All Forum Posts by: Mark A.

What if you took the 75% LTV refi and put the money into one larger property (like an apartment building)? $375-400k would make a great downpayment for a larger property.

close, reload, repeat

Even if it looks in good shape now I'd include something for your capex budget. If you save $100/mo to that "rainy day" account it can add up to cover capex costs down the road. Be aware that including capex when you run your numbers will decrease your calculated return.

Can you take a loan out of your retirement account? If so, you wouldn't need to pay taxes on the withdrawal and you could (hopefully) pay it back over the next several years with your cash flow.

My lender would finance up to 80%, required 20% down. If the lender knows you and/or the property, they may accept some portion of that 20% down as seller financing. 

Brandon Hicks how do you handle closing costs / due diligence? Are you paying for these but paying little if any money into the down payment?

Factor in the property management expense so you don't HAVE to self manage. If it is a good deal with the property management % taken out then you aren't working for free if you do self manage.

With your interest, I assume you've been listing to these podcasts already but if not you should check it out. I am not affiliated but find them very valuable. 

- Real Estate Investing for Cash Flow (hosted by Kevin Bupp)

- The Mobile Home Park Investing Podcast (hosted by Kevin Bupp & Charles Dehart)

Welcome to Madison! Where will you be working? Best of luck with the transition. Madison is a great place to live :)

I have used Edward Lawton at Axley. He was easy to work with.

-Mark

http://www.axley.com/attorney/edward-lawton/