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Joe Bruck has started 18 posts and replied 58 times.

Originally posted by @Nick H.:

@Tim Youse thank you for your input It has helped me make my decesion I went with the house in west Baltimore

How is it working out so far?

0 Votes

Will (commercial) lenders do a cash out refinance on a $80,000 rental property based only on a avm valuation?

0 Votes

Originally posted by @Nick H.:

Harborbank maybe someone you look I am currently looking myself, but a couple of experienced landlords recommend them might be worth a look.

I've spoken to harborbank today they told there balance sheet of commercial lending is near full

0 Votes

Baltimore, Maryland

Originally posted by @Roman M.:

Did it on 3 different properties 10 years ago. No issues so far.

How long did you pay the mortgage before transferring the deed to a llc?

0 Votes

Originally posted by @Account Closed:

stop paying, gut the house/sell everything of value, break their loan obligation in bankruptcy, see how they feel then.

Ha ha! that's funny!

0 Votes

Originally posted by @Tim Youse:

I sent you a PM for a local portfolio lender

I'd be interested for the same thing , please pm

0 Votes

Baltimore, Maryland

Originally posted by @Lisa Connelly:

Thanks @Adam Cherko I appreciate it. In doing more research I have arrived at actually a new question, which is, how to identify the next affordable rising NYC commuter location. I'm pretty sure I'm not the first to ask this. :) How far would I have to go outside of NYC to hit a location with single family units at ~$100K? Does that even exist? Still learning...Thanks

Did you try Jersey city?

1 Vote

Originally posted by @Jason D.:

Call around. I have a credit union that will lend to my LLC at 4.75% for 25 years. It's just a matter of finding the right lender for your situation.

Which credit union are you using?

1 Vote

Hi guys , nice to hear from fellow New Yorkers...

I bought my first turnkey ( rented ) property 6 months ago in Baltimore MD for $60,000 (cash deal)

$1000 rent / $80 pm fee per month , taxes & insurance $2250/year.

although I'm happy so far regarding cash flow , I'm upset the broker/pm ********ed me that the

property is worth $80,000... i contacted a lender to do a cash-out & the appraisal came back at only $35,000...

For you folks buying out of state... the above was my first experience

1 Vote

Hi all

Is there a way to refinance a property based on the state equalized value?

from what i googled it seems to be a few credit unions that will do a heloc based on

the SEV ...

0 Votes