All Forum Posts by: Jessie Niu

@Adam Robinson

@Paul B.

I am going to have $50~$100k cash from cash-out refi, what's the best way to find credible syndicators in my local market?

@Richard Biechler, congrats on the accomplishments! My goal too to acquire 50 units within 3 years! Now I have several duplexes.

I am more interested in the financing:

1. How did you fund your down payment? Did you pull any equity out of the earlier properties to fund the later deals?

2. What kind of loans did you get for financing? Are they local lenders?  

@Samir Shahani, my guess is that $30k/month is total rent?

$30k/month rent for 54 doors, which is $555/month per door. It sounds like rent. $30k/month is definitely not NOI.

Buy a SFH and do house-hacking.

I personally will never buy a condo because of HOA.

instead of staying in the same apartment, why not buy a duplex/multi-family and owner-occupy one unit?

 Sorry I didn't make it clear, what I meant was will county's low reappraisal value affect bank's appraisal when I apply for cash-out refi later? 

 566%?!!! Wow! That's crazy!

I am thinking to do a cash-out refi on this duplex, will this reappraisal affect my appraisal value ? 

@Kevin Noesner

I did a complete rehab on one of my duplexes, the re-appraisal value actually went down, I think the reason is probably that I bought this REO property couple of years ago with a very low price, and I haven't done the Re-finance yet. Would the reappraisal go up had I re-financed it (did the complete BRRR)?

any thoughts on this?

I don't really care about credit scores much when screening a tenants, my rentals are in C area and unfortunately most of those renters have low credit scores, which don't necessarily make them bad candidates. So far, all my tenants are great with no issues.  

$50-$70k is not bad, you can't find anything within 1-2 hours of where you live? Besides, you don't have to a all cash purchase, financing plus your $50k can give you some options.