All Forum Posts by: Javier D.

@Darius White

Adjusted for inflation 100%

@Anthony Caiafa

I understand. In any case I still wouldnt count on this closing till its closed. Did buyer lock in his rate? 5-600k sale price has always been my most volatile price point in the past but im in dade county. Id have some back up strategies no matter how good a deal i think im sitting on. It cant hurt!

@Zaid Badabwan

Paying off heloc in these times doesnt mean that heloc will be available to you in the near future. One of the first things to get frozen are helocs in tough time.

Id refinance to pay myself the cash invested and pay off that 10 year amortized heloc. The less money in the better return. Very important that you’re cash heavy with this scenario. What does the property rent for? Id want to make some profit every month too. Compare your money in vs cashflow woth this scenario and find an amount that makes you happy with it. Dont forget to account for closing costs on refi.

@Robin W.

There’s no way to put them outside inside an enclosure? Its allowed in my area which has pretty strict code requirements. Id stay away from tankless for rentals if possible.

@Anthony Caiafa

I’d definetly charge a small amount for an extension. Reasoning not being some minor expenses you’re incurring, more os this buyer looking for an exit. I’d have a back up plan of what happens if this doesnt close. Its a strong possibility. Can you cash out refi? Rent it to cover expenses? Fire sale? Whats your no loss exit amount. Not trying to be pessimistic but look at the whole board and have plays ready.

@Jay Hinrichs

I too am going to gamble a bit spread out but havent jumped in yet .

My big gambles will probably be Norwegian who has a high cash position. I like oxy for oil very low right now. Mgm . I looked at boeing but theyre coming down from such a high price i dont think they areneven worth what its at right now.

Also will def buy some disney, capital one, and the vanguard small cap index fund just because i think itll get hit the hardest and come up the strongest.

Also against everyones advice i love fnma.

@Scott Mac

Agree with you. I dont think this tacking on two past months onto rent payments will play out how some landlords here think it will. Im not going to freak out until the 5th of next month. Depending on how that plays out Ill see to what extreme I need to address this issue.

I think scrambling to build up adequate reserves for those who dont have it would be a priority right now. Scale back cap ex, trim fat where possible, .

Ive read here to have tenants put rent on credit pcards or tack it on to future rent payments...I dont think that’s going to play out how they think. No evictions and playing hardball with tenants during a pandemic is bad juju. Hey you owe me 4k soo can you pay me or will you just find another desperate landlord to move into his property negotiating down their requirements of first, last and sd.

Kindness pays my friends.

I personally could not have had a worst month for this to happen to me. 4 units full gutjob. Cap ex a parking lot, Supposed to close on a 12 unit march 31st and 90% vacancy on my properties(usually 98% occupied) due partly to the 4 rehabs.

Annoying but glad I have adequate reserves. I figure I will work with tenants on a case by case basis. From a kindness standpoint wrapped in greed I will most likely be forgiving of any fees, partial payments etc.

More vacancies forced on by raising rents 30% may not be the most financially savvy solution.

There’s no easy solution unless this whole thing plays out as I expect it to where we’re in full lockdown for 2 weeks and then its back to business as usual. In that case ill probably discount a portion of rent and go to war with my mtg/insurance companies.

@Ahmed Youssef

Does the deal make sense to you with 10k cash more into it. Can you do better on a diff deal with the change in cash upfront you’re putting up.

@Chris Oligee

Banks use delaware for their foreclosures.

Ive seen big hedge funds do this as well.

This isnt legal advice. I would def consult with an RE attorney. I have my properties in Florida and just do Florida llcs. I think liability insurance is 10 times more important.

@Masud Khan

Download an amortization table and do a side by side comparison. Now on the 30 year put sending an extra payment towards principal.

Id never do a 15 yr mortgage.