All Forum Posts by: Bob Romano

Hey Josh, I just did a Cash-out Refi on one of my rentals. I did a 75% LTV. My new rate is 3.6% from 5.25% with 0 points, I ended up pulling out 45k which was what I put in when I bought it and now I'm using that 45 k as a down payment on another SFH. Love the BRRR method!

I just call my insurance agent, give him the address of the property im looking at and he calls me back with a pretty accurate quote.

Update: My inspector found asbestos floor tiles present, which were compromised so they would have to be remediated,  an 8ft crack in the wall in the foundation, and rotted wood around the basement door. So i rescinded my offer and walked away. It was well worth the $350 inspection fee.  Thanks guys !

@Marcus Del Bianco Well, the first property I bought was a flip, so I made $45k on that and used this money for the down payment on the second. Refinanced the 2nd 8 months later and pulled out about 40k on that one to buy the 3rd and so forth...

@Mike McCarthy That's what I'm thinking Mike, My inspector only charges me $350 so i think it is worth it for the peace of mind. Also, i forgot to mention the house is sold as is, as seen too.

I'm looking at a property today,  and it has fallen out of agreement twice after each home inspection. The realtor has told me it fell because 2 windows have to be replaced and there is some wood rot around the bulkhead. ( hopefully not termites )  My question is : Should I pay to get my own inspection or just use the previous one from the other buyer? My realtor said he can probably get a copy of the other inspection if I wanted to save a few hundred bucks, i can use his. What are your thoughts on this? 

@Carlos Albarracin Thanks Carlos, They all are in my hometown, all within 15 min of each other. I have not looked into duplexes yet. 

@ryan Hazelwood Covid has not affected me so far. All tenants paid on time . All are at 30 year 

All 30 year 

It has not, all tenants paid on time