All Forum Posts by: Christian Nachtrieb

Oh did NOT know that. Thanks @Dmitriy Fomichenko

Hey @Paul Linnertz that's awesome dude congratulations. Out of curiosity what town in Upstate New York? I grew up just outside of Albany. Potentially looking at investing back that way, just those taxes are a killer...

@Scott Jensen makes a good point, consider looking at a Roth IRA since you're showing paper losses? I'm assuming you're making money somehow, just because it's a "loss" based on the IRS's standards doesn't mean you can't contribute post-tax dollars into a retirement vehicle.

I'm in the process of doing a cash out refinance on an investment property at 75% LTV at a fixed rate of 4.875% 30 year loan. I think that's REAL good, 5.25% not horrible but I would think you could do better. I'm in a major city, Boston.

It mostly depends on the bank and their terms. I'm going through a cash out refinance at the moment, I'm getting 75% LTV on the property at the new rate is going to be fixed at 4.875% at 30 years. In total, closing costs under $2500. Nothing too difficult really.

@Andrew Johnson If you're worried about sending an online form for them to sign and only agreeing to the primary lease, I would go see them in person and only hand over keys when both the Lease and the Addendum are executed.

@Patrick Coffey Went through something similar in Dorchester / Boston area. Inherited a tenant back in August who was getting a housing subsidy from the Boston Housing Authority for 100% of their monthly rent. In this area, I had to give them two months notice before raising the rent, but all you'd do is submit an application form, **tenant must sign it** even though she's paying nothing out of pocket, submit, and then the direct deposit updates automatically. Pretty easy actually. You are also given a one sheet that outlines what fair market rent BHA will pay for in terms of 1 Bedroom, 2 Bedroom, 3 Bedroom, and 4 Bedroom apartments.

Good luck!

This might be a dumb question, but what kinds of permits do you need if you're simply rehabbing the interior of a single condo within a 3-family in Dorchester? Is this as strict? Nothing is changing with any exits or use, just updating the kitchen and bathroom, painting, trim, pulling out some carpet, etc.

I agree with Thomas. Make it a business decision, not based on superstition. I could see however if you've been burned in the past that this is just sort of one of your golden rules. Either way, I would take into account how strong the Saratoga rental market is, and worst case if they decide not to leave, how long will the eviction process take and where does that put you in the season? Will you still get the same demand come September? October? Factor in worst case scenario.

Hey Jason that's great to know thanks! Never heard of them. I actually found an outstanding deal yesterday talking to Cambridge Savings Bank. They've quoted me a 30-yr fixed rate of 4.875% with a 1/4 pt and at 75% LTV. They also have a 10/1 ARM that's even lower.