All Forum Posts by: Anthony Alexander

I just got wind of a 4 unit property that hasn't hit the market yet. I don't have the cash required, so I'd have to finance. I'm looking at what options I have to pull equity out of other rental properties I have.

Does anyone know of investor-friendly lenders that service the San Antonio / South Texas area and will allow home equity loans or HELOCs on rental properties? I'd rather not do an entire cash-out refi because I have a much better rate on the property than I could get today.

With a 70% LTV planning factor, I'd still have plenty of room for the cash I'm looking for to make the down payment (~125k).

Thanks for any help/advice!

Reviving an old post, but I'm curious as to what came of this. I'm not sure what city in Michigan this is, but it sounds like Detroit.

Thanks very much for all the answers

Thanks!

Hello,

I want to sell a SFR in a 1031 exchange to put towards a 12 unit CMFR and finance the rest. A conservative estimate for the value brought to the exchange is only about 150k after paying off the existing debt and sale closing costs. I'd like to do a 1031 to delay the 15% capital gains tax, even if it isn't that much in my situation. Is this enough value to warrant a 1031? Looking for validation before I reach out to a QI and get laughed at. Thanks for any help/advice.

There's an auction coming up here on the 7th and I'm researching some different properties to bid on.

On some of the notices of trustee's sale it lists a dollar amount in the top left corner, here's an example: http://www.nuecesco.com/Home/ShowDocument?id=21747

What is that amount for? Is it the starting bid or reserve price or maybe the outstanding mortgage balance? I know that neighborhood and have glanced at that property, I would say it's worth slightly less than that. 

Also, if I'm planning on using a hard money loan to acquire a property from this auction, is there some sort of proof of funds I can get from the lender that will satisfy their requirement? It says cash/cashiers check only. This will be my first auction and I'm unsure of how the process works.

Thanks for your time.

Anyone have any experience with a property very close to a community college? It has potential but I'm curious as to what the turnover rate is like if you rented it out to students. Since it's a community college maybe the students stay close by and work when the semester is over? Any thoughts appreciated.

Each unit is a 2/1. Fridge and stove, central air and heat. No washer/dryer hookups, dishwasher, or microwave.