All Forum Posts by: Cody Barna

@Daniel Winsauer I suggest having a lawyer review your lease even if it's the BP one. Personally I would bring in new tenants that I'm able to screen myself, do any of the units need work done? Another thing to consider is if the current tenants are paying market rent and if not are they willing to stay at an increased rate.

@Brandon Tedford typically it's up to the home owner (the FBSO in this case) to determine if they're willing to offer a fee to an agent that brings a buyer. However in some cases the buyers agent and their client may agree on a means of compensation between the both of them. This is can be a reason why a lot of seasoned agent avoid showing FSBO properties to their clients. (Not agreeing with that approach, just saying it does happen.)

@Linda Manning just thinking out loud, if you were to do a cash out refinance on your primary residence could you get a lower interest rate vs using a conventional mortgage to purchase the new property?

@Jeff Nichols it may depend on your lender and the type of loan but typically they can use the projected income towards the amount you qualify for.

@Linda Wright sounds like the people who thought you overpaid weren't very knowledgeable about that market. What are your long term plans for the property?

@Emmett Riddick, Jr. curious to know how you settled on Arizona? What specific areas are you looking in and do you have any plans to relocate?

@Matthew Lewis I don't have any direct experience, however I was curious to know your thoughts on Arizona? I noticed in your profile that you recently moved there, where did you live previously? I've been considering making the moving from the east coast at some point, potentially Northern Tucson or Sedona area.

@Matt McGuire based off the details you've given I would hold onto it, however if the numbers make sense to sell now then maybe that's a better route. If you were to sell the property after paying agent fees, closing costs, taxes etc. would you net an amount that allows you to generate more cash flow? Or is that a number you could surpass by simply holding onto you current rental? There's a lot of factors that come into play which makes it a tough decision. Good luck with everything! 

@Tim Callahan sounds like a successful house hack, what kind of interest rate were you able to get?

@Tim Callahan nice job! It sounds like you had a pretty successful renovation, how much did you spend and what's the ARV?