All Forum Posts by: Reyna V Ayala

Hi I want to purchase a 2 unit in Chicago but don't know I'd a conventional 97 loan will work if I put the house under an LLC at purchase.

How do you guys run your numbers including CapEX wjen looking st househacls and Flips?  

 i did consider the cosigner option but unfortunately the cosigner willing to sign with me has a low credit score. So that was a bust.

Neverless I did shop around and got a 180k approval from another lender. Who can help with down-payment assistance programs. 

I am co sidering 2 unit rehabs and I have heard about the 203k fha loan but not sure how it actually works or if my approval can go for that as well.  

the 2 to 5 yrs free of propert tax gains is a phenomenal idea 💡 definitely going to consider that when looking 

After reaching out to other lenders I ended up woth a 180k approval on a multifamily 

as some people have said here it's mainly D class properties in very unsafe areas..

even the duplexes and triplex are in need of rehabs.

someone mentioned a fha 203k. How would that work ? I found a property I think would be a great flip but definitely cannot use fha for it as it is not in livable condition...

 So there's 2 ways to use seller credits ? 

instead of buying down the intrest rate you apply to ur closing expense ? Can you say where to apply it lets say if you also apply for down-payment assistance. 

Primary residence. So it lowers the intrest paid on the mortgage for the first 2 year did I get that right ? 
 This is not affecting the closing cost or the total loan amount correct ? 

I'm trying To run numbers on the bigger pockets calculator. We want to offer 175k on the house and the realtor suggested 6 percent credits. But I'm not sure what that is. Does it buy down the mortgage to 164k? Or does it cover the closing cost and down payment. I'm unsure how to enter this in the calculator 

Hi I have a question I'm trying To understand the numbers when I run in the calculator. I'm trying to come up with the n o I and I keep getting 106 and the calculator on bigger pockets is giving me fifteen k. Not sure what I am doing wrong. Is this based on 1 year or the duration of the 30 year loan . I found the coc roi percentage already and it checked out with the calculator but the noi isn't even close...

Hi I have a question I'm trying To understand the numbers when I run in the calculator. I'm trying to come up with the n o I and I keep getting 106 and the calculator on bigger pockets is giving me fifteen k. Not sure what I am doing wrong. Is this based on 1 year or the duration of the 30 year loan 

Hi 👋 I am an aspiring RE investor In Chicago. Located in the bridgeport neighborhood.

Originally fot me REI for started with the idea of being able to enjoy things and not have to worry about the financial burden it would take. But the more I looked into REI, the more excited and passionate I got about it. And what I thought of a possible side hustle has now turned into a life style.

I'm looking for how to start investing in the next 3 to 6 months. I got pre aproved but am not sure what method to use. House Hacking. Brrrr. Flip n fix. Live in flip/house hack. As well as how to run the numbers instead of crossing my fingers and hoping it's a good buy.