All Forum Posts by: Eric Perez

A lot of great advice and I definitely have plenty of homework to see what would be ideal. I appreciate everyone taking the time to chime in and help a guy out! 

Hey BP. I’m looking for some insight on what folks would do in my situation.

I currently have (2) rental properties that cash flow positive every month after all expenses and savings (#1 $215 / mo , #2 $293 / mo) and am looking to possibly get another property at the end of the year or improve my cash flow on one of the above properties. Property #1 mortgage pay off is $132k, property #2 mortgage pay off is $117k

I have enough cash to put down 25% on up to  a $285k property  or I can use that cash to help pay down one of the above mortgages and refinance into a lower payment which would yield more cash flow. 

What would you do and why? Thanks!!

Hey BP! Newbie here that has a possible first deal in the works! So my god-father has a friend who is looking to sell their home quick and is looking to get around $190k for it. He bought it in a new development and appreciation has been kind to him. Similar homes in the area are going for $210-245k. A friend of mine knows a guy who is looking to buy a home quick and his budget is up to $230k. We want to make a deal happen so that the seller gets what they are asking for, the buyer can stay under budget and get a great deal, and of course we be compensated for bringing it all together! We see it as a great opportunity to not only help our friends get what they need, but get our feet wet in RE.

My question is:

- If the buyer will be financing, is there a way to piece a deal together? I was told wholesaling might be the option but Im seeing that cash buyers may be ideal for that strategy.

We are open to any and all advice, ideas, and strategies. We are fortunate enough to be able to buy ourselves and do it that way but we would like to make it a quick smooth deal for all involved. 

Thanks!