All Forum Posts by: Adam Williams

@Account Closed thank you very much! And I'll definitely check out the spreadsheet. 

I know this is a silly question, but I can't seem to find the answer. When getting a conventional loan, is it possible to go above the max LTV to include the closing costs?

Example: The property is valued at $200k and the max LTV is 75%, or in other words, $150k. If the closing costs are $5k, there is no way to include the closing costs in the loan so that the loan is $155k right?

Again, I know this is silly but I want to make sure I'm not missing something. Thanks!

I have one rental property and I'd like to get a HELOC to access the equity to buy my next property. I'm trying to find the highest CLTV for a HELOC on the property. Any recommendations? The property is in Utah and I'm in California. Thank you!

Thank you everyone! This has been helpful. I'm going to reach out to my current insurance provider (USAA) and start there.

I need to get landlord insurance to replace the home owners insurance I had when I was using the property as my primary residence. Do you have any recommendations? The property is in Utah.

Thanks.

@Ed Emmons it's the lot rent that concerns me. I ran some numbers and that eats away so much of the profit. I hadn't thought about doing a flip with them though. Have you flipped mobile homes?

 Mobile home parks

While searching for properties to consider, I came across a few mobile homes in the area that are pretty darn cheap.  Wondering if others have invested in mobile homes and what the advantages / disadvantages are? Also, would you recommend it? Thanks!

Thank you @Dave Foster! I'd love to take a look at any resources you have.

Thank you for your advice. I have not factored in the tax benefit of the depreciation in my calculations.

It has been appreciating nicely the last few years, which was my primary reason for holding onto it. But the market is slowing. So I don't expect massive appreciation or a rise in rents (in fact, I think the rent is near the cap). So I've made a decent return on the appreciation, but it seems that at this point, the money could be better invested elsewhere.

With everything that's going on in the market, where would you focus on looking for deals? Thanks!