All Forum Posts by: Joseph H.

I had a duplex (over/under) renovated that is an older home. Duct was Not originally installed in the home and went with a mini-split unit upstairs and a window unit downstairs. The mini unit works well if it is the right size. From the research I have seen they do not do great below 32 degrees, but I cannot confirm this since this will be the first year we use it in the winter. Last winter when we first had it installed we needed to add more charge to the unit for proper use (about 8oz I believe). Now that it is charged it worked great over the summer, quiet, and cools the rooms accordingly with ceiling fans. Both units are a 2:1 and run around 800sq ft each. Do your research if you buy one and get one that is just bigger than you will need. 

Are you talking like a pyramid scheme kind of? That may not be the proper term for it. 

BP has a calculator you can play with the numbers to best suite your needs. Go under tools, calculators then pick the one you need. 

You can look for a partner, or it depends what you want you can do Private Money Lenders, or a commercial loan. Those will look at other factors outside of your income. Check with some of your local lenders and see what they offer. 

You can find cheaper appliances at outlet stores if you don’t mind some scratches or small dents. They usually have a small warranty of 30-days or an additional you can purchase.  If your timing works out you can do Black Friday if you want brand new. 

What do your numbers say with your plan? Numbers don’t lie, and it prevents you from making a mistake by taking emotion or bad advice out of it. 

@Devon Jeff What @Jaysen Medhurst said. Do some checking with your local banks. I am refinancing mine under a commercial loan. It does cost a little more for the inspection and appraisal but if you've are not living in it and want them to remain under your LLC that may be your best option.

I am going through Community America CU for my refinance. I dont know if they are in your area but they do smaller loans, and up to 80% ARV.

Shop around for other local lenders and smaller banks. I am in a similar situation. Bought a house for $13,000 and put some into it with no loans on the house. I found a lender that will loan out $30,000 minimum which works for me when I cash out refi. Talk to credit unions. I haven’t used them but I hear good things about Pentagon Federal Credit Union. 

@Ashley Zhang That leaves you with a handful of options. I would start reading books on RE and network with your local REIGs.