All Forum Posts by: Isiah Ferguson

thanks

with a free & clear property. Where do I go to pay my yearly property taxes ?

exactly right @Jeff Dulla. My business is so premature I don't have the 2 previous W2's to prove my income. So the bank I didn't find is while too loan me based off of my assets 

Thank you guys. 

Thank you guys. Everyone is appreciated. Okay this is the situation. I know I somewhat didn't approach my first deal correctly buying a turnkey at 81% ARV. Moving forward I found a bank that will refinance based on my credit and assets (the duplex). Both sides of the property are being rented with my gross being $1,200. My business is only 4 months old. The bank is willing too refinance the appraisal value at 70% with 8% interest. Doing the math on a mortgage calculator with P&I and taxes my mortgage payments should be roughly 700$ and cash flow at 500$. This bank specializes in investment properties rental 30 year and fix and flips. How is that a good deal to move forward with the BRRRR concept ? Or maybe I can find a better with a different bank with better rates ?

Thanks guys, you are appreciated. Any other suggestions ? I'm all ears. Thanks

credit at low 700s. It's an 8% 30 year fixed.

Great points, thanks. I have a bank now who's potentially willing to refinance at 8% interest and LTV of 70%. Sounds about right to you ?

Thank you

Yeah I get it.