All Forum Posts by: Juan S.

How it going BP,

Is it possible to combine a conventional mortgage and seller financing at closing, will banks go for that?  Back story.

I found a deal on a single family home that has a garage apartment that could be rented out. I plan on living in the home as a primary resident and renting the garage apartment out to the current tenant that is paying 650 for rent currently. Eventually after 5 years or so I will rent both units out with the main unit bringing in 1800 currently in rent to total 2450. The home will appraise at 316k and is currently listed for 275k. After talking with the agent I found that the buyer is extremely motivated. 

I would like to put two offers in at the same time for the seller to choose one for $225k using FHA loan and another for $250k with $175k as bank loan and the seller caring $75k has a second mortgage with 60 installments of $625 zero percent and ballon of  $37,500 at the end of the 5 years. 

Will banks go for that? If so do you guys know any good lenders that would?

HEY BP family

Hope everyone is well and prosperous. Im looking for recommendation for local attorneys and CPAs to assist in forming an entity for flipping in the central fl area. Is there any one you guys have worked with or heard of that would be good for the job?

Ive heard of people using down payment assistance programs to cover closing cost and down payments. Whats your thoughts on using down payment assistant that will allow you to purchase 1 to 4 units? Do you guys now of any good programs to purchase multi families that are owner occupied? 

Ready to get some skin in the game. Would like to connect with people who have interest in property management (investor friendly), REOs, fix and flips, buy and holds. Im new to real estate investing and would like to assist on helping other with their current business, projects, or whatever it is that is needed.  

Is there any local investor groups?

Need advise on this one BP.. I know a homeowner who has owned his home since 1996 and currently renting it to a tenant, he is close with the family my brother married his daughter. He originally purchased the home for 70k. Since the home has double in value with other similar homes in the area selling completely renovated for around 140k. The home needs about 20k in renovations to be competitive with current homes selling in the area. Well he refinanced the home and currently owes 90k. He approached me about partnering up to sell the home for profit. Any advise on how to structure a legitimate deal if he continues to pay the note and I provide financing for the rehab?

At what point would it be beneficial to flip under the name of a LLC?

I'm about to purchase my first investment to flip. Should I purchase it under the LLC or not?

Originally posted by @James Wise:

Originally posted by @Juan S.:

I am new to real estate investing and in preliminary stages of my real estate investment company. I would like to learn more about the local market and about areas of town best to invest in. I am meeting with a real estate investor in the next couple days and would like to be prepared for our meeting. Any suggestions on the type of questions I should ask at the meeting and why I should ask them? How would I know if the agent would be a good fit to work with a real estate investor?  

You should look to get placed on an MLS drip. This way you can educate yourself on what the market has to offer in real time.

How would I get placed on a MLS drip?

I am new to real estate investing and in preliminary stages of my real estate investment company. I would like to learn more about the local market and about areas of town best to invest in. I am meeting with a real estate investor in the next couple days and would like to be prepared for our meeting. Any suggestions on the type of questions I should ask at the meeting and why I should ask them? How would I know if the agent would be a good fit to work with a real estate investor?  

I am new to real estate investing and in the preliminary stages of starting a real estate investment company. I will like to learn more about the local market and about different areas to invest in. I am meeting with a local real estate agent in the next couple days and would like to be prepared for our meeting. Any suggestions on the type of questions I should ask while at this meeting and how will I know if the agent would be a good fit for real estate investing?