All Forum Posts by: Reynaldo C.

I'm located in Palmdale and I'm also interested in meeting people and general networking.  If you guys can't find a decent group meeting nearby perhaps the best thing would be to start one. If there's enough interest in the area I wouldn't be averse to organizing a meetup myself.

@Bill Gulley thanks for the input.

I might have misunderstood, but why would there be a problem if the original mortgage is paid in full?

Hey Aaron, thanks for the reply.

In response to your question, the reason is that i would like to do a cash out refinance so i can use that money to fund another investment; furthermore, i'm certain i can get a lower interest rate than that of the current mortgage.

Also, thanks for pointing out that it would Not be a purchase money loan. i completely overlooked that. 

i would still consider it. 

but,

What other ways are there to tap into the equity of a sub2 property???

Hello all,

I have a question regarding a subject to.

If one were to acquire the title of a house on a sub2 and the property had substantial equity, of course it would make sense to flip; however, i am looking to hold this property. the question is: How do u take care of the mortgage that is in the sellers name? what i mean by this is, if u are already making the the payments on the sellers mortgage and you are the title owner, but you want to remove them from the mortgage (so their credit won't be affected), do u take out a New mortgage on the property under your name and pay the first mortgage with it??

Note. property is in Los Angeles

Hello All,

I'm Reynaldo from Palmdale CA. New to investing and to BiggerPockets. I made my profile hoping I can learn what I need to learn to be successful at real estate investing, as well as to make some connections. 

For  the last couple of weeks I have been ingesting all the information I can get my hands on. I plan on getting my real estate license soon as well. I am currently developing a business plan for my real estate investing so I can have a clear route to success. 

My experience is minimal, but I have a high drive and I'm willing to work hard to reach my goals. 

If you have anything you would like to know about me, feel free to ask away.