All Forum Posts by: Hunter Motto

Hey friends- 

Making plans to Refi 3 properties we're holding that have higher rates and ~$300k in combined equity! In the COVID-19 financing climate locally, we're seeing higher interest rates for investment props and cash out products. We're deciding between:

1) Refi into lower rates and payments (1-1.5% lower) and then getting a HELOC on the equity - Pros: lower base interest rates, lower adjusted monthly payments, lower loan costs, HELOC applications costs are minor, not paying interest until the money is used for that next investment.

2) Cash out refi on all 3 properties - Cons: higher base % rates, higher loan costs, similar monthly payments, paying interest from day one.

3) 1st Lien HELOC - buy out the current loans balances with a HELOC with 1st lien - Pros: Even lower loan costs ($10-$15k less!), lock in rates on the balance used to pay off the loan, and continued use of 10 years revolving line of credit.

Are folks having problems getting access to HELOCs right now? 

What are concerns with HELOCs if we plan to lock in rates on the $$ used, pay down principle ongoing, and treat it like a loan (with the benefit of a revolving credit line)? 

Is everyone seeing higher rates for investment properties and CASH OUT refis? Why does Cash Out Refi come across on BP as the holy grail? :)

BP Forum Friends -

I'm looking for a commercial retail real estate agent in Seattle Metro (Downtown, Capitol Hill, Ballard, SoDo, Georgetown). Anyone caught wind of a pro out there or worked with someone who's a gem? Someone with significant experience in the retail space in town. We're looking for a 30,000+ sq ft space for lease or purchase option. Please share recommendations!  

I manage a building in Ballard and we're doing light renovations on all of our units (but good looking ones: floors, stainless appliance package, new paint, sing fixtures, updated bathrooms....no new counters). You will get $200-$300 more for a good renovation. I'd say post $100 less than than you want in rent and see if the tenant stays. 

In the next 9 months, seems like you see continued growth. The jobs aren't slowing....there are not enough places for people to live...there's an affluent tech class that continues to move to the city and want to live in the city because it cool. 9 months, there will still be growth. 9 years??? Well who knows. 

@Aengus McMillin I live in Seattle and have watched the market, viewed condos, viewed houses in the outer neighborhoods and crunched the numbers over and over and it doesn't look great in the city purchases. 

For a low time commitment house hacking or partnering up with someone else who is spending the time on the ground is probably your best bet. There are still some deals on houses along the light rail path that need a little love (not too much, flipping is usually a big commitment) but could be house hacked. There's a duplex in South Park for $370k but 1) that commute will stink and 2) appreciation in all of the greater Seattle Metro area is incredible, so something like that could make sense. 

If you don't feel comfortable or like the looks of independent investing in Seattle, don't do it! Find an alternative strategy.

Thanks Jake! Natalie is indeed super active (over 1k posts!), great recommendation.

I'm new to BiggerPockets community and excited to participate. I currently own 2 SFRs and (soon to be) 2 small multi-family buildings with a partner in Tacoma and Bellingham, WA (two secondary markets outside of Seattle). 

It's time for me to start managing my business systems better and wanted to appeal to forums for recommendations on an awesome accountant in this area (Greater Seattle Metro). Ideally, that person is a REI as well, who actively participates in the whacky buy/sell world of the Pacific Northwest. BP has one local CPA listed on their recommended tab, has anyone worked with Hunt Jackson? I've also seen a few other CPAs from this area actively posting.

I'm also in the market for a lawyer who is also an investor. Do those exist? They must :)