All Forum Posts by: Jose Castillo

Thanks so much

Where would you start in real estate with $20,000 cash? I do have a current mortgage through fha with my wife just a heads up. Can I partner up with a buddy who has little debt to income and get a multi family home for investing? Like a 3,4 unit home. What type of loan will allow me to do that? From what I'm hearing fha won't let me. Any advice on where should I start? Thanks so much

It would be if the house isn't selling. I wouldn't want to stay stuck with the hard money loan

Can I refinance a hard money loan with an fha 30 yr loan and pay the hard money lender off? And on average how much should I expect to get refinanced for? I was thinking around 75% to 90% depending the lender. Is there something I'm missing here?.

Can I refinance a hard money loan with an fha 30 yr loan and pay the hard money lender off? And on average how much should I expect to get refinanced for? I was thinking around 75% to 90% depending the lender. Is there something I'm missing here?

So if my home was $100,000 the bank wouldn't refi for the whole amount?

Great info

Thanks a lot. And may I ask who's the lender?

With a hard money loan, when will I have to start paying the balance off? Is it monthly or after the flip? Would I have to add it in my budget? Let's say I owe 70,000 and have a two year term to flip, how would I come up with the number to add that to my budget? Do I divide 70,000 by 24 months? That just doesn't seem right. Please help. Is the APR collected monthly or yearly? And last, would I be paying insurance and taxes based on the property before the repairs or after the repair Value? I'm sure it'll be a different payment if I was paying ins and taxes on a $40,000 foreclosed home then a $110,000 home after repairs. Please help me. I'll take any advice

Will I be able to convert the personal loan to cash?