Updated about 3 years ago on . Most recent reply
Im stuck i have a pretty hefty LOC nothing underwrites
The issue is find deals, but i also have to pay my LOC plus new mortgage so the number don't add up i keep going under water on the deals I underwrite. I pay the whole deal cash but i still have to pay like 16k month on interest for the LOC. So it takes my profit from the new building completely. IDK what to do can any one here give me a new strategy. Should i just wait it out for interest rates drop. I had found Property for 4 million bring in 420k gross NOI was 350k low expenses. The building made money but once i had to pay mortgage interest plus my interest on LOC i was just making it on 4 million dollar deal.