All Forum Posts by: Jessica Corona

Great news & Great info!! thank you both for your response! 

@Tony Wooldridge Thanks! Please let me know when the meetup will be I would be interested in attending.

Hi there, 

I am looking at buying a Multi-Unit investment property. I would need to obtain a Private Loan that would be paid back in 1 year. I have someone with an IRA who is willing to loan me the money at 6% interest for 1 year with a balloon payment at the end.

It is my Retired  EX stepfather (never adopted). so there is no legal or blood relative connection. I am wondering if that counts a disqualified person?

He has quite a bit of money in his retirement accounts but is just worried about having to pay taxes or capital gains on anything if he were to loan me the money. 

I am looking for any advice on the subject. 

Thank you for your time,

Jessica Corona

Hello Everybody.

I just wanted to take a minute to introduce myself. My name is Jessica Corona I am a mom of 4 with a passion for real estate. at 22 we bought our first home a fixer-upper lived in it for 7 years and then got the opportunity to purchase a beautiful Victorian home that was pretty much condemned. we Fixed up the Victorian home and moved into it and rented out our other house. 

Last year we sold our rental property & reinvested in a Flip. We made a risky move and bought a house sight unseen at auction. The house was BAD.. we ended up having to gut it. We did most of the work ourselves & hired some it took us a year. We listed FSBO and received a full price offer within 10 days. We are set to close any day now & already have our next one lined up.

Our first flip taught us sooo much. we are ready now to really hit it hard. do a couple more flips and invest in some rental properties. 

best of luck to everyone on their investment ventures 

Respectfully,

Jessica Corona