All Forum Posts by: Anthony Rios

I am looking for recommendations of lenders that have been used for investment properties in Puerto Rico. I am from PR but as I live in Florida; I am interested in looking up realtors and lenders that work in PR.

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Originally posted by @Andrew Syrios:

I would look into syndications if you're planning on buying large multifamily.

Thanks Andrew. I have not actually looked into syndications because I do not know a lot about them so I will research them some more.

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Originally posted by @Stephanie P.:

@Anthony Rios

Welcome to BP and thank you for your service.

If I were to give you any advice, it would be to find units, use FHA to finance it because the down payment is small and then live in it for at least a year. Then I would purchase units again (again you have to live in it for at least a year) with my VA entitlement. The rents should much more than cover the mortgages on the properties with units and you've used the least expensive money to begin to build your empire. Refinance the FHA property into a conventional loan to get rid of the mortgage insurance if the rates are still favorable and you've got enough equity in year three and buy another one with 3.5% down using FHA (again, you must live in it for at least a year). Then refinance the VA property in year four and find another property with units and buy that one.

Lots of moving around, but it will be worth it.

Stephanie

Thank you very much Stephanie. Living in there for a year is what I am planning on doing. I am currently looking for creative financing because since I am still in college I do not have the work history that they are looking for in traditional financing.

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Tarik Turner thanks for the welcome

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Originally posted by @Camilo Rey:

Hi Anthony Rios, thank you for your service. In my opinion, you should share your history with friends and family. Probably they want to invest with you and the interest rate will be lower than other places.

Thank you. I am not one to ask friends and family for money but the right property could be a win-win for everyone involved. I just kind of figured investors, even friends and family, would want some experience before they would put their own money into it.

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@John Thedford Thanks for the advice. I hadn't thought about using Craigslist to find lenders. I will try that as well.

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@James Wise Thank you very much.

@Rene G. AWESOME!!!! I'll send you a PM.

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Hello everyone,

My name is Anthony Rios. I am a military veteran currently living in Orlando, FL. I am a student at Rollins College in Winter Park. I am completely new to real estate investing. I have taken the beginners course on BP and listen to podcasts daily.

I want to invest in multifamily units and would love to learn more about nontraditional financing that could be used to acquire those properties. I am currently working on saving much of my military benefits to invest when I graduate and get a job. I have found it somewhat difficult to find multifamily units in the central Florida area that are not in bad neighborhoods.

I would love to meet up with investors in the area.

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All Forum Posts by: Anthony Rios

Anthony Rios has started 2 posts and replied 8 times.

Post: Buying in Puerto Rico

Post: How to finance deals?

Post: How to finance deals?

Post: How to finance deals?

Post: How to finance deals?

Post: How to finance deals?

Post: How to finance deals?

Post: How to finance deals?