All Forum Posts by: Yadira Gutierrez

Hello REI Community,

I am educating myself obsessively!

I am close to a make decision on the best strategy for my first venture. However, I am missing the networking part. 

Just so you can have a laugh on me here it goes:

After some hesitation I finally attended a REIA meeting...I was eager to attend and learn from the PROS, so there I go looking very professional with all my questions and NO FEAR. I started to ask questions and then BOOM, they starting asking for my business card and what kind of investments I do? I almost collapsed, I did not think about that! You should have seen me, I deflated like a balloon. I laugh out loud now of course!

I was so into asking good questions, absorb information like a sponge, and give a good impression that I missed that important part...who's going to take me seriously if I can provide a possible contact with something as basic as a business card? I will NOT go again without one!

Hence the reason of this long  story and post.

How should I present myself? What should I say that is not a lie but that would not discourage experienced REI people to add me to their network? How do I show them how serious I am about REI despite my lack of experience?

What kind of information should I put on a business card? Should I put my current 9-5 position and something else related to REI?

Thank you in  advanced for your thoughts and input...

Yadira

Would be great to have your 2 cents on this one  @Brandon Turner

@Julian Green Best of luck, keep us posted!

@Billy Au-Yeung I am considering a HELOC to invest on a 2nd property, hopefully enough for the 20% and other fees. However, I need guidance about the qualification process with a bank for the 2nd property; assuming I cannot get private funding. I am happy to discuss on a forum or privately.

Thanks!

Yadira

Hi,

I am thankful to BP for providing the platform for the REI community to connect, to learn, to share our experiences (good and bad), to vent out, to debate, to brainstorm and solve problems, to get the most needed help when things are not looking so good, to agree to disagree respectfully, and to celebrate our success stories.

For giving like-minded people the opportunity to create long-lasting business relationships and possible ever-lasting friendships.

Did I mention the education? A huge PLUS hands down.

The list goes on and on...

Thank you @Brandon Turner and

@Joshua Dorkin for a job well done!

Warm Regards to the REI Community,

Yadira

PS: @Wendell De Guzman Amazing, my request is on its way :)

New to BP...and having a blast!

People, I need your priceless advice/guidance on a couple of topics. Very basic stuff that YOU know and I dont :)

1. I bought my house with an FHA originally at 6%. Current market value around 200k to 210k. Owe 135K. I recently did a streamlined refi to lower the interest/payment (no cash-out). I think I am at 4.75% now. Question: is the loan still considered FHA after the refi?

2. I did the math for a HELOC and I got a max of 25k; is that an accurate number? If so, would it be the same number for a cash-out refi?

3. I need to move to another county due to a job related relocation. However, I would like to keep the property. I read that HUD have exceptions to acquire a 2nd FHA in those cases. Yes, I can prove that I must relocate. Does anybody know if Fannie Mae Home Path have the same exceptions? Please note that relocation is within the same State but to another county.

4.  How the financing qualifications for that 2nd property works? Would the rent of the 1st property count  towards income for qualification purposes? Equity? Or, would I have to earn enough money (salary) to qualify for both? I am confused as I read that people get cash-out refis or HELOCs to buy more and more properties on average salaries.

Thanks in advanced for your 2 cents. You are the best!

Yadira