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All Forum Posts by: Chris Lucero

Chris Lucero has started 4 posts and replied 28 times.

Post: New guy from New Mexico Next step?

Chris LuceroPosted
  • Rental Property Investor
  • New Mexico
  • Posts 29
  • Votes 12
Originally posted by @Matt Gar:

Hey Chris, 

Nusenda is pretty good about giving home equity lines of credit. So, if you want to leverage your existing home equity, then you might want to start with them. Depending on your rentals and their value, a cash out refi is something to consider.

Also, thanks @David Torres for the notice about the ABQREIA.  I didn't know there was a group here in town.

Matt

 Thanks for chiming in Matt,  I am in Roswell between the 3 I would imagine they are worth a little under $100k, thanks for throwing the refi out there, I will keep that in keep in mind Nusenda.  Reading, listening while trying to put a plan together.  THANKS!

Post: New guy from New Mexico Next step?

Chris LuceroPosted
  • Rental Property Investor
  • New Mexico
  • Posts 29
  • Votes 12
Originally posted by @David Torres:

The numbers on that flip sound tight, but it might make a good rental.

How long have you owned the rental and personal home?

 What is your niche David?

Post: New guy from New Mexico Next step?

Chris LuceroPosted
  • Rental Property Investor
  • New Mexico
  • Posts 29
  • Votes 12

I got my first rent house 19 years, about 17 years ago got my second, my Grandfather blessed me about 15 years ago and helped me with a super deal on house I lived in till about 6 years ago when I moved into the house I am buying now.  about a year ago I made my last payment on the loan I for my rentals.  

So I have been renting house(s) for 19 years, I helped my grandfather with his and my aunt with her 2 over the course of this time so I have a bit of experience as I do everything (not as much lately, i have been hiring  help) myself.  I have a mortgage on the house I have been living in now for about the past 6 years.

Post: Would you rent to this tenant?

Chris LuceroPosted
  • Rental Property Investor
  • New Mexico
  • Posts 29
  • Votes 12

Listen to your spidey senses.

Post: New guy from New Mexico Next step?

Chris LuceroPosted
  • Rental Property Investor
  • New Mexico
  • Posts 29
  • Votes 12

Signed up on meetup last night, thanks.  So...My rentals are small but I think I want to try and refinance against them or against the bout $20K equity I have on my personal home (other than my home I have no debt).  I am pretty sure once I get some paper work together I know a person I could have loan me $10K.  pick up small flip or move on a 3b 1.5bath a co-worker was just telling me he is trying to get out from under to flip it.  He was telling me roughly 10 years ago appraised for $114K purchased for $96k owes about $80k.  He said we can talk when he gets into town.  He is going to allow me access to check it out.

Post: >>>> PROFILE PICS PLEASE! <<<<

Chris LuceroPosted
  • Rental Property Investor
  • New Mexico
  • Posts 29
  • Votes 12
Originally posted by @Robert Proctor:

Tried from my phone, but then decided to use the PC and Got R Done! Thanks Guys!

 Nice, even in the small things it is about solutions.  

Post: >>>> PROFILE PICS PLEASE! <<<<

Chris LuceroPosted
  • Rental Property Investor
  • New Mexico
  • Posts 29
  • Votes 12

Hello!

Seemed to work for me, good luck ladies and gents.  Here to learn and help if possible.  Been doing rentals for about 18 years, looking to try a flip or two any questions comments or tips.  I am here and will be checking in frequently.

Post: New guy from New Mexico Next step?

Chris LuceroPosted
  • Rental Property Investor
  • New Mexico
  • Posts 29
  • Votes 12

Hello, cutting to the chase.  I work IT 40 hrs a week, I want to grow the number of rentals I have (3) and also start flipping property. I live in a small "city" and just paid of my last rental, I have some equity in the house I live in and was looking for some ideas and help on what my potential next step could/should be.  Again I want to build on the rentals but I think I want to look into a flip or two to see what potential that might have.  I have been maintaining the rentals myself for the most part.  I know there are a few different ways to leverage my rentals/assets/ equity for loans, just looking for a little guidance and maybe a partner of some sort.   I have been trolling sites like this for some time now and have done a little of my own research, I kinda have an idea of what I want to do, again just looking for a little real life "guidance". (pretty sure I did not violate any rules) 

Thank you.