All Forum Posts by: Hugo Navarro

Thanks!! Yes I understand I have the full equity, but I might have asked wrong. If per say the house is worth $93 but valued at $150, how can I borrow against it with having that $40 plus in difference to rehab project? I dont want to use hard money lenders, I can rehab a house in 2 months complete, and hope it sells withing 1-2 month. With that said I reqally need to find a way how to use my assets and borrow against them to rehab houses and keep it going without having to many loans or worrying how to pay back.

@Stephanie Medellin thanks that’s good info, I am not knocking any one down for each their own. I was just wanted to figure how it works, because it just seemed that you have to sell quick in order to pay back the hard money lenders as interest is high. But I am interesting in how to pull the equity out of investments properties, because I have some road blocks with banks to fund, because if It’s not my primary they won’t. And i had banks that wouldn’t fund me using my primary because I never had a mortgage and my house was paid for prior. I’m  trying to learn as i grow, it’s always good to have any advise. Thank you

@ Stephanie Irto, I’m not trying to pull equity on this one...i was asking for the next house i flip and has enough equity to use to fix, I was using it as an example. I’m still trying to get my head around how people make money borrowing from hard money lenders, as most ask for 20% down plus fee....so I funded myself with my cash out equity..but I really would like to learn more as financing projects to keep at least 2 going at once or so.. if possible.

@ Ryan S. Kearns  house was not financed was bought cash, just happened to have a good equity. This house is getting final touches this week to be in the market, but i wanted to figure out for the next one. It’s a learning process. Don’t know if it’s a good idea pulling an equity in it now, to buy another propert, but Im open if it is or not?

Im a fairly new investor, just starting to buy houses to flip, I’ve had rentals for 10 years which is a different ball game. I’m trying to figure out how to pull the equity of a house that’s is worth more than what I purchased as an investment? My Bank won’t do it, but i know there’s a way to do it.

Purchased a home $93k tax valued $150k, there’s $43k of equity.

I’ve paid out of pocket to rehab and will be on the market in a few weeks, but if i could of pulled some equity from it, i would of used my money towards another. I’ve asked CPA, Broker, investors, and no one seems to want to help at all, so investing language has been all self taught. I know the remodeling side I’ve done it for years and have built a business relation with all my subs. Now is getting the investment part.. any advise or help?

@Brent Coombs yes I own my primary, but recently pulled out cash equity loan 30% of value, so therefore I have a mortgage, that I’m using to buy and fix investment properties, but I have the rental that I can use to purchase another rental property...

I own free and clear a rental property, but I’ve tried getting an equity loan to purchase another, but bank has said i can’t unless it’s my primary home... is there a certain person or way to pull a loan for another investment property? I don’t want to pull all out of just enough for a down payment and have enough to fix enough to rent. I really don’t want to go thru any hard money lenders or private...is there another way to go about it with low rates...

Any books out there that have been real useful and educational for flipping, managing and estimating?

Little background: I've been doing renovations for 10years, my wife and I have decide to approach the flip and fix business. We have started last mid year and have flipped our first making $18k in profits..we have open new LLC for this business and no longer do renovations for clients. We have developed a relationship with all our subcontractors for over 10 years and are using same subs for ours. I have learned that not many investors will explain how to better tax efficient or how to use its equity...I need to figure how can I go about this? I have asked bank but since I have a cash out equity loan, i can't pull any equity. I did not go thru hard money lenders or anything I used equity for my house.

We are in our second and been using all cash with I knew I could do different. Example: House was purchase at $93k and tax valued at $150...that’s $40 k plus in equity that I could of used to fix it up.. we are almost done with it and agent says it will list maybe up 190k or low 200’s or even 200.

Which I’m okay with, anything above $150k will be a profit. I need any reading advise or any advise on being more tax efficient as how do I cut taxes down for investments and how can I pull equity? Any information is appreciated

Investment Info:

Single-family residence fix & flip investment in Baytown.

Purchase price: $75,000

Cash invested: $27,000

Sale price: $131,000

Pier and beam, added new kitchen, all new flooring, updated bathroom, all new fixtures, and recess lighting

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

I knew the area

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

Thru email

How did you finance this deal?

Cash

How did you add value to the deal?

Gutted all wood paneling, added recess lights in kitchen, focused on the kitchen and bathroom

Lessons learned? Challenges?

People looked for master suite and second bathroom

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Real estate agents