All Forum Posts by: Andrew Giunta

 can you point me in the right direction of what these types of loans would look like? I don't see many types of 30 year fixed corporate loans when I type that in google. There seems to be stipulations , maybe im missing something here.

edit: Sorry I completely forgot to specify that the loans will not be more than probably 300k, which pushes me out of most of the ones with high minimums. 

Im not personally comfortable with variable loans, which is why I stick to the 3-4 unit properties. However, with 3-4 units getting rarer in the area I buy, and 2 units being too cheap and not worth me using a mortgage ( in the terms that it adds to how many I can have without creative financing), are there any other solutions to buying properties over 4 units that are fixed loans and not variable after x amount of years? The other option for me is buying cash and refinancing out with a fixed interest loan if they allow that on 5+ units. All the help is appreciated !

I am looking at an 8 unit abandoned building that is dirt cheap and it is completely boarded up. I would be fixing everything and then renting out the property. I read a while ago that there were tax benefits to restoring an unusable property to a state of use. What are those benefits? What major things can I write off and not write off when doing this? Thanks so much!

Hey Skylar, I appreciate it. I dont have the exact contract terms for the owner financing yet, but im looking at 

$229,500 offer, 

$114,750 downpayment

30 year fixed @ 5.65. 

No fees, points ect and the closing is done with his personal attorney. 

The bank total charges would be 238k

120k at closing 

30 fixed at 5.827%

The seller financing is a much better deal on the surface, im just worried about losing out on some protections I might get with the bank. 

According to my real estate agent, deals like the one I encountered are extremely rare and sought after, but im a bit worried its too good to be true. I made an offer on a house and because I am doing 50% financing, the owner offered to lend the other half himself and be paid over the next 30 years, at an interest rate lower than what the bank is offering (albeit, not much lower). I will save on a ton of costs from not going through the bank. I am worried though that with this private deal, the contract may end up being very tight and might screw me if I made a mistake. I really had no idea people would even do this, so im not sure what to do. Does anyone have any thoughts?

I know its situational but I would love to hear some anecdotal opinions. 

Is the income per month usually greater ?

I now own two homes that I paid for in cash. The first I bought for roughly 335k the second for 160k. Im 25 and I sold a company which I used to move about half the money I have into starting a real estate. I also own my primary home outright and I like not having debt. Im relatively risk averse, which is why I paid cash instead of mortgaging but I also wanted the ease of taking the income as my main income. Its not a huge income (around 8% cap) so im thinking about refinancing out the first house and using that money to mortgage more houses. In terms of living on the income my real estate generates (I have a job but not a very secure or reliable income job), would I be better off staying with the properties paid off or looking for similar good deals and mortgaging them ? Im assuming the homes I buy will have 8% ish cap rates. Thanks!

I could be wrong because the US tax code is very confusing, but how much do certain expenses like property tax, or property management fees matter if you can write them off? Im not sure if there is some sort of cap, but if Im using an LLC with my properties inside it, there seems to be a ton I can write off. If im doing it right, what percentage (roughly) of the income a house generates should I be able to write off?

Im actually looking at Allentown PA and the Lehigh Valley area as well as possibly Albany, but I have to do the calculations on things to see what makes sense. The biggest problem is everyone is trying to get a house before the rates go up, so might need to wait for that to cool down. Ill buy a property that is expensive as long as the return is good, but I wont buy a property that is overpriced.