All Forum Posts by: Felix Torres

I've been listening to Grant Cardone a lot lately and started searching different states for 16+ unit buildings.

Is this a good deal?

24 units for $1.8 million.

NOI of approximately 7%?

Let me know if you need more details

Hi Everyone,

Are there hard money lenders willing to lend 100% of the purchase price? If so, can you refer me to any or how the process works?

I'm trying to purchase multifamily homes with these hard money loans and eventually refinance to keep the properties long term.

Hi Everyone,

Are there hard money lenders willing to lend 100% of the purchase price? If so, can you refer me to any or how the process works?

I'm trying to purchase multifamily homes with these hard money loans and eventually refinance to keep the properties long term.

@Brian Van Pelt This is CLASSIC! Sounds like something I would do. Was it worth it?

Hi Everyone,

I've done research on Hard Money loans, but I want to hear about real experiences and the process you went through with a hard money loan.

Only reason I ask because I don't have the equity up front and I see great property potential in my area.

I look forward to hearing your stories, experiences, and things to avoid.

-Felix

Hi Everyone,

I took accounting in college, but no where near an accountant. Especially in Real Estate!

Does any one know any Real Estate accountants in MA or familiar with MA RE tax laws?

@Jaysen Medhurst Thank you for your response. 

I believe it will be a great rental...In the future. What I’m trying to do is buy all surrounding homes because I believe my city is next in terms of the potential increase in value.

Bought my home for $240k 3 bed 2 bath (rounding)  there’s a 3 family literally right around the corner for $380k with 7 beds. I think a good $20k in the other 2 units since first floor is already renovated. Tenants are month to month. Great location since I live in the area.

What do you think I should do to get the property? (If possible)

Hi Everyone,

I want to purchase a second home and use my current as a rental. 

The only thing is, my current home is under FHA.

Can anyone help me figure out what my options are?

Thank you,

Felix 

Hi Everyone,

I always hear about cash transaction, but also hear about investment products associated with them. 

Can someone explain what the meaning of "cash" means in real estate? 

This question might sound obvious, but  this is for investors  (including my self) who legit think they need to raise all that cash on their own or in general to compete with others in the market.

Thank you,

Felix

Hi everyone, 

I always hear about taking the equity out. Can some one please explain how this works and how it may benefit me? How can I increase my equity?

I'm asking because I'm interested in BRRRR and keep these units or properties.

I appreciate your response in advance.

Thank you,

Felix