All Forum Posts by: Ray Minjarez

Im looking to get pre approved with a lender in the San Antonio area. Any recommendations? I figure this is a good first step as a newbie. I want to know if I qualify and if I don’t, why.

Im looking to get pre approved with a lender in the San Antonio area. Any recommendations? I figure this is a good first step as a newbie. I want to know if I qualify and if I don’t, why.

so if i don't have money or somebody with money, i can't make offers on listed properties

What am I missing, besides money. How do I bring the hustle without proof of funds.

I just tried to submit my first offer and I’m trying to do the whole sale thing for now on a single family home in hopes that I can find somebody to partner with me to hold the property. Real estate agent told me that I need proof of funds. How do I make offers and get properties under contract without having proof of funds?

At what point would the FHA be denied as far as the condition? Where would they draw that line where they would say “no, it needs too much work”

will you be able to refinance and pull that equity?

Is it possible to get an FHA loan on a property that is under market value?

So let’s say I find a property that’s worth 150,000 after repair, I negotiate and put the property under contract for 90,000. I find a buyer who is willing to pay 105,000. I guess I’m a little confused as to how a wholesale transaction goes down. Is there a new contract put together that assures me that I get that 15,000 or how does the closing work and wholesaler get paid?

Nice, thats what i wanted to know. I think instead of starting off with a single family home for my first investment, I'm going for 4 unit. Thank you two!