All Forum Posts by: Ramon Cervantes

My two cents.. I spoke with one representative of this company as we walked through one of their deals and he informed me of the 5k deposit. This is reasonable only if you really, really, REALLY want the property! Some of the rehab costs were too low (central ac 4k but did not account for duct work), needed a new roof (not included in their rehab estimates), etc. This didn't bother me much; I had a feeling their estimates favor them a little more and that's cool IF you already know a little about rehab costs, ARV, and the current market in that area. To their credit, the representative took note of the things we pointed out and agreed there could be room to negotiate.

The one thing that really bothered me is that if you deal with any other wholesale company they will shut the door and never deal with you ever again. 

Thank you for the responses. The WF was a blessing in disguise. I am now using New Penn Financial and was offered way better terms and a lower interest rate.

Thank ypu, I have gotten in touch with a local credit union and it seems promising 

Thank you very much for the response, I appreciate it!!

Wait..many people invest in real estate successfully using the equity in their personal homes. If not for it many of us would be out of the game and only more privliged people would benefit and make a living in such investment. I know there are risks involved but nonguts no glory!

Hi there! I am also a newbie and the best advice I can offer is to keep an eye on the market all over San Antonio, just to see what is selling and renting for how much. Drive around potential areas even if you aren't ready just yet. Imagine and dig for info, do mock deals on paper and become an investor before you are one. Best wishes!

Hello there, I moved from Midland to SA almost 3 yrs ago. have been in the furniture upholstery business 22 yrs and am also jumping into real estate investing. Great place here for that, good luck!

More info: My intentions are to use the equity in my personal house to invest in more real estate. WF was about to approve 80% but frankly I am tired of the hoops I'm jumping through. I can't believe the deal is falling apart just days from approval because of this one little thing. Thank you!

Hi there! Need direction.

After 2 months applying with Well Fargo for a cash-out refi  I have hit a wall. I am being denied, after jumping through all their hoops, because I am $1000 shy in my personal savings. 

Can anyone recommend a local bank/credit union that works with investors? I can go down the yellow pages but asking here may be easier and save me time. Thank you very much!!

That's awesome brother! I remember growing up hearing the word ambitious (in Spanish 'ambicioso') used as a bad word, and later in life at church taught to forego materialism. Now I've figured out those teachings extinguish the potential each one of us was born with. 

The money is not the goal but, like you said, to build something great wherein others will benefit as well.

Thanks for your words