All Forum Posts by: Devin Tang

I know it's been a while since I first posted this topic.  I still havent made a decision yet because I'm still learning.  If I do a cash out refinance and buy another property, won't that cut into my cash flow with the larger mortgage payment?  

I think I understand the principle (or not).  I have question using an example:

Lets say you pull out $100k heloc.  

Make a chunk pay for $20k towards mortgage.  

Make income payment of $5k towards Heloc 

Use heloc to pay $3k expenses/mortgage

The assumption is that the difference of 2k (5k-3k) would  otherwise be left in a savings account if you chose NOT to do a heloc.  But what if this 2k was put in a tax-deferred retirement account like a 401k or defined benefits plan?  Is doing velocity banking still better?  I'm just curious as this came up during a conversation with a friend.

I have a question about this topic.  If you do choose to utilize this program in a multifamily unit, will it make the unit harder to sell later on?  I've heard that section 8 is a little harder to sell.  But it also sounds like Section 8 may have a harsher stigma than a program like this?  Thoughts?

I understand adding value to multifamily homes and appreciation in Las Vegas.  But from my understanding, though I'm still new to this, the 4-plex units here in Vegas are mostly C-D neighborhoods.  Maybe others who own them here can chime in, but have rents really gone up in these units?  Have prices gone up so high that a decent deal is hard to find?  If rents are fairly stagnant in these units, can I expect to gain any sort of appreciation in these investments?

I paid $730k in 2013.

Hi,

I am relatively new to Biggerpockets, and need some advice.  I currently own a Duplex in Washington DC that I used to live in, that I bought in 2013.  Currently one of my tenants has moved out, and the other tenant is month-to-month.  I saw this as an opportunity to do something with my property.  I'm just not sure what.

Here are the stats: 

House is worth ~ $1.1-1.2mill

Mortgage left $530k

Monthly mortgage payment (includes tax) $3200/month

Market Rent for both units - $6k/month

Property mgmt 7%

Expenses ~$2k/year

A) Sell and get a potential check for $500k to invest elsewhere

B) Continue to rent & hold - status quo

C) Continue to rent & hold & refinance cash out? to invest elsewhere

D) None of the above

Hey Subbie,

I've spent so much time crunching numbers in Vegas, (maybe not creatively enough), I havent dabbled in other areas.  Is there a location in the west or SW area you recommend as maybe a starting point?

Hi,

I currently live in Las Vegas and have 2 multifamily units, which do ok and are cashflow positive.  However, it is only recently that I've been taking real estate investing a lot more seriously as I've been trying to read and listen about it as much as I can.  Currently I'm interested in multi-family units between 350-500k.  However, I noticed that I'm looking at like 5-6% cap rates, (though I'm pretty conservative with my expenses), and they appear to be in warzones.  My questions would be:

1) Should I still be looking in Vegas for Multifamilies?  Or is it time to branch out to other cities?  What other cities?  

2) Should I be looking for other types of investments in Las Vegas?  Commercial (though usually out of my price range for now)?  Airbnb/Vacation homes (though there is a lot disagreement about allowing short term rentals here)?