All Forum Posts by: Robert Delgado

@Jeremiah Lewis Awesome. We have a ton of small lenders near me. I'm gonna make some calls. I haven't put an official contract on the property yet cause the lady is giving me until she moves to see what I want to do before they list it. I want to make sure I can get the financing before I go into a full blown commitment, the house does need quite a bit of work as well. I was thinking if I got a good enough deal I can fix it up decently and refinance to kick some cash back out and start rolling deals that way. Basically a BRRRR investment strategy.

@Jeremiah Lewis interesting so you just went through a small local bank? It makes sense cause I work Finance in the car business and when the loan to value is low enough banks will buy almost anything. I’ll look into it. Thanks for your input!

Thanks for the great Info everyone! Gonna have to probably go back to the drawing board and keep saving money until I get enough to put for a down payment plus closing costs. 

Hey Everyone! I found a great deal in my local area, pre listing of someone that is moving in a week. They are selling the home for 100k but I firmly belive the property will appraise for 150k or more of that creating alot of equity. I spoke with the a mortgage broker that is a friend of mine and he told me that I need 20% of the purchase price for a down payment and equity dosent matter. Is that true? Will a lender decline me if there is a ton of equity but Im not putting any money down? I dont quite have 20k to put down, but I thought the great equity could help me get cash down waived. Does anyone have any experince with this situation? Thanks!

Hey Everyone,

I am wondering if I am able to hire my own property manager that would work for my company? It seems that you have to go through a real estate agency, and have a licensed agent do it for you. I ask because I know someone personally that is currently a property manager of a complex and they do not have a real estate license. I  want to try to find someone to be an employee and handle the property management duties for me. I am located in Delaware by the way.

Thanks,

Tyler Delgado  

That makes sense thank you Om. I am also curious if this would also make the sponsor open to personal liability. 

Hi Everyone. Two friends and I are on the verge of starting a Real Estate Investing business. One of them has a large sum of money to use to buy houses and flip them so it seems that is where we are going to start. However we also want to buy some rental properties. The problem that we are having is we ant to start an LLC and we want to leverage financing for the rental properties. What i have seen online it is all but impossible to take a loan out as an LLC so what are some of our options? Thanks Everyone!

Thanks Hattie. Quick question though what is an REIA? I know some of the acronyms but not all of them.

Thanks Again.

Hello Everyone, 

My name is Tyler Delgado and I currently live in Seaford, Delaware, and I currently work as a Staff Accountant at a Property Management company. I stumbled upon Real Estate Investing while searching for ways to allocate my assets for retirement. From what I've read so far there are many different ways to make money through real estate, However I am currently most interested in the buy and hold approach and build my portfolio that way. I plan on purchasing my first rental property within the next year as well as staining my real estate license.  Any advice anyone has for will be greatly appreciated and I am excited to begin the learning process in order to get my real estate investing career started. 

Thanks Everyone, 

Ok thanks Mike. I'll have to check the website later today.