All Forum Posts by: Besnik Kadriu

@Andrew Merritt

I’m torn myself. I wanna do a cash out refi. However with the rates spiking I’ll be breaking even after the cash out refi, then again I’ll have about 150k in cash to deploy to more deals and get a much better return on my money. I have a hefty prepayment penalty for another 4 years. So the penalty and closing costs are gonna eat away about 40k.

So the cash flow I have now it’s great but I have no cash to buy more deals. Similar situation for me as well. I’m working and trying to find a way to leverage the equity I have in the property. It costs a lot to do a cash out refi. It sucks.

Good luck with your refis.

Best Besnik K

Hi BP

Trying to do a cash out Refi on my primary. I also have a HELOC on the property.

1 should I refi the HELOC too ?

I’ll have some cash from the Refi that I can deploy into Real estate. By keeping it open I’ll just slowly pay it down and reuse the money.

So I’m torn as to how I should approach this. ?

I’m an investor so any money I get I put it back into RE.

Any feedback is greatly appreciated

Best in the business!

BP

Thanks!

Besnik ,

@Jonathan R McLaughlin

Hi Jonathan , good to Meet you on here. I’m also from boston. Would like to connect and talk real estate.

Thank you!

@Kaylee Walterbach

Bought a two family - first investment for me and it ended up being almost a full gut. Initially my partner and I were just gonna do the kitchens. Then we decided to do new plumbing , electrical , baths. Added two baths. Partially new floors. New paint.

So jumped into and it became a big project but loved every bit it had to throw at us and learned a ton.

So keep them coming and happy investing.

Woot woot!

So happy I a bought something along one of my best friends and partner.

@Andrew Freed

That’s awesome Andrew , I’m also from Boston , bought a two family few months ago and rehabbed it. So just looking to grow learn and network with others. And be helpful in anyway I can.

@Catherine Emert

Appreciate your response!

Thank you

Hello BP family

Quick question. My property is almost done with the rehab and will be up for rent November 1st. Do I call for the Appraiser before tenants move in ?

Thank you!

BP!

@Michael Metzger

Thank you Michael , we've gone ahead and formed the LLC and will close the property to the LLC. And will open a business account to keep everything separate. As for where I guess it really doesn't matter. Will go with the bank we're using now.

Thank you again!

I’m stoked with our first property.

@Bill Brandt

Hey Bill , Thank you for your answer. We're definitely opening a business account. I'm partnered with a friend on the this deal so we want to have a separate account. And also formed an LLC since we have equity in the house.

Thank you again!

RE is exciting

Where should I go open a business account for real estate properties? Big banks , local banks etc? Any recommendations?

Thank you BP

Besnik