All Forum Posts by: Matija Cukac

Hello BP community,

We have property for sale and under contract at the moment. Closing date is before loan due date but I wanted to know what are my options if that goes sideways?

Thank you in advance.

I forgot to put the purchase price.

It's between $1.04m to 1.2m with appraisal between $1.3m and $1.65m,

Hello,

We are looking to partner up on a off market deal that we came across. 

Numbers look like this:

Taxes:                                                       $22010

Insurance:                                                $5000

Water:                                                       $3243

Sewer:                                                       $3177

Electric:                                                      $2100

Garbage:                                                    $3912

Management, vacancy, capex, repairs      $21600

Current Income :                                        $177600

Market Rent Income:                                 $225600

If you have any questions, reach out to my email or my cell.

Thanks,

Matija

@Ante Vujic Thank you for the reply! I think I'll try to do something like that. I'm in talks with my evictions attorneys. 

p.s. sent you an colleague  request

I have a possible situation on the horizon. Closing on the 2 properties with 5 units all together and inheriting tenants with the property. I'm aware of the ways how to evict someone and what is the easiest way but I'm trying to find a way to get them out after I take over. They are month to month and paying very cheap rents at the moment, around 50% of market prices. What is your advice on how to get them out in a nice way and what legal steps I have to take to do that? 

Thanks @Josh Keeney, so if I have 5 properties I can do a commercial loan at 70 or 75% of ARV or just get the cash I invested out?

Hello everyone,

My partner and me are purchasing 2 properties this month and 3 more following next month. As we are financing all of it through HML we want to refinance it and do popular BRRRR strategy. Issue here is that I don't have tax returns to get a regular mortgage and his income is around $50k. What are our options? One option that we talked about was a portfolio loan right after we get a fifth property and get our cash out but then we can't refinance at higher % and get some some money out. Issue there is they require seasoning of at least 12 month and that doesn't work with HML.

I hope I made myself clear and someone has a good advice.

Thank you!