All Forum Posts by: Jordan Gerkin

@Jacob Sherman awesome thanks! 

@Andrew Zamboroski Okay makes sense. I appreciate the reply! I will send you a message, thanks! 

Okay I see, makes sense. Thanks @Brie Schmidt for your reply!

@Salvador Auciello thanks for the info! I'll send you a message 

Hi @Chris Seveney, thanks for your reply! Sounds great, I will send you a message. 

@Caroline Gerardo Okay great. And I'm sorry, I definitely made a mistake. One tax ID has 8 units in total on it (2 four-unit buildings), and the other tax ID has four units on it(1 four-unit building). Hope that makes sense. They are in good condition and fully rented, and my FICO is good. I will send you a message, thanks.  

Hi @Caroline Gerardo thanks for your reply! They do currently cash flow. I am in Illinois. So it's possible to get a 30 year fixed if its under 7 units? The tax ID where two of the buildings sit on are both four units each, so 6 total units. 

Hi @Ko Kashiwagi, thanks for your reply! Okay I appreciate your info. Do you know how I can tell if each has there own APN? Or is that the same as the Tax ID?  

Hi Everyone, 

I hope this is the correct form to post this on. I have maybe an interesting situation/thought. I currently have 3 four-unit buildings under one loan. That is the way I bought them because they were all from the same seller when I bought them. Two of the three buildings sit on the same piece of land that has one tax ID to it. But technically the two buildings have their own address. The third building is on its own piece of land with a separate tax ID. All three of these buildings are laid out the exact same. They are all basically identical to each other. Because I have them under one loan currently, it is a commercial loan and only amortized over 20 years and I have a variable interest rate. My thought and question was, can I get individual loans for each property and since they are under 5 units, get a regular conventional loan amortized over 30 years with a fixed rate? 

I understand there might be many opinions on this and many reasons why each person can argue their case depending on what each person's goals are, so I'm definitely open to hearing anyone's thoughts on what they might do. My thoughts are 1) I will have a fixed rate and not worry about it changing every 5 years thus helping me control my expenses a little better (of course aiming to secure a good rate whenever the rates hopefully come down), and 2) it will be amortized over 30 years and if I get a good rate, then my cash flow should increase by a decent amount. 

Any insight on this would be much appreciated. 

Thanks! 

Super excited about this event!! Having a few properties of my own that I self-manage, I am really looking forward to this topic to see how I can better manage my properties! 

So excited about this meetup! Evanston is a great area and very interested in hearing about the VA loan process!

Hey Jesse! I would highly recommend Sarita Scherpereel with the Straight Up Sarita Sells Team. She's a great agent and works specifically with investors. I used her for my property. 

@Sarita Scherpereel

Definitely! Looking forward to the meetup!