All Forum Posts by: Jack Yvars

Hi does anyone have experience in charging tenants an application fee? I don’t want to be excessive but if it costs $15 for a credit check I would like to make about $15 per applicant for my time to show and process/ evaluate their application... does anyone know the best way to do this or what technology to use? It is legal to charge in my state. Thank you for your help

Does anyone know of a property manager in NH that deals with Airbnb’s? Anyone also have general info on the costs and whether they are effective? I am looking at purchasing a 5 unit on the beach and don’t want to micromanage everything.. thanks!

@Stace Caseria thanks for the reply... I do have the capital, but I’m buying a 395k property assessed by the bank for 330k.. I would want to structure the deal almost like a promissory note for 330k that I would pay to him for the title and property.. I would then take a mortgage out on the property for 395k and pay him 330k that we agreed on. Would I be able to do that?

Hi,

I am trying to buy a 5unit property from a guy who owns it out right for 330k... the property is assessed and valued at 395k... I am trying to do an owner financed deal where I pay him a smaller amount upfront and then refinance the property in 6 months to pay him the additional amount of money... I am just wondering if someone can help me navigate some of these finer details... ultimately my goal is to buy the property using less of my money that I have liquid now, and use the money that I’ll be making by buying the property with equity already in it

If I purchase a 5 unit commercial property with cash and I then take a home equity line of credit against it, are interest rates on that money normal HELC rates? Is that one way I can a solid paying a 7-8% commercial loan interest rate?

Is anyone familiar with the urban house development loans that are available? Particularly in NH... I am look for ways to use a banks or governments money, maybe even interest free for a certain period to rehab or improve properties and didn’t know if that existed.. thanks

I recently bought a home with an FHA loan a month ago and a few people reached out about possibly renting a couple rooms in the house to stay... an I allowed to rent out those rooms if I am living there under an FHA in such a short time horizon? Or is that a no-no because of what an FHA is supposed to be for?

Thank you!!

@Shaun Weekes I have to wait 6 months to refinance correct?

Hi, what is the % I can take out of a home if I am refinancing an investment property? I’ve heard it’s 80% but a loan officer told me 70%? Anyone done this and know the answer?

@Karl B.

Did they have to provide a hand written document before these requests? Or can they just respond to an email with my questions?

Jack