All Forum Posts by: Sheng Yang

Does anyone know lenders offer HELOC on Investment Property 2nd position? I did refi a year ago now just want to take some equity out to buy more. Hard to find lender will do that. Spoke to PenFed, they would not do beyond 4th property. Are there other lenders out there can do this or anyone has creative ideas to get equity out without refi? Thx for the help.

@Onan Dumas thanks for the input. Good perspective.

@Mathias Simmons post too quick. Yes I need help from the partner to follow up on cleaning and maintenance and restock. I spend too much time traveling. And he is also injecting 50pct of the cash down payment. Half of 25pct is 12.5 of the total. I was trying to get a sense what is a reasonable pct to offer to him. Maybe 20 is too much?

@Mathias Simmons

BP Community:

I have a partnership split question reaching out for help.

I went in a BNB unit as partnership with a friend. We did 50/50 on 25% cash down payment, and I got a loan on my own to fund the rest of the 75% of the deal. I also spent significant time research and to put deal together, including negotiations with the builder. Going forward I will bring knowledge to operate the BNB to set up the platform, automate the pricing and etc. My partner will be focusing on the maintenance of the unit. We intend to manage the unit ourselves through the platforms. For the split percentage, I am thinking 25/75 or 20/80 for the deal. We will use that split to do cashflow profit sharing and equity split when we sell the unit one day in the future. We will draw up the agreement based on that split. Does that sound like a good partnership split to you? Thx for your input.

Sheng

Hello BP community:

I have been using this great tool on and off for some time now and would like to reach out to connect with agents and investors who know the Nashville area to network. Please DM me if you are open to connect.

I own a couple units but still consider myself a beginner. Very excited to see all the wonderful sharing from the community. At present, I am actively looking for Nashville area opportunities but found very difficult to find any deals these days. If you can help me, please reach out to me as well.

Thanks all and stay safe.

Sheng

@Devan Mcclish thank you for your input. What you said makes sense. Some one told me the work around might be creating the LLC and then sell the LLC to avoid deed transfer beyond 2022. Makes sense logically but I am not sure it will work in real world.

@Steve Frye thanks I will DM you

@Paul Sandhu

No problem those are just zoning codes in Nashville.

Hey community

I am looking at two properties fairly close to each other and at west side of the city. Great view to downtown.

Unit A is a 5 bedroom and a lot bigger and available now. Unit B is 4 bedroom available at June 2020. A is RM 20 and B is Mul A. A also cost 70k more.

I like the building but hanging up with rm20 since the NOO permit will be banged by Jan 2022. So that might hurt the resale value for A since B is Mul A so does not have that problem.

Debating on if I should wait.

All units are top line from the same builder.

Does Mul A worth the wait? Appreciate your input.

Thanks.