All Forum Posts by: Kasondra Milton

Aww glad to see so many Rochester investors! I have 7 multi-families in the city. 

DC area (Sterling,Va) - Bad tenants of my SF townhouse gone! Purchased prior to market crash but it's rebounded quite a bit since then. Rehabbed for 12k. Equity 125k. Sell & use 1031 exchange proceeds to buy 4-5 MultiFams in lower priced area or cash out refi, buy just 1 MF, and  keep for equity growth? 

Lower priced market - MF cash flow is typically about $600-$700 per house after mortgage and expenses. Low equity gains. I already have 12 units in the same area. 

SF Townhouse- refinance will have mortgage plus HOA, with cash out, at $1450. I can rent for about $1850-$1900 now that it's rehabbed. Area typically sees above average equity growth. 7 mins from Dulles airport where the metro is about to open.

I lose some equity will both scenarios with closing costs vs 5% realtor fee for selling. Sale price is approx. $290K.

@Alexander Felice I'm new to bigger pockets. I have 5 rentals so far. Can you expand on what you said to Alex? "My suggestion is to wrap as many as you need to hit 250k and take a commercial loan out and buy some more (if possible)." I don't know what you mean when you say "wrap" them and then take out a commercial loan to buy more. I know the "for dummies" breakdown? :-)