All Forum Posts by: Account Closed

Ive got several properties ive purchased with cash and am looking to refinance. One of them is a very recent purchase (closed two days ago) and one is a commercial property I am renting out and have a stabilized NOI. I have called and talked to several lenders and have some lists.

Id like to ask from those with experience who you are using and what type of terms are you seeing on:

-Seasoned SFH rentals (after 6 months)
-Commercial or MF properties with stabilized NOI
-Unseasoned SFH rentals (financed right after closing)


My goal is to ask advice on who the best lender out there is assuming my credit and equity is strong. Thanks in advance.

Several factors to consider:

1) What is your current mortgage payment vs what you would get in rent per month?  If you don't refinance, how much would you net per month keeping it?

2) If you sold it, how much would you make? Is it your homestead? If it is your homestead, you would owe no taxes.

3) Is the property in an area that is appreciating in value?

You could refinance it and pull out some equity, rent the house out and use the rent to cover the new mortgage payment and the operating costs and cash flow a little bit.. say 200 bucks per month.. Use the cash you pulled out fron your equity to buy something else.

Historically, my real estate investing has been almost the opposite of how the strategy is generally described by many of the members here.. I started with purchasing raw land and developing it by subdividing, installation of utilities, then building product, then selling. All of my deals were pretty slow comparatively speaking (over the course of a couple years). Even the acquisitions of the raw land were negotiations that took place over several months (if not years). Given the long time-frame of my past deals, I always had lots of time to create LLC's to either buy the property in or switch the deed over to once I had the land title in hand. This was always pretty simple considering most of the time, I bought the land with cash and no lenders were involved. It also limited the number of properties I owned to just a few, so "LLC management" was very simple.

My question is for owners of multiple properties on how you structure(d) your ownership entities all the way from purchasing to managing. In order to keep things simple, I often named the LLC's of my properties with a name that reflected something about the property itself; Like the street or the area it was in. I am about to send out a few offers on some properties I know I will not likely get, but in the event I do, the offer will be in my name with "and or assigns" which would give me time to set up an LLC in the event they accept my offer. However, some agents or sellers don't accept "assignments of contracts" in my experience. Do many of you just keep a repository of LCC's (or whatever entity type you choose) waiting to "assign" to a new property?

Can some of  you share with me how you handle this? I see a (blurry) way thru it, but I am not sure my way is the simplest / smartest way. I could go spend 500 dollars with my attorney, but I hope you guys have some creative ideas. Thanks in advance.

HI, this was sold a long time ago. Thanks!

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $158,000
Cash invested: $7,000
Sale price: $205,000

small rental house; Bought and lived in it for two years, then sold it sight unseen to out of state buyer.

Investment Info:

Other other investment.

Purchase price: $50,000
Cash invested: $50,000
Sale price: $205,000

Bought raw land off-market just ahead of growth and sold shortly after.

Investment Info:

Condo other investment.

Purchase price: $575,000
Cash invested: $575,000
Sale price: $4,000,000

Bought, subdivided and developed 18 condos in Austin just south Downtown.