, many investors are beginning to liquidate their less desirable properties. So, those who are or were in it for appreciation should consider selling their assets now before the next crash, but more risk-tolerant investors should still keeping on buying. 

With that being said, if anyone knows or is selling multi-family homes; I am looking to Purchase 3 to 4 properties in the next couple of months. This will include properties with rental potential as they will primarily be to buy and hold so it's important for the properties cash flow. Please feel free to contact me at 347-221-3415 or email me at [email protected] if you need to unload some multi-family homes. 

Finally, I am also an agent so if you need to unload single family homes you can also reach out to me and I'll list the property at an investor friendly rate to have them sold to end users. 

Hello BP... I live in New York and I am looking at a deal for a single family home. I talked to the seller about holding the note and he is ok with it. Matter a fact he missed understand what I was explaining to him about subject to and he understood as he would need to continue to pay the mortgage for an additional 6 months until I behave the property and sell it. Upon the sale, then at that point, I would satisfy his note which he was ok with. I am looking for advice on how to structure this deal or possible talk to an attorney to help with the trascation. Thank you guys in advance. 

I found his deal on craigslist. It took a couple of months to find, but when I found it I jumped in right away. I am 4 months short of owning it for a year. Is there a way around this if I wanted to get the HELOC today versus after 1 year.