All Forum Posts by: Jacob Sloop

@Jesse Gunter

Sent you a message !

Sell it.

Mortgage of 1750 and rent at 1800 is more than losing a little money each month .. once vacancy repairs etc are all added up it’s not worth it in my opinion

Appreciation is entirely based on that specific property , nothing to do whether it’s a condo, SF etc.

The point, that’s already been made, is the association . They can raise association dues , call for special assessments , to let’s say replace all the roofs and for that reason they make unpredictable assets . I own one that recently experienced a 50 dollar monthly raise in associations dues …. Nothing you can do about it, even if the board is mid managing / over paying for services ..

That being said, they can be good assets but shouldn’t be the first choice

The word “assumption” keeps being used and just to be clear assuming a loan is different than subject to existing mortgage. Assuming the loan mean you are taking liability for mortgage where buying subject to leaves liability to existing mortgage holder

@Omar Ruiz

Thanks for sharing.

Hope it stays positive for you !

@Yogesh M sayanakar

I use Zillow rental manager, they also advertise on the other sites affiliated with them, and have had great success with amount and quality of tenant leads

This is a question your realtor should be able to answer.  If not, find a new one.

Talk to a local lender.

Cash out refi or HELOC

Both have fairly high rates currently so make sure the payments work for your strategy ahead of time.  

Also is this your primary residence? HELOC's on rentals/non owner occupied properties are getting rarer these days.

Not having a lot of capital is not a great position to be in trying to buy real estate, especially rental properties.  Having the proper amount of reserves is very essential to being successful.  This is an unpredictable business sometimes.

That being said if you have a good enough deal, you can find the money.  Find other local real estate investors and offer them some equity in your deal..  best place to start

Welcome!  BP is the best resource on the web !