All Forum Posts by: Karoly Holczhauser

@Ethel Alimbuyao

NjLenders, I can refer you, if you wish

Purchased property in 2018 Q2, $50k downpayment; $200k loan; price was $249k

Right now I have 30 years fixed, 4.375% ARP ; $1533 / month as payment (p&i + tax incl) ; 225 HOA / m

Option 1: 30 years, 2.8% ARP; $1340 / month (p&i + tax incl) as estimated payment 

Option 2: 30 years, $30k down, 2.8% ARP; $1240 / month (p&i + tax incl) as estimated payment

Option 3: 15 years ; 2.5% ; $1840 / month (p&i + tax incl) as estimated payment

Option 4: 15 years ; $30k down ; $1600 / month (p&i + tax incl) estimated payment

Unit is being rented as of now for $1650 / m until 2021 July.

I am not sure I can rent it out for more than $1700 / month. I would like to have unit to pay for herself over the years, without the need to put $100-$200 there in every month to match mortgage amount. 

I am in favor to put $30k down for 15 years, so I can have this as a savings for college to my son. Is it a bad idea to increase equity with refinancing? I never heard that people do it, it's usually the other way around. 

Any advice is highly appreciated. 

Dear all,

I’m new in real estate and I’m on the look for my second property: I would like to go for a foreclosure, if possible .

Did any of you used auction sites such as Hubzu or Auction.com?

- Can these sites be trusted?

- Do I have to check the title and the property before bidding? ( how I do that)

- Am I able to step back from the bid without problems if I don’t like the property?

- Do I need an agent ?

Thank you very much

Karoly

Bad blood:

It’s about how a Silicon Valley start up lied to everybody about their revolutionary technology in blood testing.... caused $700 million in damage.

Dear all,

First of all thanks for your ideas and replies, I am very grateful.

I am considering Tampa area and/or Miami area too. Duplex and the vacation purchase is a great idea, I loved it. 

I am not a handyman myself, but I could afford some minor maintenance on the house after purchase. 

Do you recommend to negotiate on REO with banks? Is it comes with lower price?

Hi all,

So I am quite new in real estate, but I am motivated and dear to dream BIG:)
I live in New Jersey right now, but I would like to move down to Florida in the near future (within 2-3 years).

I am wondering what could be the best strategy to start in order to acquire my next property. 
From the top of my head I have the following ideas:
- buy from market (expensive and I believe there should be a better way)
- auctions
- try to buy directly from the banks
- look for tax deed auctions? 

I would like to ask for your advise, what strategy would you recommend in order to purchase a real estate out of state. 

Thanks,

Karoly

Hi all

I am brand new in real estate investment, I already read my first book :) 

I need some clarification on house hacking:

I have been told that once you are own your primary residence you can't buy a 2nd property with the intention of making that a primary residence, UNLESS you are selling you actual home. 

Does anyone have any experience in this?  Is that true?

Also when you are buying your first property with owner-occupancy, you must actually move in there, correct? So basically you can't house-hack, only if you physically move in.

Thanks,

Hi members and friends, 

My name is Karoly and I am a brand new member on this website. Within a couple of month I would like to purchase my first fourplex property. As you can see I am a brand new player in real-estate investment, so I just started to read Brandon Turner's book: Rental Property Investing. As per his recommendations I started to evaluating deals. One/two deals per day.

I started creating my first excel sheet yesterday, but the numbers are not make any sense, I see that my CoCROI and other ratios are very low. I would highly appreciate if someone could download this excel of mine and check that am I doing the right thing? Did I make any error during the calculation? In case you have any suggestion, please let me know! As a beginner all I can do is one thing: LEARN :) 

Link to my excel sheet: 

https://drive.google.com/file/d/1VmWHE8YxOF4Y6gqno...

Thank you all very much,

Karoly