All Forum Posts by: John K.

Thank you for getting back to me. I sent you a message.

Hello all, I hope everyone is well in these interesting times needless to say...

I am looking for a HELOC Lender that can assist me. My property is located in Vallejo, CA 94590. I owe a balance of $516k and it appraised for $750k on 09/01/2020. I am looking to do a HELOC for renovations. I need the HELOC to ideally meet the following criteria:

LTV 90% or greater (Mandated requirement)

Interest-only 10 Withdraw Period (Mandated requirement); 20 repayment period 

Variable or fixed rate

Please let me know if anybody has a HELOC Lender that can meet the above criteria that they could recommend.

Thank you everyone and stay safe!

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I purchased a single family residence (Seller and their agent represented it as a triplex intially - 690k) this year in January. Upon reviewing the zoning documentation, I discovered that the property was a single family residence, with a permitted accessory dwelling, and a permitted business office. As a result, I negotiated with the seller by threatening to back out of the deal and we agreed upon a purchase price of 625k. Needless to say, the property appraised for 673k at the time.

I have the accessory dwelling being rented out along with the business office at market level rents. I had 35k put into the entire property to get market level rents. I occupy the single family residence portion myself. 

After rennovations, the total price tag for the property was 660k and it has recently appraised for 750k. Both units being market level rents have created positive COC, even while me occupying the single family residence portion.

I am under-contract with another property in the Sacramento, CA area. The intially purchase price was 490k. I have negotiated the seller down to 450k, along with the seller supplying a 5k credit, and covering the closing cost. The estimate for rehab is 15k. I am waiting on the appraiser to finish his report currently....fingers crossed.

I am projected to purchase another multi-unit in January, 2021 also targeting the Sacramento area.

Thank you Wayne for the advice, it was very helpful, much appreciated.

Good evening all,

When I am running my numbers on an investment property and I am supplied with the property tax from the owner, how do I calculate the increase in property tax based upon its sale? Also, will the property tax always increase upon a sale?

-Thank You

Hello James,

Thank you for the advice, it was extremely helpful. I am running the properties individually as we speak right now. How would I go about figuring out the increase in property taxes upon sale? Would I compare what the current owners taxes  on the properties vs. what realtor.com projects the taxes to be?

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Hello,

Does anyone have experience investing in Cleveland, OH implementing a buy & hold strategy with rentals?

I currently live in San Francisco, CA, which is beyond my budget to invest in.

I have $100K saved up, and have been trying to learn as much as I can about Cleveland’s rental market. I have been looking at a portfolio of 6x homes (11 Units) comprised of multiple single family and multi-residences.

I used BiggerPockets rental calculator and Rentometer on analyzing the portfolio and all the numbers appear to be solid. Also, when I used BiggerPockets rental calculator, I did my numbers based on one whole total of the entire portfolio. I am not entirely certain if I should run my numbers as one whole property or individually. I have a contractor in place (My father) already at a huge discount.

It should be noted, the bills are based on what the current owner of the property had sent to me. I am also currently waiting on photos of the properties to be sent to me. 

Thanks in advance!

Good evening to everyone on BiggerPockets,

My name is John Kenyon and I am a Police Officer in the San Francisco Bay Area. I am also a new investor, whom has been trying to educate myself about investing. I have been reading several investment books, viewing the listed resources on BiggerPockets, and obtaining knowledge from other investors.

I have determined I am mostly interested in multi-family residences, using a buy & hold strategy, BRRR, or a hybrid version. I am also interested and willingly to invest out of state.

I would love to network with other investors and learn as much as I can. I am looking forward to developing myself with the BiggerPockets Community.

-Thank You

Hello, could I also be emailed the same information? -Thank you

[email protected]