All Forum Posts by: Jorge Astudillo

@Jeff Dulla Thanks for your prompt response, I will try to gather all this information you have mentioned, I believe this is a good start! Thanks!

Greetings Bigger Pockets community, I have a couple of questions: My father in law paid yesterday his mortgage $1663.96,  $29 went to the principal the rest are interest, his credit is 650 and he is not too sure about refinancing because he has some credit card debt that is affecting his credit any suggestions on what strategy to do next? Or any loans out there that you are aware of that may apply to this situation? Any advice you may have will be very well received Thanks!

@Ingrid J. Seller financing also sounds as a great idea thanks! Since i wasn't familiar with the term I did google it and this is what i found.

"Seller financing is just what it sounds like: instead of the buyer getting a loan from the bank, the person selling the house lends the buyer the money for the purchase. The buyer and seller execute a promissory note providing an interest rate, repayment schedule, and consequences of default."

P.S. Thanks for the welcome note.

@Wesley Jeanette Thanks for the reply! :) House Hacking is definitely an option.

@Kyle McCorkel Thank You for your response, Yes I do have cash reserves on top of the $15k, If partnering was an option would you say that this is a good number to partner with another individual? What would you suggest a good price point would be for this amount on both ventures solo and or partnership? Thank you!

Dear Bigger Pockets Members, my name is Jorge. and my wife and I are located in the Chicago-land area. Currently, I am taking the course to get my real estate license. At the moment we have $15,000 ready to invest in a property that will create cash-flow. Please share any ideas or suggestions or even properties that you may think could be a good deal for a newbie that wants to start asap in the real estate world. I enjoy reading every bit of information in this awesome community. Thanks for your feedback.