All Forum Posts by: Bob Asad

I don't think the property taxes would jump that high in one year because it's an investment. Aren't the taxes for investments treated similarly as primary? (Even with homestead) You can also write off the depreciation for the investment.

Do you know if assumable loans have prepayment penalties or balloon payments when they transfer? (Are the rules whatever is being assumed from the original buyer?)

What if it's FHA or Conventional, are these assumable?

Also not sure how it would work as an investment, do you have to live in the property?

Can you assume a mortgage on a conventional or FHA loan?

For example, the house is listed for $500k and it has $300k in mortgage left at 3%

Could I offer $500k and "assume" the mortgage of the seller?

So in conclusion, it would be financed as a conventional with 20% down ($100k), and out of the $400k, $300k will be at 3% and the remaining $100k will be at the current mortgage rate?

Does anyone know how it works and best practices?

Any calculator or rental calculations that you recommend for Duplex or SFH to analyze if they're worthy of buying for positive cash flow?

For example, there's a 1950 duplex for sale (West Palm Beach, FL) for $500k with each tenant (MoM) paying $1,500 = $3k/mo

The mortgage is $2.8k/mo

Would this be a bad investment because you would have to factor improvements and possible vacancy?

If so, what would you recommend would have made this deal better as an investment?

Anyone having major success with only buying SFH and renting them out to tenants to make good cash flow each month and re-investing?

Also, if you increase the rent each year, does this mean you can get a higher cash refinance?

Looking to finance a 2-4 multifamily property to purchase near West Palm Beach, FL (or within a 30-45 min drive).

Been looking on MLS, Crexi, Loopnet, etc. but either the properties aren't good (too expensive) or the people don't respond.

I'm thinking of signing up for Pro (mostly for tools / calculators) and also checking out other rental calculators online. Which type of calculator do you use the most here or elsewhere?

I'm looking mostly for if I buy a 4-unit quadplex (example, or Triplex), how to calculate NOI, Monthly Cash Flow, Rehab, Cap Rate, Cash-on-Cash, etc.

For example, whenever I find a property on Crexi, Loopnet, MLS, etc. the NOI sounds good but when you factor in mortgage to get the cash flow, it's almost always negative.

I also don't know how to properly calculate a rehab to see ARV so that may be the other issue.

Thanks for the tip! Regarding the 1031, so let's say I put 5% on the new primary residence ($900k, so $45k-ish), and rented the original (former primary residence), I would have to wait 12 months before I could do a 1031? And if so, the 1031 would have to be for a "third" (or more) property equal to or more of the value of the selling price, correct?

 Thanks you were right! Checked with a CPA, it was odd because the loan officers / mortgage lenders didn't know I could do this until a CPA verified, then all of a sudden, they said oh yes you can do it..