All Forum Posts by: Joseph King

Thanks for replying I will look into both of these!

Hey Guys! I am also looking hard between Sacramento and Stockton. Would love to pick your brains. I am in San Mateo. Wes I need to talk to you pronto. Everytime I read your post they are very well thought out and "Pump me up" for investing! Joe

Thanks for the reply. Like I mentioned above: My mtg is a 15 year amortization PITI $1,300 
Pay the PM $84 (8% of rent) 
Rent is $1175 The 1300 is everything. Tried to make it simple income and expense. This doesn't include my capex the house is 2006 and I have not had any issues yet. With that said you could say capex on this home would be an extra $50-100 month added to the expense. I can sustain this negative cash flow for another 9 years but it doesn't make sense too. Why when you could have a positive cash flow or break even by extending mortgage to 30 years, increasing rents maybe by 75-100. Use the cash out refi that I originally invested to buy another investment. All along this person is paying down my asset? I need a local broker/bank in Raleigh that anyone recommends to refi this property? Joe

My question: I have a SFR that I bought in 2006! I have had same tenant in their with no vacancy. My mtg is a 15 year amortization PITI $1,300 Pay the PM $84 (8% of rent) Rent is $1175 House is work approx 190k Loan is at 98k I want to refi and pull my original invested amount of 26k out and extend mortgage to 30 and raise rent to??? Any advice? I'm not cash flowing obviously when you run numbers and it bugs me! I don't want sell just cash out refi so I pay no capitol gains. Advice: 1. Lender recs. In Raleigh area 2. How much should I raise rents 3. Does it make sense to extend loan to 30 as I have 9 years left or so on loan 4. Any other input you might want to add? Thanks for you help! Joseph I want to buy a duplex triplex or quad in a market that makes sense with this money and capitol that I have saved!

Hi-

Does anymore have recs on an awesome attorney and CPA in the San Francisco Bay Area? I need to change my CPA and find a knowledgable person that understand Real Estate. 

Thank you,

Joe

Yes, sometimes questions can take different tangents- I guess lol. Thanks for all that answered my question. I have been off BP for a bit educating myself. And still plan for MF 5 units or greater. I recently "found" more cash. Now let the search begin. Need to turn on my alerts again.

Joe 

Bill- Give me a call

Kelli D. Hi. Can I get your contact info please.

Hi all- So I have been extensively looking at multifamily properties in Sacramento. Does anyone know the best A/B neighbors to focus on? Also, the HOA's seem like they can be hefty?

Kelli D. I also having Ben looking at Multi Fam in Sac. I actually almost put and offer on a place (4 units) a few months back that went south. Let me know if you have any inventory you suggest. Chris Kirk I have been in need of a property manager as well.