All Forum Posts by: Maria Luna

Hello guys!!!

Question for lenders,

What are the requirements to refinance a rental property? I only owe $30k on it and would like to refinance for a better interest rate as my credit is perfect now and was not when I first bought it in 2004.

I have only been at my current job for one year as an independent contractor hair stylist and don’t have two year work history since I took a long break for personal reasons. Can I still do it or do I have to have the two year work history?

@Vincent Greco

Yes I seen those crazy HOA fees in Miami. I'm just exploring my options at the moment, but for sure I'm going to check out the areas you mentioned.

Omg yes I have been obsessing with the Natiivo building since I learned about it. I think it’s such great concept for the investors who do Airbnb. I got my eye on it and we should see.

I appreciate your advice.

@Tyler Gibson

Yes working on the plan now to see what’s best for my situation.

I’m new to Orlando, only been here for a year but I have studying the market and hopefully I can find me a nice little duplex around here. What cities do you recommend near me? And thank you for your advice.

@Matthew Irish-Jones

That’s exactly what I’m trying to do, use the equity it took me so long to build in that house to make more money. Thank you for the advice!

Hello guys!!

Just looking for advice on what to do.

I have a sf investment property in Washington state that it’s paid off. It rents for $1500 per month and it’s worth around $330,000. After property taxes, insurance and reserves for maintenance and repairs, I get to keep about $1000 per month. (I self manage)

I currently live in Orlando and looking to buy some more investment properties sometime next year after I reach my two year work history. I’m thinking to pull some of the equity of my Washington house to invest in Orlando. Maybe $150,000 and use it as 20% down pmt on three condos or small sf OR maybe a apartment building. I have also looked into the possibility of a more luxurious condo in brickell downtown Miami for posible Airbnb or rental. ( long term goal for me is to move to brickell)

Just want to hear what would you experience investors would do in my situation??? Having a paid off house gets me piece of mind but I also want to keep investing to accelerate my freedom from my job.

Hello beautiful people!!

I need your advice here’

My husband and I are looking to buy a property that will be use as primary residence for a year or so, then use as rental after that.

With this crazy overpriced market should we buy now or wait for things to cool down some?

We are currently renting and our lease is up in July, we don’t want to keep renting after that. What would you do?

@Nicholas L.

By renting we just making somebody else rich!! Not what I want to be doing.

@Ryan Haro ah ok. Yes he has the VA eligibility certificate already. It shows a "$36k available entitlement"

@Ryan Haro

We have not, but that’s the next step we are planing on taking.

I'm a bit confused with the VA loans. So however much his VA certificate is for, is that how much we can get a mortgage from? Or does it still depend on the lender/bank?

Hi guys,

Need some advice please help!!!

Current situation:

Husband makes $15 an hour and works full time. I’m an independent contractor hair stylist. I took a 3 year break in my career for personal reasons and got back to it last year but with the pandemic, I only have about 6 months of work history for last year.

Savings $150k

Income from one rental $700 per month after all expenses.

Zero debt and both have good credit.

We are currently renting since we just relocated to Florida. No kids at home and husband is Army veteran. I make about $4000 per month as an independent contractor.

Issue:

No bank it’s gonna give us a mortgage big enough to buy anything decent in my area since husband’s income is not enough and I can’t use mines cause I don’t have the two year work history yet. I know one option is to just wait for me to have two years of work history..... but I refuse to sign another lease. Paying somebody’s else’s mortgage hurts my heart.

What would you do? Should we use the savings to buy something? Pleas help!!