All Forum Posts by: Daniel Schiller

@Nam Trang every inspector will mention the tree touching the structure which can lead to long-term issues, ya da ya da. I have a few trees close to properties that I will probably remove so as to remove potential buyers skittishness when I sell the properties.

@Anthony Mikolich units like these work well. I use a smaller version in my TURO cars when renters choose to hot box the cars.

https://www.odorfreemachines.com/cigarette-odor-removal/

I always use AirBnB and HomeAway for my seasonal beach rental, but lean heavily on AirBnB. I’ve never noticed a volume correlation; just that HomeAway renters complain less.

@Tyler Phalen it’s counter-intuitive, but I learn from an old mentor to buy nice used cars in cash. The main thing you want to do when buying a used car is to take it to a 3rd party auto shop for a pre-purchase inspection, then use that information to renegotiate the price same as you would renegotiate a property during the option period as your due diligence develops.

Regardless, enjoy the new ride. When those kids eventually do come, you will learn all about the special dimensions of car seats... they didn’t even fit comfortably in my old A7... and boy do I miss that car!

@Guifre Mora ... is this response just for karma or something?  I haven't had a conforming loan since purchasing my first primary residence.  Please reread my original post.  

... so no recommendations?

Do any pros have recommendations for non-recourse lenders in Texas, specifically in the Bryan / College Station area?  I have a group of 8 homes all on the same block that I've held since 2012/13.  Great historical performance; only one season with any vacancies; yet the regional and local banks I've dealt with previously and am currently talking to are almost all still asking for a personal guarantee.  

Details:  8 homes, built in 2012/13.  Purchase price - ~ $1.4MM; Market Value ~ $2.5MM; current debt ~ $800k.   

I'd love to hear if anyone in the area has had more success with traditional lenders in this area.  It might be that Aggies are just super conservative, but is there another way without going through non-recourse brokers?  I like being able to text my bankers, and not dealing with back office people when I call.  

Any and all advice and recommendations appreciated.   

Thanks,

D

I'm confused what you are asking.  A cash-out refi is not a taxable event. You can turn around and use those funds however you see fit.   1031 exchange is related to capital gains deferment at the time of sale.  

@Grant Doyle from your post it appears you already got a loan above the purchase price... so context of the original deal would help. Aside from that you seem to have waited way to long on your DD. A property that size shouldn’t take more than 5 days to have all your inspections and bids.

Without more information, 2 things:

1) hit the ground running and deal with your cold feet inside the option period.

2) if you are purchasing a property in need of the repairs you describe, lay out the scenario with your lender, make sure you have enough for all the repairs, and run the math on comps and whether you can increase rents to cover the improvements.

Good luck on your future ventures!

@Jay Hinrichs the real interesting trend is HELOCs as a form of refi; regional banks are basically pitching the old 5-year interest-only ARMs as HELOCs to wrap up 1st and 2nd mortgages.