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All Forum Posts by: Account Closed

Account Closed has started 23 posts and replied 48 times.

Post: Where are all the current San Antonio REI meet-ups being held...?

Account ClosedPosted
  • Rental Property Investor
  • Porter Ranch, CA.
  • Posts 48
  • Votes 3

@Seth Teel Haha...oh'well.

Post: Where are all the current San Antonio REI meet-ups being held...?

Account ClosedPosted
  • Rental Property Investor
  • Porter Ranch, CA.
  • Posts 48
  • Votes 3

@Seth Teel That's fantastic...and thank you for responding with exactly what I was inquiring! I'll also look into the other two meetup associations you mentioned; the REIA I already have.

If there are any other meet ups around San Antonio I'd like to hear from anyone. Thank you!!

Post: Where are all the current San Antonio REI meet-ups being held...?

Account ClosedPosted
  • Rental Property Investor
  • Porter Ranch, CA.
  • Posts 48
  • Votes 3
I'd very much appreciate it if you can share w/me the times and locations of any and all current REI local meet-ups. Our objective is to network as soon as we touch down with the goal to connect, befriend and possibly work with fellow Real Estate Enthusiast. Thank you and have a great day y'all!

Post: Building a team in San Antonio Texas...fix 'n flips "BRRRR", ETC.

Account ClosedPosted
  • Rental Property Investor
  • Porter Ranch, CA.
  • Posts 48
  • Votes 3

Hello! My wife and I are leaving California(my last duty station...fulfilled my contract and now a Veteran) and going to migrate to San Antonio. The economy, unemployment rate, job growth, population growth, affordability, households making improvement(s), military/Veteran friendly environment, free market state, no income tax, etc. etc. all helped with our decision to become San Antonian transplants in the next month. 

We have a comfortable 6-figure amount of capital to begin our REI journey. Our goal right out the gate is to pick something up, rehab it and based upon the market if it's beneficial to either hold and rent or flip...we'll decide then. Long term; is to establish a portfolio of units significant enough that out performs our EI and eventually get into commercial REI. For now we're jumping with both feet in and once a team is assembled over the next month or so...we can see multiple projects happening in unison.

My question(s) is/are...in being proactive prior to our actual move to the Lonestar state next month; I'm attempting to acquire through certain avenues of networking(BP being one of them) a team who'll eventually become my friends, business partners, associates, etc., all who'll be contributing an important aspect and shared talent. This team will be a licensed GC, Electrician, Plumber, HVAC, wholesaler(s), RE Agent(s), hard money lender(s), third party inspector, a CPA, etc. If anyone is willing to share a referral or possibly even be one of the roles needed, respectfully I'd love for you to reach out and would greatly appreciate it. It could become beneficial to the both of us. 

Thank you for taking the time in reading this!!

Cheers.

Post: Being the 'net worth' for new investor commercial loan pros/cons?

Account ClosedPosted
  • Rental Property Investor
  • Porter Ranch, CA.
  • Posts 48
  • Votes 3

If I were to be the net worth for new investors in a commercial property, how does that effect my personal future real estate investments, my DTI, etc.?

The new investors are my sister & her husband; they have great credit and all the capital...they just need the net worth requirement...that's me.

Also; if I did fulfill that requirement for them...if the the property is cash flowing nicely and all expenses & debt & property management are all paid for, etc....could I be taken off the loan as the net worth and have it transferred into only my sister & husband's name...or their business LLC name?

Much obliged...thanks!

Post: Question for Commercial lenders in San Antonio, TX...

Account ClosedPosted
  • Rental Property Investor
  • Porter Ranch, CA.
  • Posts 48
  • Votes 3

My wife and I live outside Los Angeles county in California and have about $300K in capital and both of our credit is about 700 each. We're looking to get into REI with our 1st property being a commercial say 8-16 units for around $1M.

My question for lenders is; our net worth won't fulfill the commercial loan requirement. So my brother in law offered to help fulfill that requirement with a net worth of about $2M. Therefore it'd be my wife and I and her brother on the commercial loan. How does this effect any of his personal finances? Ie. His future investments...will he be able to purchase anymore properties of his own? He currently has 3 residential properties. Will it effect his debt? After a year can we take him off the loan if our property is cash flowing? Any other useful information regarding how it'll effect him either pro/con would be greatly appreciated!!

FYI; we intend to have a reputable property management company for the 1st year as well.

Thank you!

Post: VA loan cash out refi. into conventional to use VA again...?

Account ClosedPosted
  • Rental Property Investor
  • Porter Ranch, CA.
  • Posts 48
  • Votes 3

Any experience cashing out a VA loan into a conventional loan? I wanna get into another property utilizing the VA zero down again?

I know it'll be 75-80% ltv... curious re: seasoned, is it 6 mths or a year, etc.

Post: Anyone cash out refi. < than 1yr out of VA loan w/conventional?

Account ClosedPosted
  • Rental Property Investor
  • Porter Ranch, CA.
  • Posts 48
  • Votes 3

Thinking about using a VA loan for an additional property take advantage of zero down...it's a distressed property. I'll throw a lil'capital into it (BRRRR) and after seasoned because it's a VA loan can I use a conventional to cash out refi. so I can pay off VA loan and then use the VA again to repeat? Anybody have experience in doing this? Thanks.

Post: Realistically; has anyone gone from ie. 16 to 32-64-100 unit's?

Account ClosedPosted
  • Rental Property Investor
  • Porter Ranch, CA.
  • Posts 48
  • Votes 3

I'm wondering who has implemented a 'Grant Cardone' methodology throughout their REI journey and/or does or has it worked for you similar to his teaching's.

Have you actually been able to buy, hold for 3-5 years and sell at a 150% increase in value from original purchase and then go on to a twice the unit's purchase for your next property?

Basically, I suppose I'd just like some validity to this "double-up" approach and is it tried and true to "normal" REI's?

I welcome and appreciate all stories of who are willing to share their REI commercial MF journey. Thanks in advance!

Post: Benefits of a RE License for an investor in Texas...?

Account ClosedPosted
  • Rental Property Investor
  • Porter Ranch, CA.
  • Posts 48
  • Votes 3

How beneficial is it really, to acquire and hold a RE license in Texas for any type of MF investor...either if you're a new/seasoned veteran with hundred's of unit's? Much obliged.