All Forum Posts by: Luis Sanchez Rodriguez

Hey BP!

I don't know about y'all, but I am having a hard time getting approved for a HELOC/HELOAN for my investment property.

The #1 reason why I am getting denied is because banking institutions (the ones I've tried) are only doing these types of loans for primary residences.

Have you had any success on getting loans on your investment property(ties) without refinancing?

I'm trying to get my current rate (2.7%).

Hey folks!

I am reaching the point where I need to raise capital for a real estate deal I am working on.

I wanted to know what steps, processes, groups, etc. you used to help you get the money needed for your real estate deals.

Thank you guys for your inputs and feedback.

- Luis

@Frank Rolfe
Thank you so much for your insight and knowledge.

You're the man!

Hey BP folks,

Is there anyone here who has the experience of building a mobile home park from the ground up?

I'm working on a project that involves building such a park and I wanted get an idea of how much are the startup costs.

Thank you guys.
Looking forward to your feedback. 

Hey BP Members!

I'm hoping to connect with some investors in Orlando, FL
I would love to know when your REIA meetings are held.

Feel free to let me know your meeting details.

I look forward to connect with y'all.

@Paul Welden
I mixed up the numbers...A minimum of 210 days must have passed since you closed your original home loan when attempting to refinance.

However, you still have to occupy the home for at least a year when using FHA

My apologies.

Hi Michael,

In my opinion, you first need to decide what market you want to invest in. Many folks will say that you should start in your own backyard...you know the area, you have first glance of up and coming changes to the neighborhood, etc.

Secondly, you have a good amount saved but I would encourage you try not to use all that on a single property. Look into using the FHA loan to acquire your first property, house-hack the property for the minimum 210 days, and then reapply for the FHA loan to acquire another property.

I hope this makes sense. Don't hesitate to reach out if you're still confused.

Hey BP Folks!

I wanted to create a post to learn from your experiences when working with Contractors.
Can you share the Good, Bad, and the Ugly?

For those who used contracting services in Jacksonville, FL; I would love to know your experiences.

Thank you guys in advance for sharing your thoughts.

Hey BP folks,

I am currently beginning the process of the inspection period of a property I am interested in.

Long-story short...The lease agreements confirm a monthly income of $2.2K, however, the terms of the lease are week-to-week. Not Annual.

Would this be a Red Flag to you?
What would be your course of action moving forward with this information?