All Forum Posts by: Hannah Costello

Thank you everyone for the great advice! You all answered my questions. We currently have our loan sitting under our LLC and would like to keep it that way. So it looks like a DSCR refi would be the way to go. Thank you all for your help!

Hello, my partner and I are curious about the requirements that lender's request to do a cash out refi an investment property into another investment loan. Do they require things like proof of cash reserves, credit, employment, etc? We've had our property for 2 years now and believe the value has gone up a lot. We would like to use the money towards our next purchase. Thanks in advance! 

@David Lee Esh yes please, I would really appreciate that.

@Blaise P. Yes that is the system I am getting done. I am thinking of just going the electric baseboard route for now, but I may try and get one more quote for the mini splits to see if I can get them any lower! Thank you for your insight

@Nathan G. I was willing to splurge with the mini splits if it was going to be a couple of thousand, but with the quotes that high it’s just not realistic! You’re right, I am probably just going to install electric baseboards for now. Thank you!!

@John Carbone and asking the Amish, is a great idea they are hard workers! Thank you

@John Carbone I’ve never heard of the Mr. Cool units, so they operate on their own and don’t need a heat pump? I was going to call and electrician to see if they would install the mini splits, but based off of what you said maybe a handyman could do it too. I want to get this done asap, but I don’t want to get robbed on the price! Thank you for your insight, much appreciated.

@Bill Brandt they quoted me for a 2 ton unit outside and 2 mini splits inside. The second quote was for $10,700. But that still seems crazy expensive!!

@Kenneth Woodruff They quoted me based off of a 2 ton unit w/ 2 splits. This property is in Reading, not too far from Lancaster. Could you please send me who you used? That would be wonderful! Thank you

@Jill F. Okay I thought so too! Thanks for your insight. I wish I could install one on my own, it’d save me a lot of money!