All Forum Posts by: Kevin Auyong

 No one really knows where the market is going. Your guess and rationale is just as good as anyone else’s. I do hear a lot of people saying that the market is in a big bubble and you should just wait for the prices to drop. The last time I was looking to buy a house people kept telling me wait till next year wait till next year. Well I waited those years and watch the house go from 275 and eventually bought in at 600,000 . So much for all those people that kept telling me wait till next year wait till next year. Listening to those people cost me $650,000 because I had bought two of those houses.

. So much for all those people that kept telling me wait till next year wait till next year. Listening to those people cost me $650,000 because I had bought two of those houses.

 Today each of those houses is worth just under $1 million. So really you can try to time the market and maybe you will do well or maybe you will fall farther behind. If you find a decent deal maybe it’s better just to grab it rather than try and save a few bucks could you think it might go down later 

Just wanted to add my two cents. You can’t count equity with the idea you can refinance any time. If you have a rental they will still look at debt to income. There’s more to it than just having the equity. I have 24 rentals with 4 mortgages at about 60 percent equity in them. I own 20 outright. I could not pull cash out of a fifth rental that I owned free and clear because my dti ratio was at the limit.

I live in Atlanta but want to refinance some rentals I have in Milwaukee.

Does anyone have a lender they can recommend?

Anyone know the costs and rates on a refinance?

I'd reconfirm the numbers to make sure. My question is if it needs no work and it's truly worth $280K, why is the bank letting it go for 215K? In this market they could easily get full price.

Maybe nothing , but with low rates it sounds like mortgages will be slow to process with the huge rush which might affect when you can close and lead to a longer hold time. Also it sounds like rates haven't gone down as much as gone up since banks are charging a higher spread.

In light of the virus, has there been any announcements about whether tenants can skip paying rent?

I'm wondering if there is a stay on evictions if renters will use this an excuse to simply not pay rent.

Anyone else have concerns?

Hey everyone. Over the weekend I had a break in on a rental where the door was kicked in and copper theft. Is there any kind of security system anyone uses while their rental is vacant?

Is replacement plumbing now going away from copper to PEX?

I had an incident where damages occurred due to criminal activity by the tenant and I am taking them to court. I need to get a police report. I have asked for one from the Police department but they are lagging as it's been over two months and I still haven't received one. Is there another way to get the report or put a priority on the report?