All Forum Posts by: Cesar Perini

@Tom Shallcross

Thank you! That’s a great idea! I’ll be soo my due diligence with the lender before I even purchase a home cash.

@Clifford Paul

Thank you again for the advise this is definitely helpful!

@Clifford Paul

Thank you!! I see how I can use this to my advantage. I might only be able to buy my first deal with cash but it’ll help me get a better deal to start off with.

Will it be a good idea to refi after I buy it and use the money again to buy another property as long as the rent exceeds the new mortgage?

For my first investment out of state...

Originally I wanted to finance multiple homes but I feel I can get a better deal by offering an all cash offer. I can always refi up to 75% after I get the home and reuse the 75% on another home. Is this a good strategy to find a good deal?

Will sellers take less then there asking price if you have cash?

I’d appreciate your thoughts and help.

Thank you

Cesar

First post ever. Lol.

I came across some extra money so I’m going to make an investment out of state very soon.

My question is what kind of advantage do I have buying a house with an all cash offer vs bank financed?

Originally I wanted to finance multiple homes but I feel I can get a better deal by offering an all cash offer. I can always refi up to 75% after I get the home using cash and reuse the 75% on another home. Is this a good strategy to find a good deal?

I appreciate your thoughts and help.

Cesar

Investment Info:

Single-family residence other investment.

Purchase price: $360,000
Cash invested: $160,000

Long story but ill make it short. I didn't realize what I did when I was doing it but ultimately I did the BRRRR method on my property. Bought it in 2007, market crashed in 2008, but my rental income covered my mortgage, so I kept my house. After 3-4 years my prayers were answered and I received a principle reduction with a loan mod at 3% for 40 years. I kept renting my house until 2018. In 2018 I decided to be an Owner/Builder and built an ADU and extended my existing house to 3 bed 2 bath. Fast forward to the present day and my house is worth over $720,000 and I'm going to refi full out money and invest out of state. Im excited about what I've learned so far on bigger pockets and can't wait to apply it to me out of state investments in the future.

What made you interested in investing in this type of deal?

After having a 2nd baby I needed to make more space for the family and find a way to still have a rental property.

How did you finance this deal?

20% down

How did you add value to the deal?

Added an ADU and added a bed and bath to the existing

What was the outcome?

My property is now worth $720,000

Lessons learned? Challenges?

Being an owner builder has been one of my greatest experiences. Many mistakes were made or over-looked but in the end I wouldn't change my approach at all. I'm a much more confident investor now and I feel it will help me for my new investments