All Forum Posts by: Benjamin Chadwick

Originally posted by @Matthew Barba:

@Benjamin Chadwick have you considered a first position heloc? You might be able to get interest only payments, which would maintain your cash flow and give you the ability to pull out up to 75% of the value as you need it. 

Matthew Barba

Can you get a HELOC on an investment property?

With interest rates rising how does it make sense when I can only get 70% Ltd out of banks ? Property value is 260k I owe 142k At 70% it’s like 38k our but mortgage goes up $345 a month cuts my cash flow from $1290 a month to 945$ a month? I guess it’s makes sense if I can replace my income with the new property? Any advice is welcomed.

What is everyone seeing for title costs and closing costs on refinancing a duplex?

Right now we own one duplex im about to cashout refi on and plan to either build or buy more rental property, plus our own single family home, ultimate goal is to get replacement passive income so my wife can quit her job.  Ideally we would like to continue get enough buy and holds to do this.  

We own everything together, 

Right now we just plan on doing rentals, so this would be for buy and holds.

Ill reach out to the David B. and see if i can set a meeting up with him.  That is a great recommendation.

Thank you for your recommendation Robert Leonard

My wife and i are forming a new Real Estate Business in Louisiana, What is the best way to set up our business with the federal govt and state govt. Should we do a single member LLC a multi member LLC or something else. If anyone has any advice on how we should structure anything. We would appreciate your help. Thanks everyone.

in 2013 i bought a duplex from a guy who had over 200 units.  I lived in one side and fixed them up as he was renting to section 8 tenants and the place was run down.  the area has since gentrified and i bought in the 150's and it now appraised at 260K its a cash flow monster with both sides rented out im getting $2600 a month in revenue and total profit after everything is $1253 a month.  

I want to get another property im looking for a four plex or a triplex, so i called the guy i bought the double from and asked if he wanted to get rid of anymore of his properties in his portfolio.  He said yea, he said he would give me some properties at 90% of market value and if i was interested would set me up with a lender he works with.  I am still new enough i dont know how to really analyze a deal.  Is 90% market value a good deal?  Does anyone have a good spread sheet or tips to help me analyze the deal he sends over?

I bout a duplex in 2013 that i fixed up and lived in one unit for a few years while renting out the other half, I got married and my wife and i bought a single family home for us. I paid 158K for the double, i owe 142K on it, and the monthly mortgage is $1,353 a month. I bring in $2,600 a month in rent without a vacancy since 2015. When I bought the house I used an FHA loan. I want to get some equity out of this house. It currently appraised at 255K! I want to get some equity out of this to invest in another property. Has anyone done this before with an FHA and what steps do i need to take to get this done? Thanks to everyone in advance.