All Forum Posts by: Andrew R.

Hello, adding to this discussion, I worked up a ProForma for the Indio area and can't get it to Cash Flow. Would any local experts be willing to look at the attached and see if my numbers are accurate or way off? Thanks!

Hello! I would appreciate any recommendations to a property manager and/or real estate agent in Dayton that can help and experienced (but out of state) buyer. Thanks!

Hi, I'm considering refinancing 5 homes (currently with Sallie Mae fed mortgages) into a single private loan. If I want to sell just 1 of the homes in a few years, how does that work and can I do a 1031 exchange on just 1 property? Thanks! 

( I know you can't give me tax advise I'm just looking for general points on how the process works)

Yes still happy with Astro, I have them on 3 properties in Huntsville now. They use an appfolio portal. 

Been making a lot of calls lately, so far have found PenRed, TD Bank will do a HELOC on rental property but the rate and term is not great (6+% and 12 year term). Any other leads out there? Looking in Alabama, thanks!

Thanks all,

Yes I had been putting some $ into a reserve account, but I got overconfident when everything was going fine--I didn't expect to have several thousand dollar repairs at multiple properties in the same month. When it rains it pours I guess. Looking back over my annual numbers, my properties are still positive cashflow in the long run. I'm just annoyed that everything is going wrong at once and the stress is getting to me more than anything. Thanks for the feedback and tips. This is all part of the deal I suppose. Next term, I think i'll look into unloading a poor performer in 1-2 years. 

Thank you @Joe Hines, those are encouraging tips

and @Joe Villeneuve, I have most of my properties financed, 1 owned outright.  

Hi, I have several rentals that I've acquired over 2-3 years (many thanks to advice from BP). The past 2 months have been a maintenance nightmare, with most of my properties having repair issues, some major, and tanking my income and cashflow. Every email I get seems to be another service or repair issue. I'm reeling financially a bit and not sure how to proceed and work through all this---how do you do it when the hits just keep coming? Thanks. 

Hi, I'm looking for a lending institution that will do a HELOC or home-equity loan on a rental property (the property is 100% paid off currently).

I tried BBVA, PNC, and USBank and they only do equity loans on owner-occupied properties. Thanks for any leads. 

Yes I'd always get an inspection no matter if it's cash or loan. Appraisal is more up to you, if you're confident in your offer, save the fee and skip the appraisal.