All Forum Posts by: Santiago Marquez

This would def make for a unusual first time investment property story that most ppl have. I do agree with @Michael Plante earlier that a PL or HML usually will not take a look at the actual job/property site so long as the ARV numbers make sense to them & there's profit to be made. As for conventional banks & occupied tenants I believe it to be different in many states so your DD is necessary in that regard. Even though you do have the money to pad you for unknowns like @Terrell Garren mentioned these occupied non-paying tenants may not ever leave. Just pull-up YouTube to find scores of recent videos related to non-paying renter occupied tenants fighting w/their landlords for payment. That’s not to scare you. We all want to see you get this place @Jonathan Giglio .

Good luck to you & keep us posted 😎💪💵🇺🇸

Mahbubur sorry to hear your pain. I too am an investor near the Castle Hill, Bronx section. Probably not too far from you. I haven't been through evictions thank God & pray we never have to. But i agree w/what fellow investors on here have mentioned. You need proper screening my friend. At the VERY least you need to go to a local realtor office, get acquainted & find out what they do to screen prospective tenants. I have done this in the past & it has usually been satisfying even after I due my own DD. Never ever take the name from another person & if you do. Tell them to visit the lical realtor that you've worked w/previously as they will usually look out for your best interest(at least in the beginning). Don't do anything on your own when it comes to it. Realtors specialize in getting prospective tenants that are clean, honest, dependable rent payers & continued positve history to show. 

Not sure if you're aware of this office for help http://www.homeownerlandlord.o...

I've worked w/a man named Phil. Really good guy & knows his business well enough to help anyone out. 

Wish everyone all the best.

Santiago

Great work Danielle😍👍 What were the points, int rate or fees that your HML charged for your first time? Did you use the HML for the entire loan? No GAP funder?

Great work Michael 😁✌ on your buy & hold. Just looked up Huntsville, AL. Seems like a person can get plenty of house for their money. What's your sq footage there? Buy it cash or what type of loan you use? Have you had it reappraised since the money invested? 

Good idea in starting outside your home city. Plenty of better deals out there to be had at better pricepoints. 

Hey Dwight, hope all is well. Question, would a 3 bed/1 bath 780 sqft Germantown row home possibly ever rent for $1,500-? What could be the best rent for something w/those specs?

Great work Tess Thao. Hopefully the value in your neighborhood begin to trend upwards & your equity starts paying you back. Good start, keep it up!

I’m interested in the Velocity Banking strategy. I’ve been researching & studying it last couple of days. 

Only thing is I know everyone’s individual situation will be different because of this I was wondering if there is an app or calculator out there for ppl to utilize on there own. I sporadically make extra payments to my principal but I find I’d be more effective if I could plan out a 6-mos to 1-yr frequency to decide what’s right for me.

Someone know what I’m talking about? Any suggestions?  Pls reply.