All Forum Posts by: Joshua Telles

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

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!

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)

 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!

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 

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!  

 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!

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!

Hello Everyone,

I'm closing on my first mid-term rental this september and want to prep it up to put it on furnish finder. The property is going to be close to 3 hospital systems with various FSED's around them (I work in the medical field as a radiology manager). I feel that this property is in a prime location for travel nurses and professionals.

I've been reading/listening to "30 day stay" to prepare me for whats to come, but also wanted to connect with other investors new and tenner on any tips or procedures they recommend when doing mid-terms, especially on furnish finder.

Thank y'all!

Yes, currently there are new builds going for 30k off, with builder buying down points, and covering a portion of closing costs. The first loan officer offered a 7.8 on a DSCR, but the builder is able to do a 5.8 with mentioned incentives.