All Forum Posts by: Kelly M.

@Michael Dorey I definitely wouldn’t

@Tom Brickman try loopnet

@Sarah Lorenz I would hate to have you as a guest at my air B and B. I feel like there is always something people can find to complain about. These things seem a bit uptight. This isn’t your home.

Okay! That makes more sense. Then my loan would be 245 and cash out would be 100kish. This makes sense. For some reason I had a hard time getting my head around it . A 245k loan is super reasonable! Thanks  @Alex Bekeza

Hi!

I would like to BRRR my property but for some reason I can't get my head around the numbers.

Currently I have a commercial 5 year, 20yr amortization, 5.5% with a $140k balance.

I want to BRRR into a 30 year fixed rate and take cash out. I think I can get the property to appraise for 350k. If my lender does 70% LTV, I could take out $245k? Is that correct or am I missing something. It seems too good to be true.

Cash flow will support the higher payment. I currently have three units. One brings in $1575/month. One brings in $950/month and I’m renovating the third unit and should be able to get $650/month.

Can I really take out $245k or am I looking at it wrong?

Hi Everyone, I was wanting to know what sites you use to find your corporate rental tenants. I have been using Air B and B but wanted to look into longer term (but not long term) renters. The property is furnished.

Thanks!

@Ted L. I use the same paint color!

@Alan Grobmeier super helpful!!! Thanks!

@Michael Noto Thank you so much! This is so incredibly helpful!!!!

What income is appropriate for $1650 rent do you think? 

Thank you @Theresa Harris! I should say, “I will be happy to show you the apartment. What I’m looking for is a minimum income of x and a credit score above x. , etc”  something like that. I wish I had the volume to stack showings at this point. I’m wondering if my asking is too high.