All Forum Posts by: Cesar M.

@Cody L. You mind explaining that?  Not sure what you mean.

@Pearce G. He's still paying off the mortgage on the property so I don't think that's an option.  I also thought about a "subject to" deal but there's no incentive for him on that.  Running out of ideas here except for getting a hard money loan which I'm not ready to settle on just yet.

Looking for some low cost options to purchasing a property. My dad is currently wanting to sell one of his rental properties and is giving me first dibs. It's a SFH that's already rented out to some very reliable tenants. No major issues with the house. Seems like a great first property to start my real estate venture. Issue is that I'll need to use ALL my savings to buy it with a conventional loan and that's if I only put down 15%. So is there any other options to consider that won't completely drain my bank account?

A little info on the property...  It's in a suburb of Houston, TX.  Purchase price would be 120k. It's currently renting out for 1420.

Any advice is much appreciated!

Can anyone recommend some good local real estate attorneys?  I'm looking into doing a "subject to" deal and would like some legal advice on this.

Thank you @Bernard Chouinard!  I just learned about buying subject to.  With that deal I would have the title transferred to my name but the loan would still be under the original owners right?  So how would it work when I try to refinance?  

I have a family member with a investment property they no longer want to deal with.  I'm looking to take it over for them.  My initial thought is to buy it subject to and because they have a high interest rate have it refinanced once it's in my name.  Is that a viable option?

I wasn't aware of overlays.  Gives me something extra to think about when shopping lenders.  Again, thanks for the info!

Thanks for that answer @Chris Mason!  I'm definitely trying to focus on the first but this question kept popping into my head every time I heard someone on a podcast mention getting multiple loans in quick succession. 

Hi everyone.  This might be a real newbie question but I haven't seen it discussed on any podcasts or anything I've read.  Does the debt you take on from your first deal affect if you'll be able to get approved for a loan on your next deal?  For example, let's say on my first deal I take out a traditional loan for 100k and a few months later I'm ready to take on my next property.  I apply for another traditional loan and they see that I have the 100k debt.  Are they more likely to deny me because of that even if I have everything else in order?  Or is it not a factor if I can show that I have cash flow on the first property?

@Buu Quach Thanks for the reply!  I'm definitely ready to learn and hope I can avoid the dreaded paralysis by analyzes that everyone talks about.  Please keep in touch.  We might find some opportunities we can both capitalize on in the near future.

@Andrew Postell  Thank you!  I'll be sure to reach out when the time comes.

@Jon Goehring  Thanks!  BP has already expanded by knowledge vastly from the few weeks I've been on.  Can't wait to see what more I can learn in the upcoming weeks.