All Forum Posts by: Bob Foglia

@Rhett Tullis Thanks Rhett... Yes, it is Orangeburg pipe, and they did run a camera down the line. The current plumbing co. gave me a quote for the work, but being as large of a job as it is, I would like at least one more quote. 

Help! 

I own a rental in OKC and was just informed the garbage material that was used as a sewer pipe has collapsed. The plumber who came out said the back yard needs to be dug up and the entire pipe replaced. I would like to get a second opinion and possibly set up the repairs. 

Please PM me if you can help or have a contact who can, and I will respond ASAP. 

Thanks in advance,

Bob

@Jared Bouzek Yes, I am self employed... Strike 2, right???

@Jared Bouzek thank you for the quick reply. I am just starting to look into options. Good Iinformation, I will keep that in mind.

@Robert Grant , I am currently renting where I live now, but do own a second out of state SFR. That one has decent cash flow... I wouldn't mind refinancing it as well, but the Colorado property has a less favorable loan... It was initiated back when interest rates were a fair bit higher (6%). So I would think I'd be more likely to get my monthly obligation down on that one to help with cash flow.

I own a home that used to be my primary residence, but when I moved I rented it out. I have years of payment history and long term renters... But my income isn't great especially in light of some medical bills I'm working on paying down. 

My question... Will anyone look at a refi +/- some cash-out if the DTI isn't there?

Thanks for the input. I think I'll just stick with my credit union for the new account and work on refinancing the two properties as my next hurdle. 

Thanks again to everyone who took time out of their busy schedules to reply. It is sincerely appreciated.

Thank you all for the input. I do  sincerely appreciate the collective wisdom here on BP!

Dmitriy, I apologize for the  confusion. I currently own two homes outside of my solo 401(k), one of which I would like to refinance.  Unfortunately, a non-owner occupied property, with a somewhat difficult financial situation (new business, etc) I thought parking my solo account someplace that might also be interested in creative financing, would be a good idea. I don't know if it really makes any difference as it's actually my trust's account… But I thought it I would ask.

Once again, makes perfect sense. Thanks Bill. I do appreciate your time. 

Thank you Bill, that makes sense. 

I am actually planning to open a checking account for my solo 401(k) this morning… So it sounds like I should just do that at the bank of my choice, and pursue local banks when the time comes. Correct? 

I've seen a number of discussions about portfolio lenders, but wasn't sure if they tended to be national, regional, state, local, etc????  Are any of these companies national? Or at least regional? Or do they tend to be more typically local? 

The only reason I ask is, I live in CO, but own a property in OK and actually plan on increasing my presence there rather then here... at least for now. I'm just now starting the process of setting up my Solo 401(k) and thought it might be nice to open the account with a bank that might be interested in lending in both locations if possible.

Thanks in advance...