All Forum Posts by: Walter Purdy

Thx for the mention @Michael Coxen 

@Steven Carter Yes that is a good strategy used by many investors, the way Id recommend doing it is by a cash out refinance for the 20% down,  which can be a 30 yr fixed if you like. The cash out refi & the purchase mortgage could be standard conventional mortgage for both properties, If you have more questions feel free to DM me 

still need help with this? lets talk

@Antonio Aguilar You'll need 20% down  & many Vegas condos are hard to finance due to them being under builder litigation . If you're looking for great agents out here just ask, Im connected with all the right ones you'd need 

@Cesar Vega How long are you in town for? I have networking event going on at the Bellagio next Thursday if you'll still be in town

@Ian Scott Welcome to BP my friend, if you're looking to build more connections out here im doing a networking event at the Bellagio on January 12th, you're welcome to come & i'll introduce you to some local BP guys. Just PM me & i'll send you the details. Also im happy to answer any of your questions regarding financing, I know how difficult that can be to understand at the begining

@ROY NAGAL you can find mortgage lenders like me by simply posting on BP like you just did.  To answer your question, licensed RMLO's have to be compliant with Dodd Frank to keep their license.  I do equity lending on commercial & land but my main focus is residential mortgages. We are used at the beginning of the transaction to verify the investors income & credit & provide financing if their eligible. You dont have to work with a local lender either, my banks licensed in all 50 states so ive helped people from BP no matter where they're located. To check rates & fees, i have a website that gives you side by side comparisons to other banks fees & rates cause we guarantee to have the lowest ones, hence the name Guaranteed Rate. Hope this helped, feel free to reach out to me if you have more questions

Hard money is typically private money so that will still be decided between you & the person acting as the lender. Hard money also already has much higher rates then conventional bank money, it still can be useful though if used wisely.

If you haven't heard already, the federal reserve raised rates yesterday by 25 basis points & they are projecting to do 3 more rate increases in 2017. If you're an investor with a HELOC out, this is the time to roll that into a fixed rate mortgage to avoid paying dearly with every increase they implement. If you're a realtor this is a great opportunity to encourage your clients to make a decision on wanting to sell their home & move into a new one while rates are still appealing. If you'd like to know more on how to best handle the increases reach out to me. My office is in Summerlin area of Vegas but i provide funding all over US through my website.

@David Gephart welcome to BP. I host networking events here monthly so feel free to get in touch if you'd like to join them. Also happy to help answer your finance questions on investing

@Cassandra Worrell welcome to BP & the real estate investing world. The best tips you can get are going to be found right here on biggerpockets.com from the people you connect with & the guides located on the site. In fact if you haven't read it already & you're just starting out I'd recommend reading "the ultimate beginners guide to real estate investing" (link is at bottom). Its loaded with free quality content that will help you get a better idea on where to get started & of course feel free to reach out to me with your finance questions as that is where I can be the most help to you.

 https://www.biggerpockets.com/real-estate-investin...