All Forum Posts by: Bob Foglia

I'm just starting a quest to purchase a rental property/properties in the hills north of Phoenix (Cottonwood to Payson preferably). I'm putting together a team to help the process as I will be an out-of-state investor... for now. Are any companies doing property management in the area? 

@Sean Ross Thanks!!!! That's what I wanted to hear.

I’m in the process of getting a rental property ready for sale… Will reinvesting the proceeds in a multi family partnership satisfy the requirements to avoid the capital gains tax?

Hey Jeff, well I reached out to BOTW a week ago and they never even returned my call.  

I'm looking to move to a new area that is appreciating so I'd like to acquire a property now and rent it out... then move in when I retire in a few years... Is there any way (private money, hard money, etc) to acquire the funds ahead of time to purchase an auction property and then refi once it's acquired? 

I was thinking of a HELOC on a rental property, but it seems that a good W2 income and an 830 credit score doesn't matter when it comes to non-owner-occupied properties.

Thanks for the tip Jeff, I appreciate it. I will definitely check on that. 

I'm looking to pull some equity out of my rental in western Colorado for short term use. I assume a HELOC makes the most sense?... And since I don't live there (I live in Denver now) would it be best to contact lenders local to the house, or local to me?

Thanks, guys... I did get a CMA from a realtor acquaintance on another property I have in another state... I just didn't have any contacts in OKC and want to make sure we're all on the same page to start.

Will, did you get my PM?

I own a rental that I'm ready to sell and the current tenant is ready to buy a place. They've expressed interest and if it makes sense (no RE commissions, no renovations, hopefully, a quick transaction) I have no problem selling to them... They've been good tenants so I want to give them the first option if it's fair to both of us. Anyway, what's the best way to go about finding an appraiser to come up with a legitimate fair market value.

Looks like the majority of lenders offering blanket loans still have a $100k minimum per property... Frustrating to someone with good income, phenomenal credit, when you bring a deal with good cash flow that more than covers the debt service, but some arbitrary figure is holding you back. I can qualify for this on my own without it needing to be a commercial loan... Ugh!!!