All Forum Posts by: Frank Rizzo

I am a buy and hold investor. Over the past 2 years I have acquired 9 units/4 properties. My primary residence is a single family with 2 rental cottages on the property. I added a lot of value to it and would like to do a cash out refi or get a heloc. The problem I am having is my DTI. The more properties I have the higher the debt. Even with them all cash flowing, the DTI goes up with every property. I understand that i may be hitting the end of the line with getting personal loans. The question is how can i get personal financing to do a cash out refi with a DTI of 55%? Any imput is much appreciated?

Hi, 

I just closed on a 100 year old primary residence for my family and I, the property includes 2 rental cottages that will pay most of the mortgage when rented. To get top dollar I would have to install a washer/ dryer. The problem is the plumbing system, they both have their own 500 gallon (or less) cesspools according to the inspection. (I am going to have to install septic at some point...but not today.) My question is, will a 500 gall cesspool be able to handle  a small energy efficient washer/dryer to a studio-1bd (max 2 occupants)? Thank in advance for the feedback

Thanks for the feed back everyone, I think ill give it a shot!

I own 3 properties, and have been paying an agent to handle showings and fill my vacancies. The one month broker fee is eating into my profits and is proving to be unsustainable. I recently read "landlording on autopilot", Mike Bulter suggests allowing potential tenants to view his properties alone using a lock box, or in my case key pad lock entry, my units all have keypads that I can program one time entry codes. This system sounds like a good idea in theory. But does it really work well? Do potential tenants destroy the property? steal? What about liability? what if someone gets injured or attached while in my property? Does anyone have experience with this set up?

I own a couple of long term rental properties 60-90 minutes from where I live. I don't use a management company and am trying to create systems to run my business without driving back and forth all the time. I am thinking about putting in smart locks with key pad entry. Since I am not paying tenant wifi, I would have to rely on the blue tooth compatible locks. Does anyone have experience with this type of setup?  or can I have the tenant hookup to their wifi and trust them with master access to erase codes after contractors are finished (I will always have a master key)? Also are they worth the cost ? 

Thanks?