All Forum Posts by: Giancarlo Orozco

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $65,000

817 S 12th St, Goshen, IN 46526

How did you finance this deal?

Capital partner.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $75,000

Beautiful single family home I bought via subject to the existing mortgage.

What made you interested in investing in this type of deal?

The existing PITI was really low, and I knew taking over that mortgage would result in cashflow.

How did you find this deal and how did you negotiate it?

I found it from a wholesaler, and negotiated the entry fee down to about 8k.

How did you finance this deal?

I financed the deal using a capital partner who brought all the funds to the table for me.

How did you add value to the deal?

We renovated it with light cosmetic work.

What was the outcome?

A cashflowing home!

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $154,500
Cash invested: $5,800

Nice 3/3 purchase with a conventional loan. Decided to rent it out instead of live in.

What made you interested in investing in this type of deal?

Was looking for a primary really, wanted to use a loan and not wait for the market to correct so I just jumped in.

How did you find this deal and how did you negotiate it?

Found it on market, negotiated sellers concessions to cover my down payment in exchange for asking price.

How did you finance this deal?

Conventional Loan

How did you add value to the deal?

Light cosmetic work done

What was the outcome?

Decided to rent it out. I rent it to a tenant who is doing STR arbitrage on it.

Lessons learned? Challenges?

Find a better property manager. Couldve rented it out sooner.

I work in the Cleveland market as an investor & know wholesalers here. We specialize in creative financing so id say try to lock up deals creatively to give you an edge. Or maybe you need to connect with some wholesalers there to get better deals and terms. BRRR'ing with conventional loans and with on-market deals will make it harder because your negotiating with retail pricing. Avoid East Cleveland and those D areas 100%.

PM me i can connect you to several DSCR lenders I use

DSCR loans are the way to go hands down and the loan depends solely on the performing assets and not based on debt to income ratios, work history, income, etc. They usually require 20% down. This is the go to loan for commercial and multifamily imo.

@Devon Rogers

Hey Devon I’m a cares act agent.

The most it'll do for you is allow you to not pay for up to 12 months. Those 12 months aren't paid for by the government but rather added to the loan either directly to the principal or as a second separate balance (lien). This will strip out your equity very quickly since all (PITI) will be apart of your balance while you're on the program. But it's a way to get by if your not working. It's great for people not working.

@Whit B.

The option to give you the most equity possible is obviously selling the property, but I understand you may not want to do that. But that option will answer your question. 2nd best is cash out refinance since you want the reserves without collateral ties.

@Nina Granberry

You can invest it in some of the different financial markets producing 3%-12% annually. I trade foreign exchange (risky) but my system nets me 21% annually on average.

@Chris Reyes

To live off the passive income real estate can provide to preach the Gospel of Christ full time.