All Forum Posts by: Will Cruz

 Client's name. Thank you Ill try them as well.

 Can you please send me the info as well? 

who?

Does anyone know of a Bank that is willing to do a HELOC on an investment property? I have a client that lives in Hawaii but owns a property in DC area. He owes 650k house is worth about 1.4M, however, he only needs 300k. Client rents that house and makes 1k monthly profit, plus has a really good paying job. No DTI issues. Any help is greatly appreciated.

 What is everyone's opinion in where the market is heading for the rest of this year? I own two homes in Hawaii and not sure whether to sell or keep long term. 500k total equity.

Looking for Mortgage lender in Tampa 

Thank you Cydney. I am currently looking for someone to do a HELOC on new ADU to purchase another one. Do you know of any lenders in FL?

Brian,

Thank you for your thorough response as you are correct. I will be keeping both Single families with ADU's and save for my next down payment. I am currently an IT and make about 140k and an active real estate agent both here in Hawaii and in Florida. I need to motivate myself again and start grinding in real estate to save and build the next down payment. I close on it the 25th of May, which is next week and will keep you posted in a few months. Thanks again for the input which has made me reflect on what is the best choice to make. At 36 years old its easy to get distracted. lol

I recently own a Single family built in 2020 that is 4bed 3.5 bath between Ewa Beach and Kapolei which I owe 770k and is worth 1.250M. I also went under contract on yet another Single family with ADU back Jan2023 and is now complete and ready to be moved into which I bought for 1.1M and is worth 1.250M. I currently rent out the 1st ADU for $2100 and the front of the house can be rented out for $4100 for a total of $6200. My payment is $3375 at 2.25% interest which leaves me a net profit of $2825. The new SF ADU will also be rented out for $2100 which my payment on that is $5450 at 5.25% interest and I will move to the front of it for now (When I move out i can rent the front of that one for $4100 for a total of 6200 minus the mortgage which is $750 dollars profit but Brand New. I have a duplex in VA beach which I net 1000k a month. My question is should I sell the new ADU and use funds as down payment for the new home or should I stay here another year and just save up for a down payment to use on the new home and keep both SF/ADU's? Is the $750 worth keeping?

I recently own a Single family built in 2020 that is 4bed 3.5 bath between Ewa Beach and Kapolei which I owe 770k and is worth 1.250M. I also went under contract on yet another Single family with ADU back Jan2023 and is now complete and ready to be moved into which I bought for 1.1M and is worth 1.250M. I currently rent out the 1st ADU for $2100 and the front of the house can be rented out for $4100 for a total of $6200. My payment is $3375 at 2.25% interest which leaves me a net profit of $2825. The new SF ADU will also be rented out for $2100 which my payment on that is $5450 at 5.25% interest and I will move to the front of it for now (When I move out i can rent the front of that one for $4100 for a total of 6200 minus the mortgage which is $750 dollars profit but Brand New. I have a duplex in VA beach which I net 1000k a month. My question is should I sell the new ADU and use funds as down payment for the new home or should I stay here another year and just save up for a down payment to use on the new home and keep both SF/ADU's? Is the $750 worth keeping?