All Forum Posts by: Chaithra Kumar

@Jack Zhuang very interesting proposition.

Hi Bari, with acquisition rehab cost of 140k If the property appraises for 175 then its not a great BRRR, since when you refinance with 75% leverage , you ll have cash back of 131 but you need to include closing cost thats about 4-5k , so effectively you ll get around 126 paid back that means you have 14k stuck on this one. Wait i did not consider your interest payment on hard money and its origination charges. Ideally this would be great for 100-110k.

@Sally Hanan very risky deal on those numbers, you

might end up loosing more rather making any. might work if u get deal for 120-125.

Hi @Jorge Garcia . please email the details to [email protected].

Still i dont recommend doing it. Get the rates and terms or closing costs sheet first and then make decision on lender.

Normally i see lenders to only up to 75% LTV of cash out REFI. if you happen to know someone , feel free to update us here. I recommend MB financial.

@Craig Montesano i have been investing cleveland area from california. Only thing that really annoying in this area is city POS and violations. City can put citation for weird reasons and you are constantly have to be careful also POS violations when you buy property needs to be fixed before renting it out. City involves too much.

@Isaac Rowe nailed it right. Cleveland heights property taxes are ridiculous for some properties, you have to be careful on that one. Thats the only 2 downsides i would like to warn you about. Having said all these i love the area, good renting potential, numbers will work great as long as you are conscious about the above items.

Thanks a lot @Casey Murray and @Daryll Penamora. Appreciate your recommendation. i will touch base with them. 

Hi fellow BP friends, i am looking for a real estate CPA in bay area who is investor friendly in terms of owning rental properties out of state  for Tax advice and tax planning. Would really appreciate if you can recommend one. Ideally not very expensive one. 

Welcome to biggerpockets and real estate investing dwayne. I live in san mateo and started 8 momths ago. Currently i hold 5 rentals out of state. Biggerpockets is such a wonderful platform to learn. We do run a meetup every other week in fremont. If you d like to attend and meet like minded people , feel free to Mail me or pm me, would love to share more details. All the best for your nee journey in to investing.