All Forum Posts by: Edwin Vela

@Noah McPherson for the most part most lenders require 6 months seasoning for cash out refinance. If it takes you 3 months to complete the project then you will have to wait 3 more months to refinance if you are getting your money out. On rate and term refinance there are no seasoning but of course all renovations must be completed.

@Karl Kaeser if they are not moving forward I would ask them to leave and if they did put money on escrow I would tell them their escrow will get refunded when they leave. Before you put the house back on the market make sure to have a new agreement on that existing contract because if you do go in contract with a new buyer you would be breaching that existing contract. Talk to a local attorney to help you with that. That's what I would do.

In my personal experience hiring my own construction crew wasn't the best idea. I found myself managing personal the moment I would leave they would jerk around and not move as fast. Besides the liabilities it wasn't worth it. Get a few people that are handy and hire them for jobs but do request that they should finish on schedule and always always keep looking for better prices and quality some handyman start to increase prices over time.

Go ahead and do it be a local connector, invite real estate attorneys, Insurance agents, contractors etc. It's all about building your network and helping other people connect.

amazing job

Looking to connect with local real estate agents, investors, wholesalers, contractors, Building permit expediters in Pennsylvania. I will be coming there every other week for a week to study the market and connect with local professionals to hopefully do some deals. I am considering moving there. 

@Gilbert Dominguez totally agree with you.

@Michael Newman Michael you are asking for professional advice here I have noticed everyone has adviced you the same. Be realistic would you lend someone inexperienced like yourself 100% financing on 3 deals with only 5k as reserves? In this business you have think like a lender in order for your deals to make sense. I always advice new investors that don't have the sufficient cash to invest to get their real estate licensed so they can get a feel of their local markets invest in leads and work they way up on investing. A great way to learn faster is to help investors get deals and learn from them in the real world. Don't believe that hype my brother.

@Caleb Heimsoth He doesn't get it does he.

Hello guys 

I need a reliable funding source for my fix and hold and rental portfolio.   Any suggestions please