All Forum Posts by: Mario J Perez

@Matthew Metros If you go the SFR route and BRRRR it, if for any reason your tenant leaves then you're out 100% of your income. Meaning that the mortgage payment is going to come out of your pocket. If you buy say a fourplex, and one of your tenant leaves, you're only out 25% of your income and you can still pay the mortgage. Another benefit of buying a multi-unit is that if you buy it cheap and BRRRR it, you can refinance and pull all of your money out, if done right. Hope this helps. What area are you looking to buy in? Out west in PR?

@Aaron T. since its a 7 unit, I would use the income approach. Or maybe use a mix of the sales/income approaches. For the income, get the NOI and capitalize it, and for the sales, look for recent sales of similar properties in the area.

Hi @Aaron T.,

How big is the property? You can do a sales comparison approach or an income approach.

Hope this helps.

Hi @Cesar Gomez,

There are plenty of properties to choose from!

Just look for one in a good area and BRRRR!

@Mindy Jensen

Exercising, Swimming, Scuba Diving.

Hello @Cesar Gomez,

Way to go! I'm an investor here in PR. If you need any help with your property let me know.

All the best,

Thanks John!

Amidst this pandemic, how do you think that the Fed’s interest rate cut affect mortgage rates?

How can we benefit of the Fed’s interest rate cut?

Are the loan approval requirements going down; will it be easier to qualify for a loan?

Saludos @Angel Dejesus,

I would like to know about those meeting in San Juan.

Thanks,

Mario

What areas are they looking in?

Look into FHA 203K loans. They have stringent requirements but only 3.5 down. No brainer.

https://www.biggerpockets.com/blog/fha-loan-pros-cons

Hope this helps