All Forum Posts by: Josh Bloemendaal

Hello all, I’m ready to do a HELOC on a duplex that I’ve renovated and wondering if local banks are the way to go or what the best strategy is for getting the best terms. Thanks!

@Jason Lee Thanks Jason that is all great advice and much appreciated!

Hi all, my wife inherited an apt about 30 years ago from her great uncle and never got the title put into her name. It’s had tenants and she lived in it for 7 years out of the last 8. It’s a Co-op and now that we’re married I’ve convinced her to sell it and invest in something that doesn’t require a ridiculous HOA fee every month. Is there a cheaper streamlined approach to this or do we need to go through the whole probate filing and attorney hiring which I believe will be around 5K? Then we’ll basically have to pay closing costs again selling it right after. All we have is an original will left by her great uncle 30 years ago. Any tips/ advice is greatly appreciated!

@James Stinnett ok well that definitely sheds some light and sounds like he’s right in there so thank you very much for the input!

Hey guys I’m selling a studio co-op apt in West New York NJ. The realtor that lives in the building wants to list it for me and says it’s worth around 185 but wants 6%. This commission seems crazy high to me but I’ve never sold anything on the east coast. Isn’t it supposed to be closer to 3%? Should I try to sell it myself? The market is crazy hot and there’s nothing else in the building for sale. Very nice building with a pool overlooking manhattan. Thanks for your input!

Hey guys I’m selling a studio co-op apt in West New York NJ. The realtor that lives in the building wants to list it for me and says it’s worth around 185 and wants 6%. This commission seems crazy high to me but I’ve never sold anything on the east coast. Isn’t it supposed to be closer to 3%? Should I try to sell it myself? The market is crazy hot and there’s nothing else in the building for sale. Very nice building with a pool overlooking manhattan. Thanks for your input!

Hey guys I’m selling a studio co-op apt in West New York NJ. The realtor that lives in the building wants to list it for me and says it’s worth around 185 and wants 6%. This commission seems crazy high to me but I’ve never sold anything on the east coast. Isn’t it supposed to be closer to 3%? Should I try to sell it myself? The market is crazy hot and there’s nothing else in the building for sale. Very nice building with a pool overlooking manhattan. Thanks for your input!

Hi all thanks for the many responses! We actually just locked in a 5% even with a small local lender! Sounds like this is unheard of at this point so we’re very happy. 

Cheers! 

Thanks so much everyone that replied. Looks like I’ve found another local lender that can get us 5.1 which I’m very happy with. 

Cheers!

Hello all, I've got a fourplex under contract in Montana and have started shopping for a local lender. My wife is the primary borrower because she has a 75K nursing job and an 800 cred score. With 25% down and a 30 year the first lender offered 5.6 which seems very high no? I was expecting somewhere around 5% for a four unit investment prop. Am I crazy? We also own a VC duplex in CA (financed) as well as a studio in a NJ CO-OP rental outright. We also live rent/mortgage free. Not sure what the going rate is these days, I heard they recently went up but would love to hear some thoughts. 

Cheers 

Josh