All Forum Posts by: Marco G.

Let's say the bubble deflates. For those that have experience when that happens, what happens to rents historically? I don't think we will have the same massive mortgage defaults as mid last decade, but did people experienced declining rents then? When DO rents go down?

This would not apply to LLC owned properties but rather those purchased and held by an individual.

If it's on a 1-4 unit property you can get a 30 year residential mortgage in the 4.25-4.75 range. I find online lenders have the best pricing.

Hi all - 

I have properties out of state and flew out to visit them last year and check on things, including making sure my make readies were of good quality.  How/where do I account for/deduct the cost of my travel?

Properties are all held in my name.

Thanks!

Originally posted by @Patrick Rose:

I recently did a cash out on my primary at 2.875 for 10 years.

 Hi Patrick - where/with who?

Originally posted by @Daniel Foster:

@Marco G.

You should be able to get somewhere in that area.  I just refinanced an investment property for just under 4.5%.  Take a look at bankrate.com for a list of lenders with their posted rates.  The only issue will be getting a cash out refinance if you have more than 4 mortgages . . .

Everything I've been seeing and hearing has been 4+ because it's considered a "cash-out" to consolidate the HELOC into the first when the HELOC wasn't taken out as part of the purchase. At 4% it doesn't make sense on the numbers for me to do it because of the size of the balance on my first. Regular refi I have seen in my target range (which got me excited!).

Originally posted by @Brian Ewell:

Originally posted by @Marco G.:

They're a franchise, so make sure whatever you hear is about that particular office.

I considered them when looking in Dallas but found a cheaper option.

 What was your cheaper option in Dallas?

 McCaw Property Management.

How do you decide on the land/improvement split on new acquisitions?  My purchase price is about 30% higher than the tax appraisal basis, but the county conducted an tax appraisal in 2015 (last one had been 2012).  Can I keep the land value and add the difference between their appraisal and my purchase price to improvement value?  Do I have to use purchase price, or can I use my (higher) loan appraisal?  No significant improvements were made and those that were will be separately depreciated or written off.

I sourced my down payment on a series of properties last year from my primary residence HELOC and am looking to do a cash-out refi of my first mortgage and HELOC balance into a new 20-year mortgage. What kind of rates/costs are people seeing? I'm looking for something in the 3.5/3.625 range for it to make sense (my first is at 3.25).

Any leads would be appreciated.

Agree Credit Union is the way to go, and the terms you've laid out sound good.  What rate(s)?  Lock option?