All Forum Posts by: Carlos Julio

Hey everyone I just wanted to keep everyone posted on my progress here and share learnings that I had during this process

Yes, it's possible. I was able to do cash out and refinance under a LLC by:

- finding small communities banks , call many times and got rejected due to the small loan amount until I found one so "keep calling "

-this bank typically has their own portfolio and are more independent to do this type of loan

-I was able to do the loan under the llc but I put myself as guarantor

-found a 3ARM 30 yr loan, not so favorable but will refinance in 3 yrs

Hope this can help other people

Thanks everyone

@Peter Davis this is interesting view since many long term investors (including me) are under the assumption that rents won't go down... my assumption was associated that rents will be flat at worst case scenario since renters population will still be growing anf will occupy all these new rentals until house inventory catch up with demand .

Hey BP forum, I need your advise here. I bought a rental sales price Jan 2022 $80K cash under a corporation with a partner with the idea of cash out and refinance and use the money for downpayment for the next one.

The property is located in Fort Myers, Florida (close to where I live) and I have been receiving push backs from local and community banks saying that the loan amount is below their threshold. What should i do?

OPtion 1: Do i keep looking to lenders that are willing to get this loan amount (have you seen cash out refi under this amount $50k )?

OPtion 2: One of the lender is bringing the option to transfer the title under my name and do the cash out and refinance One concern that i have with this options it is that my idea was to use the corporation to do partnerships with my friend, and use it as platform to create commercial history to keep building that for future, and on the other side use my personal loans to build my personal portfolio with my wife (not sure if my thinking is correct here).

Any other cost effective option?

@Melissa Abele not sure since I am focusing in buy and hold only...

Hey Tony, I am local investor in cape coral.  I would like to be part of this . Send me details and also how can I help 

Are you ready for 2022?

For a process oriented guy like me, there is No better way to start the year by reviewing your vision and goals

I'm still a newbie but I'll share mine. I strongly believe that by sharing point of view and thoughts we'll be better investors

My Vision is to create a $4MM by 2032 of Real Estate portfolio and Services that operates independently and will contribute to the financial Independence of People and create baseline of next generations

2022-2025 Strategy: Be able to reach 1MM portfolio

Goals;

-Close 2 deals via partnership

-Close 1 deal 100% my investment

-Develop Investor Network to find potential partners to leverage new deals

- Develop Key Supplier Network to proactively be ready in case needed

- develop a weekly process to capture leads, analyze, submit proposals and succeed

- review/update my Cristal clear criteria

-real estate rookie bootcamp

If you relate with this , write yours....

Let's do it

Great story @suresh kannan. I am in that process too ...  I am a w2 trying to get momentum and looking for an accountability group to accelerate our journey .

@Patrick Bavaro I am in cape coral , let's connect..