All Forum Posts by: Adam Stroik

Greetings All,

I'm having an issue implementing a RUB system and am looking for some advice. we have told our tenants in our 4 unit bldg we would not be raising rents if they stayed on with us after their lease was up but that we would be implementing the RUBS. we have also recently installed a coin op laundry in the bldg. we recently had a tenant tell us it was unethical to bill the water back to them and then also make them pay for laundry. What are y'alls opinions and experiences.

Cheers

Adam

Greetings All,

I'm having an issue implementing a RUB system and am looking for some advice.  we have told our tenants in our 4 unit bldg we would not be raising rents if they stayed on with us after their lease was up but that we would be implementing the RUBS.  we have also recently installed a coin op laundry in the bldg.  we recently had a tenant tell us it was unethical to bill the water back to them and then also make them pay for laundry.  What are y'alls opinions and experiences.  

Cheers

Adam

Greetings All.  I am looking for bulk purchases in any level of multifamily housing, apartments, storage complexes  entire portfolios ect. in Wisconsin. $1 mil and up.  smaller considered.   PM me.

Im also looking in the arena and am curious about the ins and outs of the management side of owning storage units.

hey Patty, after all my research and from a few different posts on bigger pockets, I'm taking out a HELOC on both my properties. This way, the equity is basically acting like my bank. Better flexibility, many times better rates. And, as Brian stated above, with an ELOC, you only pay the interest on what you borrow instead of the full amount as in a cash out refi. Just my two cents. Good luck

Greetings BP!

I posted a previous question regarding using equity in a SFH rental I have in San Diego. Its worth 500k and I owe 220k. It is in a 15 year loan with 9 years left. previous question was let it ride or use that equity. overwhelming majority were in favor of using that equity.

now the question is, what are peoples opinions on using a equity loan vs HELOC vs cash out refi? at 80%LTV I can get 100K. 90% I'm at 165K. Even had a few interest only quotes to keep costs down...any thoughts? I've found a few HELOCs in the 4.5-5% range a few HELOCs I've found are variable rate (not a big fan). what are your thoughts? what are some terms y'all have found. anything else I should be considering? thanks

you guys are awesome and definitely gave me some stuff to think about.  it sounds like everyone is on the side of getting that money working.  THANKS ALL

HELOC instead of the refi. I've looked into that. I've gotten one quote from the bank that owns the mortgage. good APR but its $1000 processing fee then id have a minimum payment equal to 10% of the amount used per month. ($1500 per month on $150k loan.). is that pretty standard?

thanks for the reply Lee.

thanks Brent!

Greetings BP,

I currently have a SFH in San Diego with about $250K of equity. I have 9 years left on a 15 year note. its is cash flowing $100 per month. I know there are two sides of this argument. do I let it ride for 9 years and then get a huge bump in income or cash out refinance into a 30 year and get that equity working, hopefully increase my cash flow a bit. I'm hoping to hear opinions from both sides. thanks all