All Forum Posts by: Karan More

Looking for out of state investment. NY looks good at few spots. Any lender who had experience over NY ?

I have 30k which planning to take a Airbnb property and then rent it out. 

Let me know if any lenders have experience or can help.

Thanks @Devin Petersonand @Mel F..

This would be my 2nd property. Planning for househack using HELOC of my 1st.

So thinking if it’s ok now or later 

Hey guys

Planning for buying Multifamily in a month. But seeing that interest rate may go down, thinking would it be good to buy now or wait?

If I buy now then I get 8% APR, then after 6 months I would cash on refi. Assuming rate would be 6% at that time, would it be good to work this out

or wait for 2-3 months and then work to buy.

any thoughts?

@Matt Devincenzo I agree. I plan to use HELOC for buying duplex as house hack and then refi to cover it@Andrew Postell

@Andrew Postell 

the thing is that bank1 is giving me lower rate for short term. I am planning to use HELOC for short term. Only thing is that bank2 gives MORE 13k which looks convincing. So just need guidance on what if someone experienced would have choose?

Hey Ryan

What are some ways which helps to push equity of 1-4 Units?

Hey Guys,

I am still new to real estate and how to choose HELOC's. I did my work on checking some local banks and their information on HELOC and all it comes down to two main points :
How much LTV
How much APR
Overall 10year draw period and onwards repayment period is there. No other cost of process. Taking 4-6weeks to complete.

Bank1 gives me 7.99% for 1st year and then 8.5% later onwards.
Bank2 is giving me 9.5-10.5% APR with 85% LTV. 

Example:
Bank1 gives 80% LTV gives me 50k as HELOC on 7.99% APR for 12months and then 8.5% APR afterwards.
Bank2 is giving 85% LTV that is 63k HELOC on 9.5% APR. 

So difference is coming out as 13k. 
What should be considered over here, better APR or better HELOC LTV amount to choose?
What is good in terms of getting HELOC, better APR or Better LTV or both?

nice analysis. What area is this one if you dont mind it telling?

Hey @Ryan Muska I am going for HELOC because my interest rate is below market value.
And it seems that I might not use full equity so not going for Home Equity loan.

So what does cash on refi of a duplex depends?
Does it depends on either of the following or both:
-Rehab of both sides
-having a good rental income irrespective of rehab

Hey Guys,
I am new so still in learning phase. Planning to take out HELOC from my 1st property where I stay and using that to buy Duplex. Going to use house hacking and stay there to rent out other part. So going to rent out my 1st property as well. My question are:
-What are the things to do for making duplex good for cash out refi? 
-Which are key points appraisal look while calculating for cash out refi?
-How do guys work around duplex to get as much as cash flow?

I know CT properties are not much appreciating are in terms of duplex, so going to see as it as CF opportunity.
Any suggestions would help for sure. 

Thanks All,

It looks like all say to go for Multi-family. I have my 1st home for around 1.5years. Thinking to take HELOC out of it and use it to buy a duplex or triplex nearby. Can I use FHA over this deal? Or I think I have to pay 5% down and then live there for 6 months until I can do some rehab and rent it.