All Forum Posts by: Kaylee Walterbach

Hey all! A family member wants to sell two side-by-side properties and wants to know if we're interested. I believe they bought each for about $100,000 in 2020 (at those wonderful 2020 interest rates with conventional loans) and they're each worth about $200,000 now. We can't afford to pay out the $200,000 in equity upfront, but we don't want to involve a bank and lose the 2020 interest rates.

I know conventional mortgages aren't typically assumable. Should I be looking into lease options? Seller financing? Subto? Or is there another option for a sale within the family?

Thanks all for your input!

Thanks @Joseph Palmiero. What if we used the HELOC for the down payment?

Hey! I used a HELOC for property expenses. Is the interest on that HELOC a deductible expense against that property's income?

Amazing input, thanks all. Our loan on this property s at a miraculous 3.25% (thanks, 2020!) so it doesn't make sense to tuck that extra money away into this mortgage. Actually, our second property is at a much higher rate, and we used a HELOC for some reno, so it absolutely makes sense to put the money towards those first.

I guess our lender is just too good at convincing us to pay extra money that it distracted me from common sense... haha!

Hey all! 

I ended up with a unicorn LTR that cash flows a significant amount each month. We're looking at $745/month cash flow even after very cushioned expenses (vacancy/maintenance/capex). Obviously, we are THRILLED to have this property.

I'm curious: From a loan perspective, would it make any sense to pay off a little extra each month? Even if it's just $50-100. I've looked at all the mortgage payoff calculators and see how much money I can save in the long run, but it's hard to wrap my head around the pros and cons of doing this for a 30-year loan.

For extra context, we renovated the property and have a lot of equity, so there might be a time when (if interest rates go down) we do a cash-out refinance to grab that equity. That might make the extra monthly payments pointless?

Thanks all for your input!

Get it from the BP Bookstore for free bonus content! Storing Up Profits

Love to see some familiar names in this thread!

Hands-Off Investor by Brian Burke

Multifamily Millionaire Vol 2 by Brian Murray & Brandon Turner

Raising Private Capital by Matt Faircloth (revised edition coming soon!)

Keep your eyes on the BP Bookstore at the end of June 2023... you might see something you like! :)

You should check out Hands-Off Investor by Brian Burke for syndication info (it's extremely comprehensive)! Multifamily Vol II also focuses on large multifamily (10+ units). Hope this helps!

You could check out 30-Day Stay by Zeona and Sarah! A great resource for learning about MTRs.