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All Forum Posts by: Luis Valdez

Luis Valdez has started 34 posts and replied 64 times.

Post: My first tenant is moving out

Luis ValdezPosted
  • Rental Property Investor
  • NJ (new jersey)
  • Posts 68
  • Votes 11

New to this process.

Does anyone have a system in place with documents to provide a tenant whenever they move out?

Thank you in advance!

Post: Can I refi if I have a first time home grant/loan from the state?

Luis ValdezPosted
  • Rental Property Investor
  • NJ (new jersey)
  • Posts 68
  • Votes 11

Has any one refi with a first time home grant/loan from the state?

Post: Dealing with tenant issues

Luis ValdezPosted
  • Rental Property Investor
  • NJ (new jersey)
  • Posts 68
  • Votes 11

@Matt R. Sorry for the late response but this is really informative. Thank you Matt.

Post: Tips when refinancing Multifamily

Luis ValdezPosted
  • Rental Property Investor
  • NJ (new jersey)
  • Posts 68
  • Votes 11

@Andrew Fernquist thank for your feedback. The property is residential and improvements consist of adding new central air to both units. Updated appliance, add exhaust fans to both bathrooms.

Post: Tips when refinancing Multifamily

Luis ValdezPosted
  • Rental Property Investor
  • NJ (new jersey)
  • Posts 68
  • Votes 11

I've done improvements to my multifamily and I am looking to refi. Loan officer is asking for the value of the property. How can I give him an accurate price with going over or under the value of the home?

Post: Dealing with tenant issues

Luis ValdezPosted
  • Rental Property Investor
  • NJ (new jersey)
  • Posts 68
  • Votes 11

Tenants energy bill is over $600! They have their ac set to 72.... Idk what to do. Any suggestions?

Post: To Tax Liens Investors

Luis ValdezPosted
  • Rental Property Investor
  • NJ (new jersey)
  • Posts 68
  • Votes 11

Investors love stories whether they are good or bad would you agree? Does anyone have any experience investing in tax liens? If so can you please share your story?

Post: Refinancing my first property

Luis ValdezPosted
  • Rental Property Investor
  • NJ (new jersey)
  • Posts 68
  • Votes 11
Originally posted by @Jerry Padilla:

@Luis Valdez

Did you make any other improvements besides the HVAC? Are there any other  improvements you can make to force appreciation? Owning the property less than 1 year, may not increase the value to what you are hoping for.  Underwriters are going to want to see that improvements were done to significantly increase the value of the property. 

Hey Jerry, I made minor improvements such as adding exhaust fans in the bathrooms to both units, & landscaping. Why owning the property less than on 1 year does not increase the value I would like?

Post: Refinancing my first property

Luis ValdezPosted
  • Rental Property Investor
  • NJ (new jersey)
  • Posts 68
  • Votes 11
Originally posted by @Dan Gamache:

@Luis Valdez just reread your comments. You had value of 233K before improvements. What is current value after improvements?

Honestly just speculating correct me if I'm wrong but the hvac was 10K total. Do I just add it to the purchase price?

Post: Refinancing my first property

Luis ValdezPosted
  • Rental Property Investor
  • NJ (new jersey)
  • Posts 68
  • Votes 11
Originally posted by @Dan Gamache:

@Luis Valdez How many units in building? What is the Value and what loan size are you seeking?

2 units, value at 233k before improvements. Full amount?