All Forum Posts by: Christopher G.

Thanks fellas.  Currently working with one of my property management companies that actually sells, buys, and manages properties, also will arrange for repairs.  A one stop shop and I've worked with them since 2006.  Going to try and purchase a condo through them on the lower end of the scale to test the waters before I hopefully move onto more and bigger deals.

Thanks!

Hey everyone, I'm currently stationed in Germany on active duty. Own a few SFH rentals and flipped a few, still a newbie. My wife and I plan on staying in Europe for a few more years but we are looking into purchasing a 2-8 multifamily unit either in TN or NC around the large Army bases where we have previously lived and know the area. I have a trusted realtor at each location as well as management firms that I currently use. The management firms will arrange for necessary repairs after purchase and then take over managing the place. I would not be able to get a first hand look personally, would rely on realtor and inspection report. This is risky I know, looking for what are the immediate concerns that make you experienced investors cringe at this idea.

Thanks

Thanks Jon and others.  I'll keep working the phones for lenders...with the original loan a 15 yr @ 2.5%, I know giving up that rate only makes sense if I can find another great deal

Thanks Jon, I should have been more specific. The SFH is worth $150k and I owe $50k. So when I talk to a bank, I need to ask for a cash out refi? (Sorry, never tried to pull money out) Realistically, with 70% LTV average on investment properties....I can expect to get about $70k out?

Thanks. Banks acknowledge I have 100k in equity based on what it is worth vice what I owe.

@Ernesto, thanks, didn't realize it's cash for a BRRRR first...so do you know of any way to borrow money against an investment property?

Hey everyone. I am trying to take a loan, HELOC or Home Equity, on the equity that I currently have in an investment property, own 4 total. Two banks have turned me down. PENFED said that they won't give HELOCs/Equity loans on investment properties when you own more than 3 and Chase said they only give up to 50% loans on investment properties if they get an exception to loan on an investment.

I thought this was part of the BRRRR method? Question I have is how do I pull the equity, about 100K, from an investment property and use that to purchase another property? Thanks everyone

Chris