All Forum Posts by: Mark Nicholson

I'm in Anchorage, Alaska and have own a 4-plex I'm looking to BRRR. Looking for a lender that'll do a 80% LTV cash out refinance on an investment property. I purchased this 4-plex last year and did some rehab & remodeling work on it. The property has no lien on it, I purchased with cash and did renovations from my HELOC which sits at $124,000. New roof & high efficiency boiler within the last 3 yrs. Value to be around $400,000 with a monthly rental income of $4,250.

I know lenders that'll do 75% LTV, and before have read about and seeking 80% LTV cash out refinance. I. have excellent credit 800+ points with decent income.

Looking to put the cash from the refi towards a big apartment building.

Feel free to PM me with any information that'll work for me.

Thanks

-Mark

Nice job, just 5k investment, I like it!

 The 4-plex is in anchorage, found it as a off market deal. Going through & doing the remodeling myself. Have 2 units, & a laundry room remodeled now. Working on the other 2 units remodel. They’re all 2 bedroom 1 bath. 

Welcome aboard! There’s a ton of information to absorb here, which I hope gets you your first deal. 
Was great to meet up with Jamie and Chris, who are knowledgeable.  It’s my turn to buy the coffee next time!
I just got into my first deal a couple months ago, a 4-plex to BRRR. So I'm looking to grow a nice portfolio as well.

Are you wanting to invest in real estate?

If so, why not learn how to invest right now.. Instead of investing (sounds like a decade or so from now?). Go for a FHA loan on a owner occupied duplex or 4 Plex that isn't costing you money, or actually making money. Top it off with some appreciation, interest write off, and no capital gains tax after owner occupied for 2 yrs.

Find some bargains and put some sweat equity into it, that’s another income on its own, tax free.

When your ready to buy your rentals use some leverage instead of waiting to buy properties when you can own them free & clear. Less cash invested, tax write offs, and be able to own more doors.

Making a good quality of life for your kids is the best investment.

@Eamonn McElroy

Yes.

I have a CPA, and have been an LLC taxes as an S Corp for the last 4 years.

What saving money on the self employment side? My wife and I have an LLC taxed as an S Corp, which we are not subject to federal self employment tax after we pay my salary.

https://www.upcounsel.com/llc-taxed-as-s-corp