All Forum Posts by: Silvia Funez

@DeAnna Nieves

Thanks for the advice.

@Jonathan Taylor Smith

Thank you !

@Jonathan Taylor Smith

I have not yet purchased the house . I wanted to know first what will be a better option if purchasing the house myself cash or with a loan .

If I get a loan approved and purchase the house for 20k with the loan could the lender possible give me $60k for the reno? I will be in at 80k

@Jonathan Taylor Smith

When you say they don’t like the rehab cost to exceed the purchase price does that mean that if the purchase price is 20K they will only lend me another 20K? What if I purchase the home with my own money and just need a rehab loan? Could I get 100% of the rehab loan as long as it exceeds 100k?

Please help ! I am looking to purchase a property in Puerto Rico. Its a fixer upper who was abandoned about a decade ago . It has a big lot and is close to the coast . We are in the process of negotiating the price . I think we are going to end up purchasing it for 20,000.00

This will be our first real estate investment. My husband and I have never had a mortgage before . Our credit is in good standing . We have a car loan and a couple credit cards . What I would like to know is what is my best option of a loan to fix this house ? We have exactly 40k cash to start with , 20k will go to purchase the house . Should I use the other 20k towards paying for the renovation or towards paying the loan for the renovation? But also I don’t know which loan will be best to use? The plan is to rent this house as a vacation rental once is ready to get our money back . We are not wanting to sell this house again for now , we would like to keep it. So I understand it may be a slow return with the rentals so which type of loan or options do I have to not let interest take over ?

@Thomas S. where can I go to get a special made laminate top  for an island ? Will lowes , Home Depot or IKEA  do it ?

@Trent C Barnes thanks ! 

I don’t want to spend much , but for an island I thought I would have to do granite because I am thinking  it has to be cut out bigger than a standard counter top since  you have to extend it to be able to fit The barstools?

Do I have an option or an alternative to a granite countertop for a kitchen island ? What else can I use besides granite for a kitchen island ?

@Victor Ayala

What will be the first step if currently living in the US and want to buy a property in PR to make it into an Airbnb ? How do I find these properties ? Who do

I need to get in contact with ? I will

Be visiting the island to go check out these properties but I would like to get a head start . If I were to buy a house and get a mortgage is it the same process like in the US ?