All Forum Posts by: Theodore Rivera

@Gerard Scranton Welcome to BP! Here are some tips in moving forward with your request. From a lender perspective, I would be asking your level of experience with regards to building a SFH. Have you put a team together for the build out? Do you have building experience? Do you have a contractor in your pocket that has the experience? Is this buildout for homestead use or is this for resale? Do you know your numbers? Lot cost, buildout cost, holding costs, buying and selling costs, selling price etc?

@Gearold White Welcome to Bigger Pockets! You more than likely have a leg up on most newbie investors simply due to the nature of your business. If I can give you one piece of advice, verify, verify, verify. Take the extra step and verify. Best of luck!

@Joe Tan I consistently use Zillow (Postlets) as my source for advertising. They in turn post to several other sites like Trulia, Hotpads, and a few others. Keep your eyes and ears open to fraudsters regarding your posting. I had someone who took a portion of my listing and posted it on Facebook marketing and was attempting to scam folks. Two of the potential victims actually showed up at my property when I was showing the house to a legit client. Best of luck and good leasing. 

This will be over within a month. Market is strong in Houston and will continue to stay strong, regardless of the panic. I realize there are markets in several parts of the country were there seems to be a high level of panic. As Dr. Drew stated, (paraphrased) "it's the panic that will cause the greater damage than the virus itself, please stop talking about it".

Yes, I am and will continue to invest and have no intent to stop. Prices will not evolve, in fact prices will increase as we get closer to the peak mid year market. 

You don't simply run when someone yells "Fire". You assess the situation and determine the course of action. Thus far, the Corona virus is hype. It's just a paper fire and we have people bolting and acting foolishly.  

@Michael Plaks is PayPal the only service provider besides credit cards for electronic payment? Looks like Zelle also falls under no business use as well. 

@Tony Lin Thanks!

Thanks! @Ryan Tiller

Reaching out to anyone who can recommend a bank, credit union or financial institution who will be able to provide a commercial equity line of credit on an investment property in California. Looking for good rates, low fees, auto renewals with low fees, interest only payments if possible. Thank you in advance. 

@Ryan Tiller If you don't mind who did you close with and how long has it been since you closed?

My first thought is be very careful. You mention getting started in real estate, so I am assuming this would be your first deal.  Make sure your numbers are solid and that you prepare for a least two exit strategies. I heard someone recently state that "Murphy" is in every deal and after being in the business for some time now, I would agree. 

The % and the like is all up to the two of you.