All Forum Posts by: Deepak Arora

@Tristan Pearrow the deal has to be with either cash or hard money. But you brought up a really good point. Do you know if I can refinance into renovation loan/203k right after the purchase?

@Andrew Postell, ahh :|

Would forming an LLC and moving the property into it after the closing make it eligible?

@Andrew Postell, thank you so much for sharing the link. Just one question for now:

Do I have to have an LLC to be able to refi on a cash purchase right away? The reason I'm asking is because I am already in escrow and the closing is approaching fast.

I am purchasing an off market property in Rocklin, CA using all cash. However, I'd like to refinance asap based on current market value. I looked into Delayed Financing but it only provides financing on the Purchase Price. My purchase price is substantially lower than the current market value as the property is distressed and needs work. I am trying to see if there's a possibility of getting a refi done on the then appraised value once the property has been rehabbed, which would be a month or two after closing. 

Is there any option to do that or do I have to wait at least 6 months?

Any pointers would be greatly appreciated 🙏

@Brendan Miller that's what amazes me :)

IMO, a multi family should be highly priced because there has been so much that has gone into dividing the parcel up and building two different independent structures. But that doesn't always seem to be the case.

@Howard Chen thanks for your response. You're spot on there. However, I was asking more from a market's point of view. Which one do you think would be listed for a higher price?

Hello Fellow BPers,

Just wanted to get everyone's opinion on this topic:

Which one do you think would be more highly priced in the same area and with similar square footage, a Single-family or a Duplex?

@Sarathi Richa I've properties in both Antioch and Sacramento. The rental market currently is very strong in both areas and the prices have appreciated a lot in the last couple of years. Multifamily might be the way to go if you're looking for cashflow. But in any case, deals are hard to find right now.

.6 and above works for me in CA at the current interest rates.

All good points. Thanks for sharing @Sean Smith.