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All Forum Posts by: Donna Ballast

Donna Ballast has started 1 posts and replied 2 times.

Post: Hello from AustinTexas

Donna BallastPosted
  • Real Estate Investor
  • Austin, TX
  • Posts 2
  • Votes 0

Thanks

I started buying rentals in Austin in 1978. By 1984 I had 10 and then after a divorce, I had 5 :roll:. Married again in 1996 and we bought a few over time.

Then in 2002 we did our first 1031 exchange…sold one and used the proceeds as the down payment and 13 others. Repeated the 1031 exchange scenario in 2004.

My husband is my only business partner, and that works well for us. We do our own property management and remodeling, using subs as needed or required by code.

We each have “regular jobs” and have always considered the rentals and a “hobby that has gotten out of hand”. The “regular jobs” have always made getting financing easy but the sub-prime meltdown has changed all that. Hence, that is why I am spending more time on the net and less time on a job site.

Post: Hello from AustinTexas

Donna BallastPosted
  • Real Estate Investor
  • Austin, TX
  • Posts 2
  • Votes 0

I buy, remodel and hold SFHs in Austin. Current inventory is 40 with 20 or so having mortgages. Looking for cash-out refi, 70-75% LTV, 30 year fixed with less than hard money rates and terms.

Credit is excellent but the "not more than 4 or not more than 10" rules have me collecting rents and watching TV.

Ideas would be appreciated.