All Forum Posts by: Elizabeth O.

I ended up going with USAA. Quote was given to me and ended up being higher. My husband's quote stayed the same. I did some research and it seems from initial quote it rarely goes down and more than likely increases a bit. Most of the info they collected was via online application so it really depends on what you submit. I did get info in the mail about guaranteed quotes no matter what your exam showed but I didn't look into those because they were names I didn't recognize.

I purchased a town home in zip 23452 and made it work. 99k purchase price with 20% down. HUD purchase and it only needed 5k in rehab. Rented for 1195, waited the 6 months and did a cash out refi 75%LTV.

Was able to pull out all of my money and move on to the next deal. 

It's hard to find a 3/2 around 100k with little rehab anymore in Virginia Beach but I see them pop up every once in a while.

If you have any questions, please feel free to reach out.  I have a great realtor and lender and I'm happy with my property manger. 

It can be done!

Logan Welsh I've done two over the past year and I'm in the middle of one right now. I'm in NOVA but I use a lender out of Richmond. Is the property in NOVA? I also have a contact here. Let me know if you would like the contact info and I'll pass it along to you.

@Steven Lapp

I'm a fan of property management as I live a couple hours away.  I see the draw of managing your own investments but to me its worth the percentage to have someone handle leases, repairs, turns etc.  Drew with KRS handles my places in Va Beach.  I'll send you his contact info.  

Hello, 

I'm curious to know if anyone has a short term rental, homeaway, airbnb in Lake Placid New York.  My husband is doing the Ironman in July 2017 and we are looking to book a place now.   Ideally in the south mirror lake area but we are open to any place around there.

Anyone have any suggestions or stayed in that area before?  

Thank you!

@Stephanie Medellin

Glad to see you bring this up again.  My lender told me again about a month ago that  something was in the works.  I look about every week but have yet to find a definite answer as to if its going to happen.  Happy to see your response and I will certainly ask if it an be manually applied.  

    If I find something that says it's a go, I'll post here.  

@Matt Curtis

Welcome. I still consider myself somewhat new as I'm learning everyday but I own a couple SFH's in Richmond as well as a duplex. I do a lot by phone and computer as I'm about 2 hours away from Richmond. If I can be of any help, please reach out.

@Taylor L.

Would you mind putting me in contact with the woman who has the apartment building?  

@Corby Goade

Nope, that doesn't seem to be my issue yet. My usual lender for my purchases can go to 10 but doesn't offer HELOC's.

I am already approved for loan number 7 through him. 

I'm looking to have another HELOC mainly as a safety net.

Good afternoon, 

Currently I have my primary mortgage which I took out a relatively small HELOC on a few years back. Its through Suntrust. At the time I didn't have to pay for closing costs or the appraisal.

Since then I have purchased 5 investment properties and each carry a loan.  

I called Suntrust to increase the HELOC and they said they won't do it because I have too many loans. I have been told this by a few banks now. I have equity in my primary and high credit scores.

I'm in Va and I'm looking to find someone to help me obtain another HELOC and I'd hopefully like to avoid the appraisal and closing costs.

Anyone able to help?

Thank so much

Elizabeth

Thank you everyone who has taken the time to reply.  

I wanted to follow-up on the inspections.  My PM was at the townhome about 6 months ago checking on a few things.  This was not an inspection by the books with photos and at that time the property was a bit messy but no physical damage was noted.  My PM does exterior inspections regularly through out the year.  When they enter the home for repairs I get an update if anything is out of the ordinary.  For a formal inspection, they charge $78 and take photos and write up a report.  I haven't requested them to do a formal inspection of any of my properties.  For those of you who do hire PM out, are you having this done once or twice a year?  I'm now thinking I should have this done.  If I found this out a month ago, would it have changed anything?

 I think @Nikki Grizzle hit the nail on the head with his life being turned upside down however this is no excuse for him to damage my property.  

@Mike F.  The property was shown after receiving permission from the wife for a certain day and time.  The wife was not home and they were greeted by the husband who states he wasn't informed of the scheduled showing.  He allowed it and my property manger entered.  I got a call a few hours later.  

I did not say that my property managers were doing an outstanding job.  They are doing a relatively good job so far by me.  I am happy that there is someone besides myself dealing directly with this. I agree 100% that everyone including PM will usually take the easier and more profitable route.  I'm sure  there are good honest people out there too but in business, most people care about money.   

I'm not sure I know of a way to avoid this all together besides making sure you have enough money set aside to deal with problems when they arise.    

@Christopher Haile Nope, sorry.  This property is in Va Beach.  I have management in Va Beach and Richmond.