All Forum Posts by: Juan P Gomez

Quick question I have a 2 family home. I rent my home to my farther at low rent price . I really don't make a profit , do I need to report that income even though it's a family member?

Has anyone heard of this company?

Help?

Has any body heard of these type of offers?

I got an offer in the mail from (point) offering 10 year term length $0 monthly payment and preapproved for 100k cash.

This company places a lien on your home to secure performance on the agreement.

Looks very temtpy to scale another cashflowing home with this money!

Has anyone heard or used this company ?

What do you guys think , check out the website.

Www.point.com

Www.point.com

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Thank you all for your opinions 

It was my personal but now its a rental property earning 7% cap. I Wouldnt really want to let it go , curious to know why everyone suggests to sell it. My other thing is the second home were i would like to purchase is in Florida which i plan to move to in 6 years. 

The Condo is in New York and its a pretty solid market. I understand what your saying though. But in regards with going with a Heloc which i know nothing about, do i have to report to the lender that provides my Heloc that i will use the money for a second home or better yet a second home that is a duplex. Wouldnt the new mortgage company that i will be lending me the money for the second home deny me for using a HELOC?

I have a Condo with about 72k in equity. I would like to purchase a single family home @ $298 or a duplex at $375 that i really like . What would be my better option to make this purchase. Heloc , Home line ? Not sure if there is a better way . Can some one help me, also i have 20k in saving to add to the down. 

Thanks 

Hi , I may be getting sued and I currently have my name on a deed but not on the mortgage. My Mother purchased a home 4 years ago and put my name on the deed. I am not on the mortgage and it is currently a residential mortgage but the home is currently being rented out for cashflow. Could they legally sue me and take my mothers home for me being on the deed?