All Forum Posts by: Chris Davidson

@Remy Piazza if you have deals go for it if the numbers work out. Look at other options like LOC's as well. Positive is it works and you find a deal and keep growing negative you don't find a deal you like, and now just pulled cash out and locked up most likely worse financing.

Cheers!

@Thiyaga Rajan struggling to follow your post, but if I was in your shoes I would work on what your goals and needs are. 

If you are making bank, and have a large monthly savings rate will the cash flow right now help you any, or would lower cashflow and more properties be better for you. Flipside if you are struggling to make ends meet and just got a windfall of funds I would use lower leverage and go for higher cashflow and work on building up your saving rate.

Cheers!

@Paul Evans Jr the owner carry could be an option that will help with taxes. However he could be looking at a lot of depreciation recapture when he sells. He is going to need to come up with a plan with a tax professional who knows the properties background as well as his. If he has been rolling a 1031 for years and stepped up each time there could be some big taxes to collect on. 

If you are looking to lock it up, and taxes are his biggest issues a master lease might work with an option to buy. You just don't get the tax benefits or access to equity during that period.

Best of luck!

@Maryanne Kichline you can get a HELOC or equity loan which wouldn't effect your 1st position loan. This will allow you to keep you rates, and payments but access some capital without having to change the deed.

Since you don't have a deal yet I would look at the HELOC that way you aren't burning a whole in your pocket with funds, and also aren't paying interest until you draw on it.

Best of luck!

@Rick Dreyer you are either going to have to have the DTI ratio in check, or have a debt service covered by the income for the refi.

If you can't pay the loan back the banks don't want to make it. Pulling equity out makes sense when you can get a return higher than your cost of capital. 

Best of luck!

 You are doing it right you are taking action and making progress! Keep it up you got this!

@Josh Schaap SMF is small multi family, 2-4 units. I would look into some portfolio style loans that may have lower than a 25% down payment. Another option would be a nonconforming unit or one with a adu where it by paper is a single family and banks will go down to 5% on owner occupied. Getting in with a lender who does investments will be able to best help you as they can give you some ideas on how to actually fund your goals.

Hope that helps!

@AJ Smith was this a chat GPT post?

@Bob Stein get ahold of your lawyer and see if that meets the definition of breach. He is the one who is going to have to explain it. If so start working on getting the tenant out and fixing the issue with the owner.

If you didn't agree to the owner receiving payment market it as late. 

@Ralph Noack what does your lease say? If it isn't mentioned see if the tenant will take care of it, and work on getting how you want it to be handled added to your lease. Generally structure issues fall on landlord if there isn't clear fault or detailed out how it is to be handled in the lease. 

For the dog waste see if the tenant will take care of it, and make sure you add that to your lease who maintains the lawn, and what that entails and doesn't.