All Forum Posts by: Christian Hollinger

Thanks @Andy Webb, that's my understanding as well but I know a handful of local banks / credit unions have the potential to take on a portfolio loan at 80% LTV.

Has anyone had any success with local credit unions or banks in Austin or San Antonio that would do a 80% LTV cash out refi on a triplex? Triplex is in SA but I live in Austin, I know many local banks have restrictions based on where the owner lives or where the property is. I've started calling around, but would love any recommendations to help narrow down the process.

Thanks @Jordan Moorhead, I was just thinking through 2-3 creative rental options that could work this morning. STR being one of them. Are you self managing the monthly rentals and where are you listing them?

Thanks @Ryan Kelly really appreciate your insights on everything and input on this in particular!

What’s up BP Austin. Need thoughts and opinions on the following:

I am building out in Lakeway (completion sometime this Fall) and currently own my primary residence in NW Austin right across the highway from the Domain. We were originally planning to sell and take our full proceeds ~$220-240k+, close on the new house ~$185k down payment, and have cash reserves or use the excess for the start of a down payment on another rental property. 

Now we’re considering a cash out refi of $140-160k, pay the rest of the downpayment on the new build out of pocket, and holding on to this NW Austin house given the insane appreciation of this neighborhood in particular (next to Domain, close to Apple campus, lots of outdated homes that are now being flipped). This is a new consideration for me so I hadn’t looked at rental comps until this time. New monthly payment would be right around $3,000 all in (not inc. utilities). I’m ok with breaking even for a year + given the Austin market & have a triplex in San Antonio that cash flows $500+ per month when fully occupied that can help offset a negative/break even cash flow on this house. 

My questions for you:

1) Thoughts/opinions on this plan?

2) For those of you with SFH rentals in this same area, do you think $3,000/mo is possible for a fully renovated 3/2.5 1,400 sq ft house with a large backyard?

Would love to also connect with anyone located/investing in Austin as well. Thanks!

Hey @Chace Dietrich, we just started working with Hendricks Property Management and they’ve been great to deal with so far. 

@Candice Jensen we just ran into the same thing with a triplex in SA. Closed a couple weeks ago just above 4.3% but were originally expecting mid 3’s at the start of our search. 

I'm sure this has been posted a number of times.. but any REI friendly CPA recommendations and REI friendly attorney recommendations in Austin, TX that you have worked with before?