All Forum Posts by: Jose Alonso

@Patti Robertson Hey thanks for advice.

Alright guys this debt to income comes up every time I talk to someone about real estate investing, and to be honest I don't know all the answers. So I thought we can start a discussion on this subject, maybe we can all learn a thing or two. Ok so you buy your first property a duplex you live on one side and rent the other, what's next? You might struggle to get that second loan but you do, not for what you expected your preapproval is only good enough to buy an apartment in a good area that cash flows. Ok, what next? Important question will your lender use the cash flow from your property's as income or completely ignore it and tell you that your debt to income is maxed out.?

Let the discussion begin! Please add tips and strategy's on how to add new property's to your portfolio when W2 income is low.

Hey guys I'm looking for any good wholesalers in the Miami or Broward County area. Any recommendations would be great, and if you are a wholesaler please send me a message so I can be added to your buyers list looking forward to doing some  deals with you soon. Thanks. :)

Hey @Anthony Adkins welcome to BP brother, your in the right place. Its amazing just reading the responses  you've gotten from this post. How fellow investors just want to help. This is an awesome community of people who just want to see each other succeed. Hey by the way @Matt Picheny I'm definitely going to the meetup hope to see you all there.Hey @Carlos Coppin Jr I would love for you to add me to your buyers list man. I currently own a duplex in Miami, and are planning to buy another one this year I've been looking in the Broward area since prices down here in Miami are kind of ridiculous. So please feel free to send me all you got, my dad is also starting to buy some propertys and I will share your list with him thank you.

Hey @Taneisheo Ferguson amazingly enough I found it on the MLS don't ask me how I got lucky, hard to find good deals in Miami on the MLS. So I was in my friends office searching the MLS hes an agent, and found nothing refreshed the page and BOOM there it was for $235,000.00 duplex 4/2 2/1 on each side immediately I knew this was a steal these property's in this area are selling for 315,000 plus. Called the Realtor he already had six appointments after 20 minutes of it being on the mls. So I headed to the property the Realtor was there I did a quick walk through with him as more cars were waiting outside to see property. He told me he just received a cash offer for the full price. So I told him to represent me as well as the seller so he wont have to share commission with another agent. Offered $250,000 and crossed my fingers. To be honest with that cash offer out there I didn't think I would get it, but I did. I would search the mls every single day for hours man. Be aggressive good luck.

Ok awesome thanks @Andrew Postell. Hey @William Kenley I plan on it being a rental, maybe cash flow around $600.00. I didn't know that cash out refinance had higher interest rate that's interesting thanks.

Hey guys do any of you have experience doing a cash out refinance. Can you please tell me what to expect and how was your experience. I plan to do a cash out refinance sometime this year maybe around April, and plan to buy my second property around November. Does this stradegy sound good to you guys? 

Hey guys thanks to all for the replies. I appreciate the help.

Hey guy's can anybody recommend me a good CPA with real estate investing knowledge and experience please.. I would greatly appreciate it guys thanks in advance. I just bought my first property this year, and I'm planning to buy my second one next year. So I wanna make sure I'm doing my taxes correctly and setting my self up the best I possibly can. By the way I'm in the Miami area.

Yea it already has grass blocks and they are pretty hard so should be good for car travel unless its pouring. No @Account Closed its not mud. I think I will leave it untouched for now. Thanks for the input. :)