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All Forum Posts by: Edwin Giraldo

Edwin Giraldo has started 8 posts and replied 14 times.

Post: Philadelphia Brewerytown Real Estate

Edwin GiraldoPosted
  • Investor
  • Miami, FL
  • Posts 15
  • Votes 3

I will be doing my 2nd deal in this area (Brewerytown) and I currently have a property under contract and I am not sure how to move forward with it. 

1312 sq ft ARV330K

Please provide advise or send me a message to discuss more. 

Thank you!

Post: Real estate Miami starting out

Edwin GiraldoPosted
  • Investor
  • Miami, FL
  • Posts 15
  • Votes 3

@Marquay Edmondson

I’m looking for cash deals. What type of partnership are you referring to?

Post: Real estate Miami starting out

Edwin GiraldoPosted
  • Investor
  • Miami, FL
  • Posts 15
  • Votes 3

I am liking to start purchasing properties cash in the Miami area. I am looking to expand my portfolio and would like to know if there is anyone that can assist

Post: Investment property 10%?

Edwin GiraldoPosted
  • Investor
  • Miami, FL
  • Posts 15
  • Votes 3

I currently have $200k in my bank account and I am looking to obtain a mortgage for an investment property ideally one that would allow me to put down as least as possible.

I currently have a lender from Guaranteed rate that can get me 25% down but I am looking to see what my other options are.

I own an FHA duplex and purchased a triplex cash which I will be fixing this year. All of these are in the Philadelphia area.

I would really like to put my 200k to work on another deal with the right lender, any suggestions are greatly appreciated.

Post: Comission for a real estate flip business

Edwin GiraldoPosted
  • Investor
  • Miami, FL
  • Posts 15
  • Votes 3

I have a couple of good flip deals and a handful of interested investors that want to participate.

I will be managing the purchasing portion, fixing the property, and selling it or refinancing it. I will manage the entire deal.

What should my commission be for doing this work and how should I structure the business? Obv LLC but how would I make the entire flow work if they also want to create an LLC to participate?

Post: Just closed my 1st FHA primary now have 100k cash

Edwin GiraldoPosted
  • Investor
  • Miami, FL
  • Posts 15
  • Votes 3

Closed on my FHA duplex putting as little money down as possible. Property is cash flowing.

Now I have 100k cash for my next deal and I am

Aiming for BRRRR looking for off market deals mixed with hard money.

I am in the Philadelphia area but I also have reach in Miami.

Any suggestions would be great

Post: Finally have my first preapproval in Philadelphia

Edwin GiraldoPosted
  • Investor
  • Miami, FL
  • Posts 15
  • Votes 3

@Victoria Pham I am looking into purchasing one right now

Post: Finally have my first preapproval in Philadelphia

Edwin GiraldoPosted
  • Investor
  • Miami, FL
  • Posts 15
  • Votes 3

I have finally obtained my first pre approval 500k to purchase my first home. I am looking into the option of getting a multi family or a 203K loan (grab a large home and turn into multi fam) either via FHA. I've figured since it is my first I will be looking to put down as little cash as possible.

I will be buying in the Philadelphia area, I have been honing down in gentrified area such as Brewerytown and Kensington.

Any advice or connections that may help me in the process are greatly appreciated.

Originally posted by @Jay Helms:

@Yuriy Skripnichenko is right @Edwin Giraldo. Long terms on commercial properties (5+ units) that are stabilized (typically > 85% occupied ) tend to be based on the property itself, not your personal guarantee. It’s called a non-recourse loan. Check em out!

 I like the sound of this I will do my research and establish a relationship with a local bank. Thank you 

Originally posted by @Christopher Phillips:

@Edwin Giraldo

Your plan makes sense.

I'm assuming you're looking to buy and hold and not for a single family primary residence...

You should also consider that buying with cash will then give you options later to refinance to pull 60-75% out once the property is stabilized and generating income.

Thanks for your reply. You are correct, my objective is to buy and hold. Although, I have turned the property I am currently living in (I own) into a duplex which would allow me to rent and move out into another to have as primary residence. will this make things easier? not sure how that would affect