All Forum Posts by: George T.

I will be moving to Buffalo, NY this August and I am interested in purchasing a house in the Amherst, Williamsville, Clarence area close to University at Buffalo. I would be interested in getting a duplex in order to rent half of it or a property that needs renovation. Are there any good realtors and mortgage companies that I could rely on in this are? Please recommend.

Thank you in advance.

Thank you @Jeff Dulla for your recommendation. This is a vacation home so not an investment property. 

@Neil Da Silva I am from Toronto as well as I have recently reallocated. How easy is for Canadians to get a cash out refinance in Florida? Let me know and we can share our views as it seems like we are in a similar situation. 

@Harjeet Bhatti This is my plan for sure. I am planning to go down to Florida and shop around. As a Canadian, it might be a little bit tougher....

Hello everyone,

I am looking to refinance my Florida Property located in Port Charlotte. I own it in clear and looking to purchase some more properties with the equity in the house. What would be the best way to approach it?

Should I go to local credit union banks? 

What are the usual rates on this type of transactions? 

I am trying to do my homework before initiating the process.

Thank you,

George

@Ben Roberts The property is in Raleigh. Indeed, I will probably think that an investor would like to purchase it. From my information, I believe the current tenants would also prefer to renew their lease for another year. I am currently trying to find comparable and talk to some agents in order to get a good idea of the house value. 

@Jake Thomas Indeed, I am currently trying to get a close value of what the house could sell for.

thank you all for your input 

Hello fellow BP community,

I own an investment property in Memphis, TN. The house has been positive cash flowing very nice over the past 2 years, but I am looking into buying a house in my current area.

The property is managed by a turn-key investment property with which I had a very good relationship. My tenants lease expire in June this year.  

I would like to know what would be the best method to sell this property?

A. Wait for the tenants to leave, go there, prepare the house for sale?

B. Sell the house as an investment property with the tenant?

Any advice is highly appreciated.

@Alex Aguilar North Campus is not an easy market as the prices are quite high and students like to live in student complexes or houses (such as Sweet Home, Chestnut Villas, etc) . I didn't really find anything that would make sense on the North Side. 

@Douglas Skipworth Now is clear that the total amount is both county and city. thank you for the link. Indeed the estimates are very close to the real numbers

@Alex Craig Seems like the estimates are very close to the real numbers. Indeed the country taxes are extremely high, but as I have never lived in the area, I cannot say if they are worth it or not. It is a lot more clear now. thank you

Hello everyone, 

I am trying to figure out how the property taxes are calculated. As the mortgage company is currently taking care of that, i did not have to worry, but I would like to understand how they are computed. For example I own a rental property in Memphis, TN  in Shelby County. When I go on the official website of the county, I see two type of taxes: county tax and city tax with different amounts. What is the difference?

The millage rate is 3.4 for my rental unit. Is this considered above average or below? How do you quantify it? I known that the total appraised value is 114'900 USD and the taxable amount is 25% = 28'725 USD. So with a mill rate of 3.4 the amount of property tax due is 976.65 (which I see on the website of City of Memphis) but why the Shelby county tax is $1,255.28 USD?

Any help would be greatly appreciated.

George

Hello Emily, I went to school at UB and I was looking in University at Buffalo student market for rental. Indeed the two campuses are very different. The North Campus has some apartment complexes and villas. You can check some of them at the below website in order to get an idea of the location and prices:  https://subboard.com/och/apartments.asp

On the south campus, as Michael pointed out, you have to be very careful of the street you are looking to purchase. I knew some motivated sellers that were looking in selling some of the duplexes. My advice is to look on the following streets: Highgate, Lisbon and Minnesota. 

Message me if you would like more information..

All the best in your searching.

George

Hello Vikas, I am wondering what has made you get out of Buffalo area? Nothing interesting around University of Buffalo? I know Amherst is quite pricey, but South Campus might still be a good option. I am currently looking at some deals in that area...