All Forum Posts by: Daniel Fisher

I have a question about virtual PO boxes. I move almost every year and I do not want to change my address every time with the secretary of state. Can I use a virtual PO bow for my LLC? That way everything can be sent to one place and I would not have to change it every year. What do you think?

I have been on title for a year at this point 

I purchased a house on owner financing, I then fixed up the property and plan on doing a cash out refinance. I have been having an issue with banks wanting to refinance the owner financing loan. Are there any rules that you know about that would make this refinance an issue? Why is my lender saying this isn't possible? They say I could get a hard money loan on it then they can refinance that but cant due it for the owner financing. 

Very confused about it all.

Any advice on this would be appreciated. Thanks 

I am trying to use hard money for the first time. I have done three deals and they have all done very well, I have a deal currently that is on an owner financed balloon. The balloon is soon coming to an end and the owner is not interested in extending the balloon. My idea is to use hard money to finish the rehab and pay off the balloon. The deal is very good and I see absolutely no way it could go wrong, that is why I feel like it would be a great first property to try hard money on. What do you all think?

Do you see any problems with this idea?

Does anyone know a hard money that is good to work with?

Thank you for your help!

I am currently rehabbing on of my rentals. It has an evaporated air system currently and I was considering putting in a mini split ac system. It would make the house feel more comfortable and I would be able to charge a bit more for rent.

Does anyone have any experience with mini splits? Are they worth it? Do they work well? Are they renter friendly? Does each room need it’s own split?

Any advice would be great! 

Thank you, 

Daniel 

Thank you all for the information. I have heard of people using hard money or heloc but haven’t heard much about personal loans. Are there any potential pitfalls I should keep an eye out for?

I acquired it off market. Purchase price is 50k ARV it roughly 140k with a 25k rehab budgeted. I have it on a 1 year balloon ending in March. I can very easily cash flow the rehab myself, it will just take longer. I was thinking if I can get it done quicker then I can move in to the next property which I already have under contract.
This is my 4th deal. 

I am ramping up the real estate investing and I was considering the idea of taking out a personal loan to do the rehabs on my properties then refi after. My wife and I are good at negotiating owner financing on a ballon so we would not have to finance the whole house, just the rehab. 
What do you guys think?

Thanks,

Daniel

Does the fact that it is coming from owner financing have anything to do with it? Also I just got it in October, is there a time period that I have to wait before doing this?