All Forum Posts by: Isaac J Mork

What happened to the 25 year or 30 year fixed rates?

I don’t know that I want the financial risk of rates to go up in 5 years and it kills the cash flow and we are out in a panic sell situation or just operating at 0 cash flow.

Are there any tools or way to find out the balance of the current mortgage and interest rate on a property?

I had been looking at a 12plex if that makes any difference.

Is that easily found information if we wanted to propose a loan assumption or seller financing. 

Wondering if the strategy is to do interest only loans on commercial multifamily buildings? Principal payments aren’t going to be tax deductible. Or are you just happy your tenants paid like 90k of principal and all you gotta pay is $10k in taxes. I mean that’s like a 9x return right there.

But if tenants pay principal payments probably could cash out refi faster. 

But as we move down the amortization schedule 10-15-20 years. It’ll create more taxable income. 

I may have to discuss with a tax advisor. How to get the taxable income from multifamily to be 0%.

How's it work when you have investors help buy a property? 

create an LLP or LLC and the down payment percentages is the percent of ownership which is used for the same percentages on the distributions?

How's the bank look at that when you have several investors applying for a loan?

Month to month lease?

I’d considering raising the rent each month until they sign a 12 month contract or eventually leave 

See what it says in your lease agreement and discuss with your attorney but it may fix your problem for you. Or create an event worth eviction.

rents due on the 5th. I’d tell them rent next month is 3-5% more on the 7th. 

 I don’t think there’s much for meaningful difference in loan costs between a cash out refinance and a 20% down mortgage loan.

Bank is still gonna get there origination fee and fees for running appraisal. If there’s a difference it’s probably bank specific.