All Forum Posts by: Flavio Espinal

Hi BPs,

It is possible to switch from a mortgage to a HELOC 1st lien?

I contact a couple of banks and they are all willing to do a 2nd lien on my house for the HELOC but I haven't been able to find a bank that is willing to do a HELOC for the amount that is going to pay off my mortgage and start the new HELOC with that balance + any equity remaining as available funds.

It is actually possible to do this? or i need to have a heloc with an available balance high enough to pay off the mortgage?

I’m also trying to decide to become a Replace your Mortgage client. Since you’ve gone through their program, would you recommend spending this large amount of money just for this list of banks?

Hi all,

can someone please provide the name of a couple of Real Estate Investor friendly banks.

i having dificulties to find a bank with programs that can facilitate the BRRRR strategy.

Yoy can send me a direct msg.

Hi There,

I have a questions in regards of rental loans.

When a company (hard money loan) offers Rental loans. That one is for a property that has been rehab?  (i buy and rehad and after that apply for the rental Loan? )

or

They finance the purchase + rehab and refinance (rental) ?

Another question, would be better to take one of these loans or should i buy the property and after that go to my local bank a do a Cash out refi?

I notice the rate in this rent loans are 4.99% and above. and i think i can get a better rate in my local bank. 

Hi There,

I am not even close to be ready to invest in a 10+ Unit.

But i wonder how do we find good 10+ Units opportunities? 

Hi There,

Me and a friend are in the process to buy a land to build a house.

Do you recommend to create twos eprate companies to buy the land, apply for the loan and everything Or create a join company 50%? 

i asked because i also in the process start flipping houses and BRRRR on my own and not sure if i am going to create a company, if i do will have 2 companies (1 alone and 1 with my friend) or should each one do a company and just share responsibility as independent companies in this project?

Hi There,

I buying a property for 75K (appraise value is around 115k) the property basically do not need any repairs. (sellers is just going through financial hardship) and it is currently rent for $1,000 (good tenants no late payments)

I getting the property through a hard money loan 8% annual

Question is:

Should i do a delayed financing and payout the hardmonye loan as soon as possible?

OR

should i just pay interest for 6 months and after the (seasoning) do the cash-out refi for 85K?

hank you ina advances for any advice 

Hi There,

I know we can use cash and HELOC to buy a property and after that do the delayed financing.

But can we also use a Personal Line of Credit? 

If i take the money out of a personal line of credit. That count as cash? Can i do the delayed financing?

Hi There,

Do you guys know which banks allow refi cash-out in 6 months or less? 

Thanks,