All Forum Posts by: Ernesto Perez

I am looking at a great duplex 2 bedroom 1 bath upstairs and 1 bedroom 1 bath downstairs. Price is good and upstairs unit is currently occupied. Current owner pays heat, water, sewage and electricity! What should I expect price wise to have these separated to both units and off of my books? 

I have come across someone who has two duplexes next to each other fully occupied with on time rents. He has both listed at 115k each but some light touch ups do need to be made. Is it possible to buy both properties with one mortgage loan? I was told a blanket loan or commercial loan were a possibility but will come with high interest rates. 

I am preparing to purchase a mixed used property. 1st floor is made up of 1bd unit/1 bath. The other side of the 1st floor is a small barbershop. 2nd floor is made up of a 2bd/1 bath. 

How difficult would it be to convert the first floor into a 2bd unit and nix the barbershop? Is there any difference in loan options or insurance for buying something with a commercial unit before I combine the 1st floor?  

Hope everyone is happy and safe,

I am Ernesto Perez from Jersey. Between being in the military and not having a solid plan after 5 years passed without me pulling the Real Estate trigger. I dedicated most of my adult life to investing in the stock market and I am now ready to move those fund into my original plans. I have a home now that I bought with a VA loan and looking to add multifamily units to my portfolio. What I am looking to gain is the knowledge of getting the most of my funds through smart loans to acquire as many units as I can.

Looking to purchase a multifamily investment property. I bought my current home with a VA loan a year ago for 115k currently have 97k left it is worth around 135k now after some repairs.

I have a 25% deposit and reserves ready to go. Is it possible to find a mortgage that would allow me to roll repairs into the mortgage? and if there is would that be a good move?

Is there a better option out there? 

Hi everyone, 

Current situation. I have a VA loan on my home bought for 115k and 97k left on loan. The home is now worth 135k.

I want to buy a multifamily home as an investment. Do investment loans exist that allow you to roll the repair cost of the investment property into the mortgage? I ask this because everyone keeps screaming 203k but I will not be living in this home. 

I have the 25% of a down payment and enough in reserves what loan options do I have? 
Should I sell my first home and use a VA Rehab loan for this project?
Should I save for 6 more months to buy all cash and get a personal loan for repairs?