Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Joshua Telles

Joshua Telles has started 8 posts and replied 13 times.

Post: Is a Website needed?

Joshua Telles
Posted
  • Posts 13
  • Votes 7

Hey everyone! 

I have been talking with a few other real estate investors, some suggest to create a website to funnel potential tenants, setting up an automation phone line, and a callers list for screened tenants.

currently have two rental properties. One has been rented out for four years same tenants and the other one is newly acquired and have been trying to find the best platform to market it (furnished finder, Zillow, Airbnb, etc)

Would the suggestions from the real estate investors be excessive or something to look into?

thank y'all for all your help!

Post: Tenant Screening Process

Joshua Telles
Posted
  • Posts 13
  • Votes 7

hello everyone!

My fiancé and I just recently purchased our second rental property and have listed it on Furnished find. One of the roadblocks weir running into is the potential tenant will keep communication and go silent once we bring up background checks. I wanted to reach out to y’all and see if this is a common experience or if we are doing something wrong with our process. Thank you all for your feedback!

Post: Looking for Consolidation Loan

Joshua Telles
Posted
  • Posts 13
  • Votes 7
Quote from @Jacob Sherman:

How much are the 2 properties worth ? 


 The first property is worth 326k and the second is worth 220k 

Post: Looking for Consolidation Loan

Joshua Telles
Posted
  • Posts 13
  • Votes 7

Hello Everyone,

I'm searching for a lender that is able to do a 500k consolidation loan, my current debt with my assets sits at: 480k (2 rental properties, 1 vehicle, 1 Heloc). A couple investors have told me it would be advantageous to go ahead and consolidate everything into one loan. 


Given the current market rates and 800 credit score, what would that look like monthly on the 500k loan? 


I appreciate anyone that can steer me to a lender that is open to these type of loans.

Thank you in advance!

Post: Financing 500k loan consolidation

Joshua Telles
Posted
  • Posts 13
  • Votes 7
Quote from @Brandon Croucier:

How much are the investment properties worth?

What is your current rate on that 370k?


Property 1 = 209k balance (349k value) 2.6% on a 20yr conventional 

Property 2 = 170k (218k value) 5.6% on a 30yr conventional

(approximating on original post but total mortgage debt 380k)

Post: Financing 500k loan consolidation

Joshua Telles
Posted
  • Posts 13
  • Votes 7
Quote from @Chris Seveney:

@Joshua Telles

Depends on the interest rate you can get and the equity you have.

If your rates on your existing properties are lower than today’s rates then it does not make sense to refinance for higher rate debt.

I would only consider it if rates on existing loans are high or you are in financial trouble

Also never leverage a home to pay for a car or pay a car off.


 My thoughts exactly, couldn't wrap my head around consolidating my current interests rates (LTR: 2.6% and MTR: 5.6%) would be too hard to justify. 

Trying to wipe this debt out fast as I can without having to keep doing crazy hours at my W2 lol 

Thank you again Chris!

Post: Financing 500k loan consolidation

Joshua Telles
Posted
  • Posts 13
  • Votes 7

Hello Everyone,

I was talking to an investor in regards to financing and his suggestion was to get a 500k loan to put towards all current debt, but wasn't sure all the factors that may be implicated with going this route.

My current portfolio has 2 properties (1 LTR, 1 MTR = 370k), and current debts: HELOC at 54k and a vehicle at 40k.

The investor's theory behind his suggestion was to use the 500k loan to wipe all debt and only pay on the new loan, I'm not sure if this would be advantageous financially due to my current debts monthly payments set at: 

LTR = 1900

MTR = 1500

HELOC= 550

Vehicle = 850

Total = 4800 monthly 

At current loan rates for 500k, and a 800+ credit score be a lower monthly than the $4800? 

Thank you in advance for any information/guidance to this scenario 

Post: Networking- new to real estate investment

Joshua Telles
Posted
  • Posts 13
  • Votes 7

Hello Everyone! 

My name is Joshua, I'm a San Antonian born and raised (Go Spurs Go!). I'm fairly new to the real estate game and currently have 2 properties; 4 bed 2 1/2 bath renters have been in there going on their 5th year, and a new 3 bed 2 bath we're looking into using for a midterm.

I work as a radiology manager for Methodist and been with them going on 10 years. I've been blessed to have networked with a lot of nurses, management, and recruiters with my position. I'd like to slowly move towards the investment and property management to hopefully replace my W2 income, slowly but surely. 

I'd love to connect and network with y'all, I'm in the business of helping people grow, and I love learning new things; processes and strategizing.

Feel free to shoot me a message!  

Post: Is a notarized lease agreement needed?

Joshua Telles
Posted
  • Posts 13
  • Votes 7
Quote from @Chris Seveney:

@Joshua Telles

Why are you having a notary sign ?

I have never had a notary sign a lease agreement. Typically we get a copy of their license / identification and pull credit etc after they sign a credit authorization form.

Typically notarized documents are needed when recording them with a county, but for a contract it’s very rare to have contracts like a lease notarized.


 Hello Chris, 

Was looking it up on google and got mixed messages regarding the notary. For the very first year of the tenants living at the property I was under the impression that a notary was required to make it a binding contract. (at the time and currently still new to the Texas landlord/investment business). 

And thank you for replying so quickly, I greatly appreciate it!

Post: Is a notarized lease agreement needed?

Joshua Telles
Posted
  • Posts 13
  • Votes 7

Hello everyone!

I recently had my tenants extend their lease agreement but we've had to adjust whom is renting and the responsibilities. I got their first agreement signed from a notary in person but this time around I have multiple tenants that work all different schedules and it is difficult to get all of them together to do this in person.

I recently looked into doing docusign route, but was unsure if I could have the notary sign after the tenants have signed electronically. 

We're also going to start MTR on our new property for travel nurses, how would I go about doing a notary signing then?

Again, not sure if a notary is necessary or if its just an extra binding option. 

Thank you everyone for your help!