All Forum Posts by: Latoya T.

@Zach Edelman thank you for the response. I appreciate it!

@Andrew Freed Thank you so much for the response. I appreciate it.

Happy Wednesday

The Issues are 1) I have a a major repair to pay for of 50k. 2) I want to buy a 4-door and 3)I want both to be accomplished this year. I am not sure of the order in which to accomplish this or the best method to finance the repair. I would prefer for the loan to be under my business instead of directly under my name. I do have a credit card and the title of a property under the business name.

Should I fix the repair first and then purchase? I wonder about the affect on my credit to get he 4 - door. I intend to use a prop Mgr so that cuts the profit already.

How should I finance the 50k repair? Options that come to mind are refinance my personal home? Rental HELOC? Business loan? I want to make sure I'm exploring all options. Does a heloc look better than a personal loan when purchasing a property or is a loan a loan. I figured let me ask the professionals. Thank you in advance

@Leopoldo Vazquez I will check out guaranteed rate. Thanks again.

@Leopoldo Vazquez Thanks for replying. We’re you able to obtain a loan term longer than 15 years. I had better.com on the list to check but some reviews made me pause and pursue other options.

I am seeking a mortgage broker who also invests in San Antonio. Hopefully this will reduce the amount of leg work and credit checks for me. This will be my second rental. I intend to purchase a small multi family.

I can google but rather see if anyone on here has some experience with a good one locally. Thanks in advance.

Happy Saturday

I formed an LLC with the intention of buying a large apartment complex (8 unit+). However I do not think I will make much profit. I was considering using 100% financing. A small loan for the downpayment and the sba loan for the rest. if I need to put 10-25% down maybe a 4 family would be better for the numbers to make sense. Initially I was looking at duplexes but the numbers did not make sense for me to pursue that. I need to work on my criteria for a rental because it is not for me as many people have told me.

I heard that one could have four loans before it becomes really challenging to obtain financing. Is that true?

What is the minimum profit you are willing to accept in order to buy and hold?

I will rent my current home for a good profit so I don't want the second one to be a big dud.

I am so glad an audible book lead me to here. It is good to get feedback vs a brush off.