All Forum Posts by: Mateo Carrera

Welcome to the club bill

Welcome to BP. We started a little group in Joliet. No pitching. About 10-12 people getting together in a restaurant just to talk real estate and network with like minded people. Little out of your way. But I live in melrose and invest in Joliet. I’ll send u the details if ur interested.

See you guys there

Welcome to BP !!

do you mind me sharing the details I would have liked to know what the asset was. 

I live in Melrose Park.  It’s a good area to invest. But I have seen the prices soar. I have not found anything at a good price.  Lost of “ok “ deals. But if u can find the asset at a price that makes sense I say go for it. 

Yeah man thanks for actually taking the initiative I will update u closer to the date if I can make it. Might be in crest hill or Plainfield or aurora on that day. But thank you.

no problem glad I could help. Also shop around. Go to small local banks. Credit unions. They are way more flexible with their requirements because usually they don’t sell your loan. They hold it for the term. W that said. Most likely u will get a 5 year loan amortized at 15-20 year.

Sounds to me like the banker is not experienced in “creative financing” I’d say look for a better lender. But I think most are going to need 25% down. But if u do not want to put 25% down. Think about maybe putting one of your other rentals as collateral bringing the down payment to 0 or very little less. Depending on how much equity you have or the property has appreciated since u got it.

lol that’s a good one