All Forum Posts by: Louis Bratton

I say in this market buying the Duplex is a good first deal while the rates are low. Put down as little as possible, there are some low down payment option other than FHA but if you have to go FHA go ahead, you could refinance later (and they may even change the FHA rules about requiring MIP insurance for the life of the loan soon I here.) Put the rest of the money in reserves and continue saving for your next deal once you have some more experience or the market is favorable, but continue to look for deals because never know what may pop up.

If it is cash flowing and you get decent tenants then keep it and do a cash out refinance.  If not then consider selling it while the market is hot and moving that money into a better deal, if you can find it.

I remember seeing in the forums somewhere that TD Ameritrade does HELOC on investment properties. I've never used them but check with them.

I am familiar with the Tischer/Peach Creek quads.  I passed on one a few years ago for around 180k.  I wish they were at the same price now.

I have been primarily investing in Durham and Cary but I am interested in this area.  I went to a open house off of Lenoir a few months ago and by the time I got there the house was already under contract.  I feel like the prices are starting to go a little too high though for what I feel they are worth.

I have a VA loan also and looking at doing the same thing. I have about $224k 2nd entitlement left but I know the loan limits are different for multi-units. For instance in my county the max for a 2 unit is $543k. My question is if I am using 2nd entitlement to buy a Duplex do I have $$343k available or $224k? ($543-$200=$343) or ($424-$200=$224)

Christopher Phillips

@Christopher Phillips  Thanks!  The plastic inside the cartridges was all broken up.  I was able to to order the parts needed straight from Danze.

Does this shower faucet look familiar to anyone?  I need to replace it and I do not want to go into the wall to replace the whole thing.  If i put the handle on it turns, but its hard to turn, so I will need to replace all parts.  Some how it got destroyed. :(

This is How it should look...  The one below in the master works.

I have a few properties in low income areas and have my first section 8 tenant (after inspection Thursday, crossing fingers).   I agree that Section 8 is the best option in these areas because of all the points Patti brought up.  At best I would get $750 with a straight lease but with Section 8 it will be about $950.  There is always a long list of people waiting for housing so just screen as thorough as possible.  If you decide to go this route keep in mind you may need to make repairs every year after the annual inspection.