All Forum Posts by: Joseph H.

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One idea you may be able to do depending what you were doing and how you wanted to approach it. You could possibly encase the old style KnT in plexiglass once the wiring was replaced and show the historical aspect of the house as a show piece? It would be disconnected and safe but it may be a conversation starter, or could be a neat historical feature. Some outside the box thinking. I am not familiar with KnT or how it is setup. It should be replaced for sure. 

Something I may want to know is where they stand or feel on investing. 

There is a ton of good info in this thread! 

@Steve Vaughan

Will you expand on what you said? What is the UCC and where did you file?

This is a 6-plex, and I am looking to offer $35,000 on the property and put $100,000 into the property. I am having trouble calculating the GRM and or NOI. How would I calculate the entire loan when I am coming out of pocket for some of the rehab, and what is the best way to calculate the GRM; I am pulling up different numbers.

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I spoke with PenFed, and they will not do a HELOC on an investment property; only your primary. I did find a lender who would lend a HELOC on an investment property if it was a single family style property. No multifamily properties.

@Lien Vuong Will you message me more info on the LOC?

Check with the authority having jurisdiction (Fire Dept/inspections) for what edition of the life safety code, and fire code they go by. That will be your best bet from a firefighters perspective.