All Forum Posts by: Kevin Quintanilla-Toledo

Hi Daniel, I just wanted to know if your event was still going on. I am at the local roots but seems pretty crowded. 

@Adam Weisenburger

Welcome! I would say figure out what you want to do. What best fits your lifestyle? House hacking? Flipping? Buy and hold? Live and flips? House hack and Airbnb. Those are just a few and go from there. Good luck!

@Joseph Hammel Type slowly one letter at a time. I have had the same issues in the past.

@Joseph Hammel That to me seems very strange, I am a Realtor and I don't see why we are limited to only 2 questions? Maybe the landlord is upset with the tenant is leaving? Are there any other signs that this might not be a good tenant?  

@Joseph Hammel In your rental application did you have the applicants sign something saying: 

(applicant) has certified that this information is correct, and has granted permission for current and former employers, landlords, and references listed on their application to release information for verification purposes.

Most companies will be strict in those areas once it comes to releasing information. Hope this helps.

@Brandon Boog I have my Real Estate license and I invest. I love it, For the most part usually everyone has a decent idea on how much their home is worth. The way I see it is if I buy a house or a property I literally get in it for practically nothing. Your commission is usually between 2.5%-3%. Usually if your buying a deal that good like the one you are referring to, the owner is probably selling it do to some distressed circumstance. You have to disclose you are an agent and either way that is a good thing. You want to let people know what you do. The broker I work with is amazing and most of our agents invest themselves in some way shape or form. We have live in flippers, house hackers, buy and holders etc. Find a brokerage that fits your needs, your style, and overall make sure they don’t charge all these crazy fees just for “brand recognition”

@Account Closed I bought my duplex in Rosemount south of the cities for 350k. I think if you can't afford more than what is out there than consider this. I started with a single family home in frogtown neighborhood in St. Paul. I lived in that house with my family for about a year and a half. I knew that this one house would propel me forward to buy the duplex in the area I wanted. Remember your first deal is not your forever home and it does not need to be a home run. 

@Jaysen Medhurst Thank you for your detailed answer and it makes sense that the seller would want to be in first position. Before I started making offers like this or trying to be creative I wanted to educate myself before the seller or seller's agent had questions which I know they will.

@Danielle Lindblom I have used Royal Credit Union and they offer a program similar to what you are describing. It is a conventional loan and they require a 3% down payment, credit score above 680, and this loan has no PMI. A couple potential cons are that this loan has income limits for example if you make more than 76k you make too much money to qualify for this loan. The second potential con is you can only buy a property under 250K. I had a client that used this loan and the interest rate is around 4.125%.

@Kevin Romines @Andrew Postel Thank you guys for clarifying. My point of this question was to buy a property with as little cash upfront. The BRRRR method is amazing and my issue is qualifying for another loan right now. I just recently bought my second property and I am owner occupying it. I used the VA loan on it so I did not pay anything to get into the home. I was looking for a way to make it more attractive to a seller for example if someone came up to you and said hey I would love to buy your property but pay no money down oh and could you seller finance this deal? To most sellers including myself I would laugh and not entertain the offer. But if I could bring at least 20% cash of the purchase price or more to the seller upfront that would be more attractive. Loan wise since the loan amount I would be requesting is significantly lower than the value of the home in theory I could pay the down payment required and avoid pmi if I used a conventional loan. But since I am not a lender I am seeing if any of this is possible.