All Forum Posts by: Israel Hernandez

Scenario 

Both Homes are SFR 3/2 located in the same general area.

Property 1.

HARD money deal because of the competition... These properties fly off the shelves in CA.

Built in early 60's

Purchase price $90k 20% down

Rate 9% 30 year amtz PITI $723 mon No Pre Pay Pen

Market Rent $1200 mon

4pts Origination

Antoher 3-4k in escrow closing costs

About $10-15k in Rehab costs

Another $3-4k to refi out of Hard Money loan

ARV $145k maybe...

Property 2

Conventional Deal

Built in late 80's

Purchase Price $160k 20% down 

Rate 4.375% 30 year amtz PITI $856 mon

Market Rent $1350-$1400 mon

1pt Origination

$3-4 k in escrow closing costs

$0 rehab

Pretty Much Turnkey

Look forward to your feedback

Thanks 

Izzy

Thanks everyone.

Hello Everyone,

 A little bout myself... I'm originally from San Jose, CA and now live in Bakersfield, CA. I have traveled through many areas on the globe while in the Marine Corps, Semper Fi:) Any who, after the service I jumped into Real Estate, first as a Realtor then as a full time Mortgage Loan Officer... Did I mention this was during the best times in the Real Estate Bizz 2007-2010, YAY! Bad time, I know.

As a result, I left the business in 2010, but began savings my pennies. I always tell myself "I should have been an investor."

So here I am ready to take the next steps to create some passive income...

I am California, so its a little bit more pricey than other areas of the country; therefore, I am open to buy properties out of state i,e., San Antonio, Tx, Phoenix, Az, or some areas of the Mid West.

I've been diving into the BP forums for a while, but just now ready to start investing.

Thanks guys

Izzy 

Buy and Hold! 

What going on BP!!!

A little bit about me... I enjoy long walks on the beach, blah, blah, blah. No Just Kidding, well sometimes.

I was in the Military for about 8 years, then in 2007 I decided to get out and give real estate a try "I know, Great timing right"! Needless to say, I was Mortgage Loan Officer for about 5 years, but as some of you may know, it can be really tough business.

Anywho... I was making o.k. money, but I had job offer I couldn't turn down, so I took it and here I am trying to pick up as much info as I can. BP has tons of great information, so hopefully with what I learned in the Mortgage business and here at BP. I can create a passive income stream or flip some houses to supplement my income.

Look forward to getting to know some of you.

R/S

Israel "Izzy" Hernandez