All Forum Posts by: Bhaskar Pusuluri

@Devang Patel

I am also considering about selling one multifamily property to capitalize on the market situation. I mentally prepared to pay longterm capital gains tax - as it would hard to find a good deal soon.my hope is yo buy a bigger property after the market corrects .

I have more properties, not thinking about to sell as they are providing great cash flow .

I bought few rental properties in Raleigh and Charlotte. Now the prices have gone up there.

I did BRRRR on few SFR in fayetteville, but have challenge with low rentas and high vacancy .

What other cities/ towns in NC have good rental markets ? My plan is to do BRRRR there.

Thanks in advance .

We are buying a property from a wholesaler.

He is assigning the contract to us .he us not doing double closing .He is taking 10K as assignment fee.

Does the bank include the assignment fee to the contract price ,while calculating LTV ?

Or the assignment fee come from our pockets ?

@Nicholas Aiola

What incase you hold them in an S corp and reinvest and ho on .

You only pay on the amount you distribute ?

@Dave Rav

SunTrust sent me a flyer stating that they offer 100K loan.when I called ,they did not approve me as I was not a citizen

@Ron Trinh

I got a loan for primary home in doctors special program from capital bank / first Tennessee bank.

0% down ,no PMI,3.85% interest .

They offer loans in multiple states .

They offered loan for second/ vacation home at 5-10% down.

@Andrew Zannotti

Cumberland county has high taxes ,higher than Raleigh, lower rents .properties won't appraise to the tax assessments.

@Stephen Glover

Did you go back to the appraiser regarding the

Comps he chose? Or the upgrades you did ?

For one of my properties, appraiser chose one

Higher ,2 lower priced as comps.so mine appraises lower than the current sales .

@Paul M. DeAngelis

Does this only works C and D class neighborhoods?

As the neighborhoods getting gentrified or upgraded ,people move towards in-house laundry?

Are there any franchises in this business?

@Andrew Zannotti

I do BRRRR in NC.i faced lot of problems in refinancing too.

I googled local banks and I called around 30 of them.only 2-3 dont have 6 months seasoning period. One of them only lend to USA citizens.

I went with other bank ,they did cash out refi in 2.5 months from purchase.

Now another bank ( has locations 2 hours away ) willing to help.