All Forum Posts by: Jerry Padilla

You have a good argument Jon! I was thinking more along the lines of buy and hold properties and increasing an individuals monthly cash flow from investment properties. I should have been more clear as this is what we are in the process of doing currently. In addition, we are consolidating debt to tax write off debt other than interest we can't write off on our taxes. I should have went into more detail with my post. Thank you. 

Just think if you owned 4 properties free and clear and did cash out refinances on all four how many more properties you could purchase with that money? Let's say your have 4 properties valued at $100,000. You pull out $70,000 on each property approximately after closing costs. You now have $280,000 more cash for down payments. Yes, you can't go past ten properties with conventional financing, but there is the option of private lenders also. Plus all mortgage interest is a tax write off. Even if your case isn't this extreme, even refinancing and doing a cash out on one property can result in increasing your investments significantly depending on your situation.

This discussion is for all newbies and experienced investors to give their input and  share about how they are going to make 2015 the year of success and begin purchasing real estate? What is your business plan in a nut shell to start purchasing? Maybe we can all give some ideas and learn from each other's experiences. When you have a business plan in writing then you are more likely to follow through with it! Let's check back throughout the year to see who is having success, with their plan! 

A local meet up is a great idea for networking, creating contacts and helping other like minded individuals to accomplish their goals!

I see under this real estate agent section there are so many investors looking to connect with educated local real estate agents. This post is to assist real estate agents to use bigger pockets to their advantage to grow their business, by providing something of value to clients in their area. One idea I have is to post educational pieces pertaining to your local market for investors. Every market is so drastically different, and different investors are looking for different ways to invest. Some are more concerned with appreciation, while others prefer a better rate of return. What does your market provide for investors? How have other real estate agents learned to grow their business with biggerpockets..... Without sales pitches? I think this is a great opportunity to learn from each other and set new goals for expanding our business in 2015 and assisting other investors to becoming even more successful with the knowledge that we provide. I look forward to all of the real estate agents responses on how they are using biggerpockets to grow their business and what your goals are for 2015.... Without sales pitching. Thank You! 

I am interested in attending the January meet up. Thank you.

I am a loan officer at MB Financial and also an investor. Is anyone interested in meeting up this month in either the Buffalo or Rochester NY areas to network and set goals for our business in 2015? Please reply if interested and we can decide when and where.

Great posts! If you don't mind me asking who do you use as a portfolio lender and are they national as I see you focus on three different cities? What do they lend up to for LTV? Thank you Wendall! I sometimes need to refer clients to a portfolio lender and I currently only know of one national portfolio lender. If I am unable to assist my clients, I like to try and refer them to someone who can assist them.

At MB Financial we are in business to cater to the investor! 

Please contact me for specifics or visit my Bigger Pockets page for more information.

I am able to assist you with cashing out the first 4 properties.

Investors can purchase or refinance up to ten properties in each individual persons name!

We are a national lender and I am able to assist you with purchasing in most states.

I am glad to answer any questions and assist you with starting or furthering your investment career!

All loans must be in an individual name at closing, not an LLC.

Investor loans - Financing for up to 10 investment properties!
Conventional or Refinance or
Cash Out (for the first 4 properties)
Commitments 3-5 days from submission Purchase closings in as little as 30 days
Credit scores down to 600 on FHA/VA/USDA loans - primary residence only
National lender!
Streamline refinance programs for FHA/VA/Conventional - Save money with less documentation
Low rates & Low closing costs
I am available extended hours
Opportunity to increase your business to have more capital available for purchasing and rehabbing
Lender credit available for purchases
No minimum trade-lines....two scores and an automated "YES"

Thank You so much for the consideration. I appreciate you taking the time to read through this brief summary. I look forward to doing business with you! I assure I can do more for you than many local lenders. I look forward to earning your business!