All Forum Posts by: Manny Martinez

@Corby Goade i deff understand a home equity loan and line of credit and would actually RATHER do then then the cash out refinance because sooner or later the Pmi will go away and my monthly payment will drop And I will keep my 3.75 rate but I will be paying more money with the holc because it’s still at a higher intrest rate then the cash out refinance 

@Corby Goade a home equity loan is almost at 6 % for the same amount of money payments are 430$ a month and it wouldn’t be getting rid of the fha loan

@Damon Bodine do you know approx what that Rates are? I called a broker who gave me a rate of 5.5 mcu bank gave me a rate of 4.6

@Damon Bodine I never heard of it will look it up thanks

@Robert Ware the cost on the new loan would be 200$ more then the loan now but I would free up 80k to invest in another property

So long story short I purchased a 2 family in nyc in 2015 I owe 399 on it mortage is 2800 p/m but I bought it with fha loan so I am paying PMI. My realtor did a comp search and says the home is worth about 730 with the comps in the area, I spoke to a bank in regards to Cash out refinance and I can pull out 80k (which I will use to buy another property) my mortage will be 3k per month...my only issue is that my interest rate is 3.75 on my current mortage and will be 4.6 on the refinance but will be getting rid of the fha loan. Sound like a good idea or would you guys recommend doing a home equity loan and leaving the rate and payments

Do you have any listings? Or any specific places in Cleveland you recommend to start my search @Tom Ott

@Raul R. where in NC have you invested in ? a friend of mine does nothing but invest in Charleston but everything I see is too expensive...I’ll check out the Phoenix market thank you 

Im pretty new to the real estate investment game, im a licensed contractor in nyc and actually closing on my first flip next month, i also have a duplex in bought in 2015 which was a great investment paid 450k and its appraised at 650 just a short while later and postive 1200 cahsflow per month. Now with nyc real estate the way it is you have buildings, 6 families for 3,000,000 and only 3% cap i need to look out of state. I have read look at markets where you have family or friends but my entire family and friends all live in NYC.

I also have read look into markets such as memphis and OH. i was wondering where you guys are investing for 4plex or above or if you guys have any guidance for someone in the 500k budget, and if there are any brokers that have any good listings oos feel free to contact me . thanks again everyone

Im pretty new to the real estate investment game, im a licensed contractor in nyc and actually closing on my first flip next month, i also have a duplex in bought in 2015 which was a great investment paid 450k and its appraised at 650 just a short while later and postive 1200 cahsflow per month. Now with nyc real estate the way it is you have buildings, 6 families for 3,000,000 and only 3% cap i need to look out of state. I have read look at markets where you have family or friends but my entire family and friends all live in NYC. 

I also have read look into markets such as memphis and OH. i was wondering where you guys are investing for 4plex or above or if you guys have any guidance for someone in the 500k budget, and if there are any brokers that have any good listings oos feel free to contact me . thanks again everyone