All Forum Posts by: Elenis Camargo

@Arianne L. That's amazing!! How were you able to finance so many deals so quickly? From savings from your jobs?

@John D. Would you be able to recommend any?  :)

@Marci Stein I think that's reasonable. By putting the refrigerator in the back shed without asking you, they became liable for the unit. As long as you get one that's reasonable compared to the last one you used to have. I say it's fair.

@Katie Hendrixson It could be the area. I was evaluating the Charlotte, NC area earlier this year and the cash flow on all the properties I looked at was either extremely low or negative. I looked at about 20 properties. Same with SFH or multi families. But in Florida where I invest, the cash flow is positive. So I think it could be the area.

@Russell Brazil I have one other property with equity but not sure if I would be over leveraging myself if I used the equity of one house and a HML for the same deal...?

@Rich Hupper Yes I've been looking for deals like that as well. Different strategy than this post. Here I was wondering if HML lend on appraisal value or purchase price. It seems to be purchase price only. Unless you know of any that do appraisal value?

Thanks @Tarik Turner !

@Jason D. If you don't mind me asking, they lend you 100% of the renovation costs? Then you refinance the property? I saw you did your first BRRRR in May, congrats!! That's my next goal as well. I live in New York but am originally from Florida and invest in Jacksonville. Haven't been able to find a property that a BRRRR would work for. Do you purchase foreclosures? Or you purchase off the MLS?

Thanks @Rich Hupper !

@Jason D. I've found properties that appraise for higher than the wholesaler is asking, so if the lender did LTV based on appraisal, then I would not have to put anything down. When I called them they said 80% LTV on purchase price so for that I just use a bank with a lower interest rate and do 20% down. Have you found any that would do based on appraisal in Florida?