All Forum Posts by: Emilio Caamano

Thanks a lot Mike

That's the feedback that I was looking for !

Hi Team,

I'm looking for buy and hold opportunities in San Antonio (I'm in Austin, TX)

Ideally, looking for small rehabs/cosmetics repairs

It could be Small MF (<4) or even larger (Depending on price, maybe 10-14 units)

Please, if you have been working with someone that can source some deals, please let me know

I'll plan to start attending some local MeetUp next month, but trying to start the networking process by BP

Regards,

Emilio

Any one familiar with this location?

I'm analyzing a deal from a turnkey operator on Chicago and got to a deal that might make sense

But in the map, looks far from Chicago 

Wondering about the local market. Any one familiar?

I'm concern about tenants turnover and DOM to close the lease.

Regards,

Emilio

@Dan Ward you might be able to even do a Owner Finance. You get relief of the loan/debt and you might be able to capitalize your current house

Hi BP,

I am looking for a referral to a commercial RE broker  for a Multi-family units at RTP, NC

Looking to research 6-20 apartment units

Any experience with this kind of properties at RTP?

Regards,

Emilio Caamano

Thanks a lot everyone !

This is exactly the "why" of my post, this will be my first property and might not be the great idea.

Additionally, the price of the houses was low, so potentially will need to be cash purchase, that means a bigger risk

I'll keep looking, any additional advise, I'll be happy to take it
I've another question, but I'll start a new discussion to avoid mix and match of topics :)

Regards,
Emilio Caamano

Hi Team,

I've been reading for some time on BP
But, I want to get into the active phase to start purchasing my 1st property

I've found some properties en Kansas City, MO. Zip codes 64123, 64128, 64019 (Jackson County)

By any chance there is any content where I can learn about where to invest in KS?

I'm living in Austin, TX

And I've been looking for opportunities in Memphis, Chicago, Little Rock, Kansas City, etc
And of course, interested in Texas, but the prices has been going up fast

Regards,
Emilio Caamano

@Teage Staunton There is another alternative, but it depends on multiple factors.

If you are purchasing the property, under the market value/appraisal value.

You can purchase the house in cash (Doing that is Austin will be an important number) and then Refinance (up to 75% of the Appraisal value)

I'll try to explain it by an example

Home Market Value 100K

Conventional Loan = 20% (20K) Downpayment 80% Loan (Easy)

Cash + Refinance:

Purchase price 85K 
When you refinance, the bank will loan (Same requisites as Conventional Loan) up to 75% of the appraisal value of the property. In this case the 100K * 75% the bank will loan you 75K

Yo paid, 85K the bank give back 75K, so your out of pocket is 10K

Make sense?
Not sure if this will be helpful in your case, but I guess it's an idea

If you are wondering about how to get the money to buy the house and them refinance, you might want to explore Hard Money lenders, that will borrow the money normally for <6 Months (Meanwhile you do the refinance)

Regards,

Emilio Caamano

Welcome to Bigger Pockets ! Great place to learn about REI

Hi Melissa,

I understand (never did), that this this type of request will have more traction if be done through the marketplace (you would need a plus or pro account)

You can also check out the hard money directory

Probably if you go to any REI meeting in town, you will find some as well

Regards,
Emilio Caamano