All Forum Posts by: Anthony King

@Nick Webb rentcast .io (dot IO, not dot com) and rentometer .com are my favorites.

In addition to what others said. Put it all together and you can figure it out.

@Salima Bekkat-berkani Without seeing an example, the more you put down the higher the cash flow and lower your CoC. Put as little down as necessary to secure the loan.

@Lynne Burke does the home qualify for a vacation/second home mortgage? I bought my STR in a beach town with 10% down and rates comparable to a primary residence.

@Justice Staines If you enjoy owning and managing rentals then I would keep this property and make sure you keep rents up to market rate. At the same time, open up a HELOC for 75% LTV and use that money toward a down payment....on that Pensacola condo if that's what works for you. This is a very personal decision however, so only you can decide. I can only tell you what I would do from a financial standpoint.

@Justice Staines I'm pretty sure short term capital gains is if you sell within 1 year of purchase.

@Kosh Vokter I have done two deals simultaneously with two different lenders, as well as, two deals simultaneously with the same lender. I looked at each of them independent of eachother and went with the best product. Like others have mentioned, be upfront with all lenders so they can work that into their decision on Day 1, not the week before closing.

I currently own 7 investment properties (13 doors), all with conventional mortgages, and I planned to open a HELOC on one of them to use for more down payments. When I called PenFed they said they couldn't give me a HELOC because I have more than 4 total properties and said it is a Fannie/Freddie restriction. I never heard of that. What type of lender should I contact to get a HELOC on one of these investment properties in NY?

Also, any lender recommendations that would open a HELOC on my whole portfolio? I own small multi-families in NY, PA, and OH, if it matters.

Just looking for best options to tap into my nearly $500k of equity across all of these properties. Thanks for any help!

@Mark Aqua Since you laid out all the plan with specific number, I think it's a great idea.

@Emily Howlett do you recall what episode that was?

@Eric Bilderback what do you mean?