All Forum Posts by: Vanessa Ivonne Hernandez

 Welcome to the journey! I don't have the capacity to take on a mentee but I'd love to help. I've been wanting to help new investors analyze properties so if you have a deal or two that you'd like to run the numbers on then let me know. It can be good practice for you and an opportunity for me to teach. Good luck and take care.

That's wonderful! Welcome! Have you started building your real estate team? Super helpful to start interviewing agents, lenders, contractors, etc so you can hit the ground running when you're ready to buy.

A great agent will help you find a deal and a great lender will build out the financial roadmap for your portfolio. I have interview questions I use, let me know if you want them. I'm in NJ and starting to invest in Ohio, and the questions have helped. 

 I love your story, I'll PM you.

At a surface level I wouldn't recommend a refi because of the market right now so I have questions:

1. What are your long term goals for the property?

2. What are your long term goals for your portfolio?

3. When does the current 5yr ARM end?

Your purchase power will vary depending on how much you can afford. For example, I'm in North Jersey yet I decided to invest in Ohio because it was more affordable and worked with my specific income situation. I couldn't afford 5% down in NJ but I could afford 15% down in Ohio.

How much home you can afford, compared to how much money you need upfront, compared to the rental income you get will help you decided which market you want to enter. If you're ready to start building wealth then I recommend getting in contact with a lender and finding the right realtor. 

Real estate activity picks up in the spring/summer with everyone ready to move during the warmer weather. Don't get stuck over analyzing - figure out your purchasing power and start to take action.

Good luck!

I have a borrower in the process of getting pre-approved.

They are eager to buy in Central Jersey - looking in Somerset and Middlesex County.

Their goal is to househack a multifamily property.

Lets connect to discuss if working together would be a good fit for my borrower.

They are ready to execute ASAP.

-V

I have a borrower in the process of getting pre-approved.

They are eager to buy in Central Jersey - looking in Somerset and Middlesex County.

Their goal is to househack a multifamily property.

Lets connect to discuss if working together would be a good fit for my borrower.

They are ready to execute ASAP.

-V

Have you gone to any REI meetups in your area to connect with other investors and find potential partners? Nothing beats a face to face interaction to make sure you and your partner are aligned in your vision.

What I like to do is find other real estate investors on the meetup app. You can search by your interests and location. I'm in Northern NJ and I found 3 groups on there. It's helped keep me immersed and focused on my real estate journey. Give the app a shot, it may help you make solid connections. Good luck!

DSCR loan is a great option to purchase an investment property without having to worry about the exiting debt from your first mortgage. Especially if you plan to build your portfolio because you can close under a LLC too. Really there are options you have available. It's best to talk with a lender, map out your real estate goals, and have them build a financial game plan for you to make sure you're set up with the right loan product to build wealth.

Happy hunting!