All Forum Posts by: Joe Chambers

Thank you for your reply @Upen Patel.  When you say it isn't going to be good terms, can you estimate what they might be, please?  Thanks

Good news, I closed on a condo in Wrigleyville that will turn solid positive cash flow each month.  Bad news is that I couldn't obtain a conventional mortgage because the building (55 units) is over 50% rented.  Granted I didn't shop around a lot for a lender(probably a mistake).  

Having said that, is it going to be really difficult to find a lender/bank to offer a cash out refinance 6-months to a year from now if the building as a whole is still more than 50% rented vs. owner occupied?  Thanks in advance!

Thanks, DJ.  Agreed!

Thanks, Jim.  I appreciate your response.  I'll be searching for that unicorn!  

As a buy and hold investor, do you think it's wiser to buy a property that will rent easily and provide a positive cash flow from month 1 but most likely not increase much in value in the next 10 years or a property that will be harder to rent but will likely increase in value in the next 10 years?