All Forum Posts by: Richard Cisneros

I applied for a Heloc once got approved but last minute declined to sign they will only give my about $45k my home was under evaluated and the %85 the banks do didn't make sense and variable rate and as high as 7.5% with monthly payments...shoot at that time applied I had a fixed credit card and still do 6% fixed for 25k why would I let someone put a Lean on my home for that amount.

What I am trying to do is get some money to build a second home on my over 1 Acre Land so I can rent it out to pay for my low Mortgage as I am up there in age now 58yrs old.

So found this investor company that will give you 100% of what you owe on your Home vs what the Current Value is with NO MONTHLY PAYMENTS.  Here are some of the details:

Say you own a home that's
worth $250,000. You receive a 10% investment from Unison of $25,000 and
Unison gets to keep 40% of the appreciation. After seven years, you
sell your home for $350,000 which is a $100,000 appreciation.

At
that point, you’ll pay Unison $25,000 in principal return plus 40% of
$100,000, or $40,000. In total you would pay Unison $65,000. The
remaining $35,000 of appreciation profit is yours to keep.

All of
the equity you built up through mortgage payments is yours to keep as
well. So, for example, if you had paid your mortgage down by $30,000,
you'd walk away from the sale with a total of $65,000 in your pocket
($35,000 from appreciation + $30,000 from the equity you built by paying
down your mortgage).

So my Question is does anyone see this as a Red Flag or any concerns going this route to build my second house on my property?

Thanks in Advance.

Thanks Mike B. but looking for tax advise...something is wrong for this New Home owner....I will invest though in the future on this 1.3acre property and many others but still new to the game.

Hello,

First time home buyer always took standard deductions before i bought my first home, but I did a VA loan and paid over $8000 in VA funding fee 0 money down otherwise if you don't include fees for a $387k home in Rio Linda, Ca. Last year only one child 17yrs old single head of house hold got over $2000 back from the Fed. Government same work pay each year. Now child is 18yrs old still dependent full time student and lowered my Gross income from $76k to $58k by putting 18k in 401k i'm 53yrs old so doing catch up....I used turbo tax like i do each year and it says I will only get $600 back this year.....something is wrong I need a tax advisor or if this sounds normal please advise.....thanks in advance.

I have been a Moderator on a World Wide Motorcycle Forum before and I always encouraged new Members to Please Introduce yourself and so far from reading on this site it is no different here, so this is my first Post!!!

I am a 52yr old male work in the Electronics Communications field currently a Staff Engineer. I never looked to the Future for Retirement I was mostly concerned with just riding my motorcycles going to work to pay some bills and just ride like I have been doing for over 35yrs.

Well that almost came to an end last year when someone decided to run a Red Light Late I T-Boned a Truck on my motorcycle on my way to work and am lucky to be alive to type today.

To make a long story short I am getting a Settlement enough to buy a home cash if I want but looking to invest in Rental property to help supplement Retirement. I start Air Force National Guard Retirement Pay in 8yrs and hopefully if still available Social Security a few years later that's where Real Estate comes in I don't own a home 1 child 17yrs old, not married I need a Long Term Residence at least a 1/2 acre 3 car garage for tools I like to tinker with everything but I also would like space.

So after I get the first part of the plan done looking at Rental Investing I bought the book from Brandon Turner ( Rental Property Investing ) reading that now so combined with signing up to this forum I believe it will be a good start to my goals. Thanks for Reading.

Richard