All Forum Posts by: Eric Healy

Hell all,

I'm looking for a connection to some lenders that can work with my situation. I have great W2 income, great credit and no debt. However I have own an investment backed start up (LLC) that has taken a loss the last couple years. Because of this I have been turned down by a couple lenders despite the fact that I'm not personally liable for the losses. If anyone has any advise or could point me in the right direction, I would appreciate it!

Thanks,

Eric

Hey we have a gas station/convenience store in OR and would like to do a cash out refi on the property in-order to buy another property. Where should we go to get this done?

@Chris Mason what’s the lowest your seeing?

@Chris Mason wow, super interesting! I suspected something like this was happening but wasn’t sure. I’m based in OR, any chance you can help with a refi?

Can someone explain why morgage rates are increasing despite the Fed drop to 0%?

Hello all,

We are looking at buying a premium mixed use commercial lot on a high traffic corner. We ultimately think this property will appreciate. In the mean time we would like to find some low cost use for it to make some income. We are trying not to spend a lot developing anything substantial. We are looking for creative ideas to generate some cashflow such as food truck lot, storage, etc. If anyone has any ideas, it would be appreciated!

Thanks

Hello all,

I’m confused as to what is going on in Seattle. If you read this recent article by the Seattle Times, prices have gone up significantly in the last 12 months, some neighborhoods at 12%!.

https://www.seattletimes.com/business/real-estate/seattle-home-prices-see-largest-year-over-year-jump-in-12-months/

However, if you look at Zillow, Redfin, etc., these same neighborhoods are showing a decline. What’s the deal? What do you see the next few years bringing?

@David Lee Hall, III good idea, I will do that. Not sure about insurance.

Hey BP,

I found a nice aircraft hanger at our local airport and I think it may be a good investment. I’m a pilot but not looking to use it myself. I would like to just rent it out for cash flow. I’m on the west coast, so cash flow like this is hard to find. I would like to hear all you thoughts on this one. I have never heard of any investors doing this, does anyone out there invest in hangers?

In our area, this should rent for $2000/month. My quick math says, 60K (30%) down, morgage payment $1000 plus $230 /month land lease and $125/min for taxes. This gives me a 13% cash on cash. I’m also thinking it could appreciate. They don’t build new hangers very often as there is limited airport land. This is at a pretty busy regional, commercial airport. One concern and question is about the land lease from the city, what happens when this is done?

Here are the specifics on the unit:

Large Hangar For Sale $197,500

Hangar Size: 4,125 SF (55' x 75'), Construction: Steel hangar fully insulated with efficient natural gas heat.

Lot Size: 0.19 Acre (8,125 SF) of leased land

Zoning: AIRPORT-L, M1-L,

OSPR-L, PF-L

23 years remaining on land lease.

Hangar has an office, shower, gas heat

Single lift hydraulic 53' x 18' door

200 amp service

@Bill Goodland thanks! I like this strategy and will give it some thought.