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All Forum Posts by: Luis Gonzalez

Luis Gonzalez has started 9 posts and replied 31 times.

Post: Help analyzing a fourplex in Oklahoma city

Luis GonzalezPosted
  • Wholesaler
  • Oklahoma City, OK
  • Posts 31
  • Votes 10

Hi Jay,

     Thanks for replying, Yes I heard that before as well so any input on that is also appreciated. I'm thinking maybe down the road I can refinance for a longer term or maybe I can find a private lender that is willing to do a longer term loan. Unfortunately, private money or hard money is my only way to go for now, I figure if I can acquire bring it up to rental condition and get some cash flow coming in I can look for a better loan in the future.  Do you guys think this is a good plan or are there other options I should consider first?

Post: Help analyzing a fourplex in Oklahoma city

Luis GonzalezPosted
  • Wholesaler
  • Oklahoma City, OK
  • Posts 31
  • Votes 10

Hi Rhett,

    Thanks for the reply, I don't really know much unfortunately other than it looks like it needs some repairs not sure how much until I can see the property.  Potential income is 2k/month if all units occupied. Asking price looks like it is a bit higher than market value but if it has a positive cash flow this should not matter right?

Post: Help analyzing a fourplex in Oklahoma city

Luis GonzalezPosted
  • Wholesaler
  • Oklahoma City, OK
  • Posts 31
  • Votes 10

Hi, 

    I am looking into a fourplex and I am hoping someone could help me in analyzing the deal and how I can structure it with a hard money lender. What are some of the more common things to factor in on a fourplex to see if it has a potential cashflow. Also, I am thinking of going through a hard money lender to get funding for the deal, is deals a good option? if so, what kind of loan would be better a regular loan or interest only loan or is there another option? Sorry for all the questions I am dead set on getting my first property but want to make sure I don't miss anything. Any tips are greatly appreciated, guys.

Post: Low credit score.

Luis GonzalezPosted
  • Wholesaler
  • Oklahoma City, OK
  • Posts 31
  • Votes 10
Mark Elliott wow, great info I didn't know they would erase anything that doesn't get replied on. I am definitely doing this and hopefully I can take some stuff off. Thanks.

Post: Craigslist Scam

Luis GonzalezPosted
  • Wholesaler
  • Oklahoma City, OK
  • Posts 31
  • Votes 10
I haven't seen this but it caught my attention. I'm just curious what do they get out of posting your property for less?

Post: How to buy a rental using a HML then refi with a bank

Luis GonzalezPosted
  • Wholesaler
  • Oklahoma City, OK
  • Posts 31
  • Votes 10
Hi, I'm curious if anyone could help me figure out the process on using a hard money loan here in Oklahoma City to purchase a rental property and then refinance with a bank to pay back the hard money loaner. Is there a specific time I need to wait before I can refinance, if I have absolutely no money to put it will a lender lend to me and do they loan for the rehab as well or just to purchase?

Post: Got a Wholessale deal, where can I find cash buyers in my area?

Luis GonzalezPosted
  • Wholesaler
  • Oklahoma City, OK
  • Posts 31
  • Votes 10

Hi everyone, 

    So I just got a deal and now I'm searching for cash buyers. I have posted on craigslist and sent it out to a few of the buyers I do have but I would like to be able to reach more. Where else could I go to or contact to find some more investors looking for a deal?

Post: Are HUD homes still a good market for wholesale deals?

Luis GonzalezPosted
  • Wholesaler
  • Oklahoma City, OK
  • Posts 31
  • Votes 10

Thanks everyone for the info, How would you go about if you are interested in a property? 

Post: Are HUD homes still a good market for wholesale deals?

Luis GonzalezPosted
  • Wholesaler
  • Oklahoma City, OK
  • Posts 31
  • Votes 10

From what I have heard, 2011-2012 was a good time to buy Hud homes and they were a good market to find wholesale deals. Is this still a good option to look into now that the market is improving?

Post: Hello Bigger Pockets Community!!

Luis GonzalezPosted
  • Wholesaler
  • Oklahoma City, OK
  • Posts 31
  • Votes 10

Sara,

     Thanks so much. Yes it is very hard work and its something I look forward to. I am looking into the local meet ups and I hope I can attend one soon.