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All Forum Posts by: Adam Sankowski

Adam Sankowski has started 30 posts and replied 185 times.

Post: Looking for PM help in Providence. Any recs?!?

Adam SankowskiPosted
  • Investor
  • Somerville, MA
  • Posts 191
  • Votes 204

Hey, I'm a real estate investor myself (not in Providence) but trying to help a friend of mine (who's not on BP or this might not have happened, ha) who's gotten himself into a bit of a situation with a tenant who won't leave his place in Providence RI.  Once he gets this tenant out its a 3, maybe 4 family property with great potential for cash flow.  He's up for paying a PM upfront for help with this eviction, as it will be a bit tricky, and then having them fully lease up and then manage the property. 

Any recommendations for good PM's in Providence or ones that have any experience with dealing with evictions/ interesting tenant situations?  :) Thanks so much for your time and any help or direction is appreciated! 

Quote from @Jay Hurst:
Quote from @Adam Sankowski:

Hi!  Has anyone out there ever used a loan against a stock portfolio or a margin loan to finance real estate?  (I want to finance a rehab)... 

I'd love to hear from someone who has done this!  Everything I look up makes them seem like a solid option but its hard to figure out who to go through for them.  Seems like you need a "wealth management" advisor to get one through Merrill or JP or Schwab (something I'd like to avoid!)

Any margin call or stock loan horror stories?  Any recommendations for companies that anyone has used?  Thanks so much for any advice!  

 @Adam Sankowski    Yes, M1 finance ( https://m1.com/ ) will allow to take a margin loan for anything up to 40% of your portfolio, with no min. (of course without a decent portfolio at 40% not much available) but the point is you do not have to enough to be a  private wealth client.  Current rate is 5.75% but that is based on prime so will continue to go as the fed hikes the feds funds rate. 


 Thanks for that suggestion!  The problem with M1 is that they don't do any options and I do a covered call strategy for cash flow so I need it to be in a brokerage account that offers options :(  I saw that with M1 but I'm not gonna give up my options $ right now!   I have fidelity but their margin loan rates are like 10-11%... 

Hi!  Has anyone out there ever used a loan against a stock portfolio or a margin loan to finance real estate?  (I want to finance a rehab)... 

I'd love to hear from someone who has done this!  Everything I look up makes them seem like a solid option but its hard to figure out who to go through for them.  Seems like you need a "wealth management" advisor to get one through Merrill or JP or Schwab (something I'd like to avoid!)

Any margin call or stock loan horror stories?  Any recommendations for companies that anyone has used?  Thanks so much for any advice!  

Hey wow thanks everyone!  As always, BP comes through with excellent advice.  I soooo appreciate it everyone!!!

Hey I'm looking for any creative renovation financing products out there. Seems like there are always new and interesting ones popping up so I figured that I'd see what's available. Here is what I have going on:

Have a two family w/ an Airbnb in it and I can now build another rental building behind it. Already in the process of getting the zoning for this and this is an  A+ location in a major city.

Tons of equity in the property, the problem is showing income in order to get it out. We also own 11 out of state 1-2 family investment properties so lot of debt already on the credit report even though it all cash flows well.  My wife and I both have W-2 jobs but we don't make a ton because of all of the investment success we have started to work a lot less. 

WIth my "lots of cashflow not a lot of income" issue I had a lot of success with DSCR type loans (where the loan is calculated by the income the property makes not by my own income) for my investment properties over the last few years.

Does anyone have a DSCR HELCO type thing or something for a rehab project to build something that is going to cash flow even more? I know that this is a long long long shot but wanted to throw it out there and see if I learn anything new :) Thanks so much for your time! Also let me know if I'm posting in the wrong forum?

Post: A/C Cage contractors Help

Adam SankowskiPosted
  • Investor
  • Somerville, MA
  • Posts 191
  • Votes 204

These folks do all of mine and are THE BEST! 

https://circlecitymetalworks.c...

Post: Tax success in jackson county

Adam SankowskiPosted
  • Investor
  • Somerville, MA
  • Posts 191
  • Votes 204

Hey BP I had some recent success and just wanted to share,  I just challenged a recent property tax increase in Jackson county and actually “won”! They agreed with my argument and decreased the property value by 40k! 

I did have some photos to show that it was a well loved rental and not a new flip, and some rough numbers but ultimately I asked them to cut me some slack with COVID and they did!   Basically this is a lower rent lifer tenant in an area which has seen crazy appreciation and suddenly my taxes shot way up. 

The process was super easy, all online, although I had numbers and pictures, ultimately I gave them a bit of an emotional appeal (all true though) and they  lowered the accessed value by 40k! 

I just share this for any property owners dealing with big tax bump ups I highly recommend you attempting a challenge! Jackson county seems to be pretty reasonable and open to debate :) 

Post: Is it a bad time to buy a home now?

Adam SankowskiPosted
  • Investor
  • Somerville, MA
  • Posts 191
  • Votes 204

The only bad time to buy is anytime after asking this question- because you should have been making offers instead of asking if you should be buying... :) seriously though there is no good time and if your going to hold for any amount of time over a few years NOW is always the best time.  

Post: Is it a bad time to buy a home now?

Adam SankowskiPosted
  • Investor
  • Somerville, MA
  • Posts 191
  • Votes 204

All I can say is that I bought in Somerville in 2013 and it seemed like prices were crazy and could never go higher... now after 8 years of our 2 family appreciating well over 100%... in Boston it’s never going to be a good time to buy and the market will never cool off so jump in! And yes, if your dropping over 100k on a down payment you should make sure that the numbers work so that you don’t have to sell for 10-15 years.

Prices aren’t dropping that much though. If they go down even 5-10% there are 20 more people per each house ready to jump in. Also the fed has promised to keep interest rates low for the next few years and that will keep people buying.

And yes if you buying just a single family it’s not really an investment but if you’re house hacking a single family with an Airbnb in the basement or a 2+ family house then it’s absolutely the best investment you can make in your lifetime 

Post: Lender recommendation for weird financial situation

Adam SankowskiPosted
  • Investor
  • Somerville, MA
  • Posts 191
  • Votes 204

@Nicholas Earls I wouldn’t totally give up on that traditional mortgage yet. I have a guy who is able to help out a bunch and helped me get a trad mortgage when a lot of lenders were like “sorry”. Might be worth a shot? PM me and I’ll introduce ya!