All Forum Posts by: Erick Hernandez

The Book on Flipping Houses by J Scott Check it out, superb info to get the ball rolling on rehabs. http://get.biggerpockets.com/flippingbook/

David Krulac Joe Splitrock Thank you for the clarification, gentlemen. Great interchange of ideas from everyone.

Would anyone recommend a heloc to finance the down payment of a multi family or perhaps a rehab?

No problem Ryan. If rehab costs are running 100k, I will assume the property is not in livable condition. Correct me if I am wrong. Keep in mind that the VA will not lend on a property that is not occupant ready. Same goes for regular banks, they will not lend on properties that do not pass inspection. But the VA is a little more strict. In theory, yes. You can roll 100k over, into purchase price not as equity.

Incorrect, 1031 Exchange allows you to invest proceeds into another property without taxing profits. Say for example you net profit 50k sale on your current property, you can use that towards a new purchase or "exchange of property" so you never actually touch your profit, it just slides into the next property. Do some research, not sure if there are any caveats with VA loans.

Welcome Jonathan! I'm new here as well. Looking forward to sharing thoughts.

Hey BP! Glad to have found this site. I'm a newbie REI enthusiast wanting to learn!! I've been reading a lot of good content and I am super excited to hear and learn from many of you.

Best, 

Erick