All Forum Posts by: John Korn

I need to replace a refrigerator for a tenant that i think may stay in house for a long time. Instead of just buying some $500 fridge has anyone proposed to give the tenant a $500 stipend to purchase a fridge of their choosing (that would still be the property of the landlord) in hopes they would buy something nicer and more expensive. I feel they may feel more attached to the home. This is in a $900 mth SFH. just curious

I've had a HELOC on an investment property through Huntington before. Give them a shot. I paid for a property in cash and got a Line within 6 mo of purchase for i believe 70 or 75 of purchase price. The rates were much higher than the line i have on my house.

I just want to say what help this site is!!  I just got a call from my tenant about this 5 minutes ago and looked it up.  Love it.

Here's what i'm looking at and wanting to get some input on BRRRR Deal.

Purchase price: $27K

Rehab:  $30K

ARV: $90k

6mo Cash-out-refi: $50k mort 

Rent: $950 mo

PITI after Cash-out = $442.88

CapEx/Repair/Vacancy = $142 mo (15%)

Net = $366

What do you think?  This is a new breakdown I could repeat in a different area of town than i normally work in.  

Would you take the full 70% LTV on cash-out-refi? it would provide additional $13k in cash but would increase mortgage by roughly $60 a month....

Inspection was listed as a contingency on contract. 

The bank saw something from appraisal they wanted fixed and requested it be evaluated by an inspector, I said "ok" already done during inspection so I  had Inspector isolate that part of report and send to me. Then all of a sudden Bank wants to see where inspection report. 

We are already 1 week past Mortgage Commitment Date and 1 till closing and Bank is requesting to see Inspection Report.  Has anyone had this happen before?  I've never had happen before except for this bank....which i will never work with again.  This is just one of many issues with (Dollar Bank).  Horrible.  

Justin, looks like we are on the same path.  I'm always game to connect, share and learn.  That's what it's all about.  

Hello BiggerPockets Community!  I am a new investor as my first deal was 18 months ago.  I like many I assume read books for a while but never dove in but now that i have I can't get enough and it consumes me.  My first 18 months have consisted of 6 rental properties and 1 flip, also closed on my first property the day we brought home our first child....busy day.  I thought that was pretty good until I see what other people are doing on here :)  I'm just trying to soak in as much as I can from the forums and listen to at least 1 podcast a day while i'm driving.  I still have a day job as a Medical Device Sales Rep.  

If there is anyone out there that wants to brainstorm possibilities in Pittsburgh, I'm game.  Also, really looking forward to learning how to get more creative with financing, finding private funding and overall acceleration of acquisitions to achieve my goal of being able to do this full time.