All Forum Posts by: Fenzee Pierre

Matthew,

A heloc is an option. However very few lender do Heloc on investment property. There are just a handful. Additionally, you will need the property to show that its occupied and income producing. So evicting tenants is not the approach i would suggest. I would suggest looking into lenders that allow for HELOC on Investment property. If not you may need to do a cashout refi on a DSCR loan. Assuming that that property can cashflow. Good Luck my friend.

Established small Residential MF investor. Looking for 60-75K capital injection. Open to 2nd lien 18-24 mos. Any suggestions? 

I am interested. Where in Herndon is the property located?

I inherited a property in Marietta GA,. Its a Duplex. I am undecided if I should repair it and rent it out or should I  repair and sell it ( fix and flip) sort of. Based on data from Rent.com It seems that in the ATL metro area , a 2 Bedroom property could rent between $1500 -$1600. The mortgage on the property is still fairly high with a balance of  $285k. However the equity position is sizable also. Based on Redfin.com, Zillow.com. Similar type properties ( 2BED, 1BA, that are updated/renovated are selling between  $420k -$525k. 

Would anyone suggest to sell as is for $330k? OR 

Do I hack with a HELOC or Cash out Refinance and optimize the revenue on the property ?

The 2nd part of the question is which option maximizes the true revenue potential of the property ?

LTR vs STR. The property is located in a top 5 School District in State of Georgia over the past 5 years. The property seems to score really high on all other location fronts, Walkable, trails near by, its 20 mins from all major attractions in the GA metro area. If you know about traffic in the GA metro area. You really want to be close.

BP Family, any suggestions on what strategy would be  most profitable?   

Eviction in NJ is not that simple. I would suggest reaching out to an attorney. Keep in mind. That at closing you were just transferred sec deposit and rent payment from previous owner I am assuming. 

Looking for an experienced contractor to complete renovation of 2 units in a MF building. 

Property is located in Fishtown Area, 2 blocks from Hosptial. 

What are you looking to do. BRRRR or Cashout? Dominon Financial, I am a loan broker and maybe able to assist.

Can anyone recommend a clean-up crew and or dumpster company. How much should hauling debris from eviction cost? Do workers charge by the day or Haul?