All Forum Posts by: Remo F.

What's the maximum amount of mortgages a person can have?

I should be able to attend

Great advice, thank you!

I take it the everything else account handles expenses, mortgages (if any) etc?

Hi,

I'm curious to how some of the landlords on here handle their finances.

Do you have one bank account that receives rent or multiple accounts for each property?

How do you handle expenses? Do you use a separate account or separate credit card for each property or same  that covers all?

Do you have another account to separate and put aside money for IRS?

I would be interested to get an understanding as to how some landlords/Investors handle multiple rental properties and what method works for them.

Holding 

Hi Guys, I've come across a great deal in Brooklyn that on a 2 family. It won't pass an appraisal. It's $500k and I'm looking to out down 10% and get a hard money loan. Can anyone refer me to a lender with 90ltv? I currently have 4 properties which I'm not looking to refinance at this point in time for other reasons. Any details or information. Is greatly appreciated. P.S I've checked the list of hard money lenders on bigger pockets however I would like to hear from someone who's actually used a lender.

I can say I went for mixed use due to the price being cheaper than the residential and I don't regret it. I have other residential buildings. When it comes to financing mixed use I'm not in favour due it falling under a Commerical loan. Downpayment for me is the same but with closing costs not being bundled into the loan, plus points mean more cash to close. Plus the terms in general are not as good as residential. They tend to be 5/10 year ARMs. Try and steer for mixed us that have three rentals instead of just the two, it can take a while to rent a Commerical space compared to residential, which I'm sure you already know. Something I didn't know before buying a mixed use unit, you are required to have your boiler inspected every year and should it be replaced you MUST file for a permit to replace boiler or hot water heater.

Can I ask why mixed use? I recently purchased one. Financing is a little tricky and requires larger downpayment

I'm an investor so if you come across any deals please send them to me, I buy and hold and rent out for cash flow.

Can anyone give me some tips for vrbo? I'm getting bookings on Airbnb and I'm on vrbo but I just can't seem to close a deal on vrbo. I receive inquiries, I get back to then within minutes but I never hear anything back. I'm actually wondering if my messages are being received. Btw is vrbo the same as home away?