All Forum Posts by: Ignacio Sepulveda

Hello - does anyone know of a private lender that is willing to do 2nd lien mortgages on rental properties? I own a few properties that are well collateralized (<50% LTV), but are on attractive 30-year 3.5% interest rates. Would rather add a second mortgage (up to 75% LTV) to free up some equity to buy more RE, but seems like that's hard to come by. Has anyone dealt with this before? Any advice other than a traditional cash-out refi? Thanks!

Okay...so I know many of you are probably thinking "yes, it is no matter what." But I'd like to share my thoughts here about potentially not doing a home inspection. Reasoning below: 

1. The property is governed by a HOA that covers all exterior (including roof and structure).

2. I inspected the property with my realtor and we found nothing alarming (no mold, no stains on walls or ceiling, checked plumbing and it all seemed to work fine)

3. The cost of getting an inspection would be ~$300

My thought process here is "would we find a repair that would offset the cost of the actual inspection?" My gut says no but I'm open to hearing people's thoughts about this. I know it sounds cheap but we're always looking to save money in a smart way if we can. Because the property has such a comprehensive HOA, it is essentially insured on the outside and the only major items I'd be worried about on the inside are the items I noted in bullet 2. Does anyone think this is a bad idea?

@Dawn Brenengen Well, one is a primary and another a rental. I’m sure you can guess which one is which :)

Would need help finding tenants soon. Maybe your company can help!

@Dawn Brenengen Thanks, Dawn! Closing one next week in East Raleigh and another in Cary. Still looking for more opportunities though!

Hi everyone - my name is Ignacio and I'm a relatively new rental property investor in NC. Closing on two properties this month and would love to connect with nearby investors in North Carolina.