All Forum Posts by: Diego Mugica

interested.. [email protected]

Thank you so much for your reply, I really do appreciate it!  Yes you are absolutely right, I did not add a PM fee because I had planned on managing it myself but in the future I will need one.  Adding 10% for a PM fee and 5% for repairs like you said numbers still look good but not as good haha.  I hadnt added repairs because the property was built in 2016 and looks to be in great shape.  Of course I will still be doing a proper inspection of the property before closing.  I will attach photos of the property.  Thank you again for your response it really is tremendously helpful.

Is this still available? could you send me the expense sheet with the utilities.  thank you!

[email protected]

thank you for the reply! I too am not a fan a floating rates.. I believe the cash flow is very IMportant edpecially for my first investment.. I feel safer having the passive income that a 30 year fix can give me if the property gets into a pinch.  I also hope with the numbers I did on the property show that it is a good buy.. there are 3 buildings that are identical and all rented out.. all 3 buildings are for sale but i can only afford one with the amount of capital (25%down) they are requesting.  I hope others agree the numbers look good! Thanks again for your response !

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*This link comes directly from our calculators, based on information input by the member who posted.

Hello, I have had a SFR home for about 10 years. Didn't make a whole lot of money being rented but I sold it and decided want to buy the something bigger. I have met with many different financial institutions. They offered me an investment mortgage at 5.75% fixed rate for 30 years but asking 25% down. However the property would be under my name and not an LLC. My accountant says its in my best interest to put it under LLC. I can understand the benefits from doing that however, commercial loans are only offered to me using an LLC. Best deal I was offered from a local bank was 6.25% floating or 6.75% fixed rate, 20% down with 20 year amortization. Incidentally the numbers on the property have been the ones Ive liked the most. The sellers had the property undercontract and buyer fell through bc he could not get approved financing. I would love to hear feedback on property and advice on using the 30 year mortgage vs the commercial loan. Thank you again!