All Forum Posts by: Angel Dejesus

long story short looking into doing a heloc. Bank of America offered 3.5% prime but when they checked the comps I was approved more than I was looking for and they broke down the interest to go down to 0% if I grabbed the whole amount I was offered which in turn it is substantial for the dp on 2 properties that meet the 50% rule. Let me try to break this down. HELOC for $150k. $529 monthly payments maybe at 0% factoring the fed crisis 3.5%.

Now the properties I'm looking into

                     13 units at $35k each 

                    Well 7unit and a 6unit

1. Income=  $4,661.   Expense= $2,071.01

Monthly NOI= $2,590

2. Income= $4,100.     Expense= $2,125

Monthly NOI= $1,975

WHAT DO YOU GUYS THINK

great post. Will post the deal i will be making and the terms of the bank. Great post made my bedtime a little less stressful 

thanks guys

well I subscribed to bigger pockets in 2012 can't believe it's been that long ago..but been to busy well it's 2015 and I forgot to post that in March I purchased a 4unit building and from reading my profile it's seems that I'm on my way  now I'm looking at a 6unit building it seems that my appetite is getting larger  but good deals are scarce so it's time to amp up the sales techniques and start to diversify my thinking.

  But since I'm writing this and listening to DJ HERCIO eternal trance a little plug  my blood is boiling thinking thanks to bigger pockets for helping me find a general contractor. So on that note on to the next one..

Congrats.

Help I don't get it. It is said that Donald trump invest mostly in option for real estate. That's how he became famous. Can some one break it down for me and explain it to me like I'm a 10 year old kid.

an agent gave me a good idea. He said to write a business plan revolving around the down payment paying back the down payment in 10 years at 10%. Does anyone know how should I structior this plan. Need help????????

It seems that I have 2 opportunities here. One is with a short sale condo 2 bed 1 bath at $100,000 rents for $1,200 which I'm waiting on the sellers attorney or maybe my agent. The 2nd one is a triple net grocery store selling for $150,000 with rental income of $1,500 a month with the rental tenant paying half the taxes. Which one sounds good??????? 2 things I'm looking for if one doesn't fall through is a hard money loan for one or the other. Or a partner for one or the other...any input would be appreciated

I'm currently working on a short sale every time I speak to my real estate agent about where were at he says I gotta get on it. It's been 2 month already he just now told me I'm trying to talk to the sellersAttorney. 

 Also it's a $100,000 2 bd 1b condo and looking for financing. What is a good private financing what's a good interest rate and time frame to pay the loan back. Or should I just ask for financing on the down payment and closing cost???

thanks john I'm not experienced at all. My real estate agent is waiting for an approval from some one offer has been accepted so whole selling is out at the moment so I think I'm going to try to flip worse case seneriiioo