All Forum Posts by: Frank Kosiba

@Matthew Porcaro Thanks Matthew. I plan to research this product to see jf it will be a fit for me. Appreciate the note.

@Sean Pan Thank you - I’ll look into these and see if they may be a fit. Appreciate your insights!

@Sean Pan This is helpful and I had an idea this might be the case. That being said, what options would I have to fund a purchase and rehab on my primary? As mentioned I have funds available to do this but would prefer to preserve those for adjacent real estate investments.

Looking for some advice on finding some rehab on a primary residence I am looking to purchase.

Curious to hear folks thoughts on structuring a deal to purchase my primary residence and get funding for rehab work.

Scenario is that I am looking to purchase a SF home that needs some work, say 10% of the purchase price, for updates like new flooring/kitchen and bathroom rehab/landscaping/bathroom remodels. All of these should force appreciation and add value. What my initial thought was do a conventional loan to purchase the property, utilize hard money to get the work done and then refinance out to pay the hard money off. Once completed the home shouldn’t have an issue appraising for what it needs do given its red hot. Also looking to buy the home off market.

I have rental properties with equity but do not want to use those funds.

Are there specific challenges regarding using hard money on a primary?

Curious to hear others thoughts.

Thank you -

Hi Ashlie - happy to share my experience. Although I haven't pulled the trigger with the actual re-fi, I made a great contact and can recommend him as someone very knowledgeable that may be able to help.

Shoot me a PM if you'd like to know the details and my contact.

Thanks!

@Natalia Soares

I did - PM/DM me and I’d be happy to share my experience thus far.

Sure thing, Bud. I will keep you updated.

@Jack Dalrymple Awesome, thank you Jack. I’ll reach out to your contact tomorrow. FK

@Natalia Soares Thank you - I will check this forum out! Have a great weekend.

Frank

Happy Friday BP folks -

Does anyone have any local (to Boston) banks that are currently doing investment property re-fi for a mult-family at 80% LTV? Ideally, I'm looking to get a referral to someone at East Boston Savings Bank or other community type banks. I'm happy to pick up the phone and dial 10 banks, although I prefer getting referred in by someone that's used them or has a connection.

Feel free to PM/DM me or comment here and I'll reply asap.

-Frank