All Forum Posts by: Josef Torkelsen

Appreciate if someone can help give guidance on our situation. We will seek CPA guidance before we actually commit. 

We currently own a single family home in Orange County. It is too big for our needs and we are on with moving into a smaller and much cheaper rental to save us about a thousand a month. Are the tax benefits for living in our primary residence similar to the tax benefits of using it as a rental? Id hate to save money on moving into the rental just to hurt us on the tax side. 

On my deals, I generally have three routes going in parallel...  One with a mortgage broker, one with a small local bank, and one with a large nationwide bank. I am doing two deals now and in one deal, the broker won and in one, the local bank won. The key though is that the banks, especially with commercial loans, will keep lowering their deal and making it more attractive so never just go with one bank and always shop around. 

Appreciate some BiggerPockets Community advice on which loan is better for our multifamily apartment complex.  We are young real estate investors and will be seeking to expand our real estate portfolio in the future:

15 yr fixed 3.75% down-payment 20%

25 yr amortized 10 yr fixed at 4% auto adjusting every 5 years down-payment 25% (no ceiling, no limits on amount of change)

Property Cap Rate: 8.7%

Cash on Cash for 15 Year: 13.4%

Cash on Cash for 25 Year: 5.9%

The different of the monthly mortgage payment is about $1100 a month.