All Forum Posts by: Dan Bass

@Stewart Beal thank you, I will start looking soon. It’s a little nerve racking going the commercial route...means true business level now.

What terms and fees are you seeing or should I expect?

@Marcus Auerbach this makes sense and thank you. My fear is getting in a situation where rates fly up and the banks refi at high rates killing Cashflow...vs leveling up and getting on with the growth.

What expenses do you see for these loan values?

@Elise Marquette yes it is.

@Ye Cheng hello, out of the 8, 5 are held by one bank and I have been told it may be easier to package from one bank than 3.

Those 5 have a Cashflow of $1342/month after management fees.

Tots debt on the 5 is $216,300.

I am looking into wrapping a 6th house as my property manager is holding a house for me that is in the same ballpark in numbers. $54,000 purchase price and about $240 Cashflow after management fees.

Hello everyone!

I currently have 8 homes and looking to grow my portfolio in the new year as things settle down. I am nervous about taking the next step and wrapping some homes in a commercial loan as I’m betting on inflation down the road with all of the stimulus and there is no way to know where rates will be once it is time to refi the commercial loan again.

I know this is the next step to take, but nervous as I have seen many loans that need to be refi in 3-7 years. That seems to be just outside the Fed timeline of keeping rates low.

Are there lenders that lend for longer periods on a commercial loan so I can let the loan pay down more before refinancing again in just 3-7 years?

Other option I’ve considered is to pay the smaller loans off and let those Cashflow and buy more expensive rentals on 30 year fixed.

Thank you again!

Hi everyone. I currently own my home as a conventional loan as it was a rental, so I needed to put down 20%. I have since moved a bit over a year ago and the title has seasoned for 6 months into my name and I am looking to cash out refi.

The home was built in 1938 and is in good condition and in a great up and coming neighborhood.

I was wondering if there are any age limits on properties or if certain things of older homes prevent VA home loans on older homes.

I'd like to avoid the PMI less than 20% equity.

Any help would be much appreciated.

Thank you!

Dan

@Russell Fugitt I like listening to the podcasts for insight and ideas. I know I can’t implement all of the ideas, but rather, I listen for motivation and to keep going. Stick to one style of investing and get great vs bouncing around with each new idea.

Yes, your personal goals are the answer to the question I believe. Also risk appetite.

Hope this helps!

@Mel Jeffrey I’m in the Topeka market if you are still selling their.

@Luke Stutz I’d recommend Property Evolvers. I’ve used RMS in the past....so Property Evolvers is owned by a long time friend of mine and manages my 7 houses there. Personal referral. He will take good care of your houses and great communication, won’t nickel and dime you like others will.

@Karey Brown this is a bit late but I hope all is well in the Topeka area! I have 7 properties there. How has your success been lately?