All Forum Posts by: John Matthew Johnston

@Joe Villeneuve

Ok thanks Joe

@Joe Villeneuve

So if I buy the house all cash to avoid a mortgage during the Reno and then Cash out Refi 6 months later. Is that still a good strategy?

@Sean Pan Thanks a million brother!

We are nearing the end of the Refi process and our lender is asking to be added to our homeowners policy, apparently my insurance agent said this is normal but wants to do it the day of closing. My lender hasn’t given us a closing date and said she needs to be added to the policy so she can order the cd so she can get the closing date. My insurance agent doesnt want to have the lender on the policy for an extended time period just in case something happened claim wise and said technically the lender would have right to the claim I case of

Fire. Can anybody shed some light on this for me. Thanks in advance

Is 5% for a Heloc out of a primary a fair price?

Hi question about a rental property I own? One if my rentals seems to be having some foundation issues. I received a call from a tenant that the front door wouldn’t lock. I looked at it and it seems to be that the door does not line up with the latch anymore(Door and Jam less than 2 years old). On inspection I found small cracks in a couple of the rooms in the house that were not there before. I also found some slight shiftiness(Less than 16th of an inch) in a couple blocks in the basement. It’s

Definitely moving. It’s also on a hill. My question is who would I call for this ? A good contractor or a structural engineer? Any advice would be appreciated!

@John Matthew Johnston

It’s also Zoned commercial and comes with a acre of land

Deal numbers:

Purchase 55,000

Closing 4,000

Reno 157,000

ARV -200,000-250,000

Rent 1500.00 per side(duplex) so 3000.00/month

Taxes 3000.00

Capex 5 %

Repair 5%

Vacancy 10%

Everything will be done on this property top to bottom.

Would you invest this kind of money for these returns? Thanks in advance

@Ryan Mainwaring Ryan I would really appreciate that!

@Nathan G. Ok thanks! Appreciate your response