All Forum Posts by: Michael Czepil

Hi guys, I hope you may be able to help me out here. I just moved to the New Orleans area and am looking to buy a duplex to owner-occupy for the next couple of years. My credit is above-average, but my base salary is only going to get me a small amount of financing, and from what I am being told, my commissions will not be accounted for until a history of them develop. I am originally from Australia, so my question is, does anybody have experience in having a mortgage cosigned for by people in a foreign country? Is this even possible?

Thanks everybody,

Mike

Thanks Bill, I was reading about bridge loans the other day and that did seem like something I could make happen. Thanks for the reply

my email is: [email protected]

Hi Michael, great to hear from you. I would definitely love to have a look at the lease that you use as well as the property manager's ones. I am looking to buy an owner occupied fourplex here in the near future and am really just trying to get up to speed with legal side of things. How do you find buy and hold investing up there? I am down in Thibodaux at the moment. Do you invest elsewhere?

Who here is familiar with Louisiana landlord law? I found this document: http://www.ag.state.la.us/shared/viewdoc.aspx?type=3&doc=220 which seems to be fairly comprehensive. Is there anything in particular I should be aware of? Any Louisiana landlords on BP?

Thanks guys, appreciate the feedback.

Hi everyone, I'm looking to buy a fourplex as an owner-occupied here in the next few months and I have a question regarding financing. And my question is, how would you fund the value-add part of the deal?? For example, if I were to find a property for 125k and it need say 25k to paint, lay some new carpet, add a washer and dryer etc., how would you raise that 25k? Assuming I would put 25k down and take a loan for 100k, would the value-add 25k came from savings? Would you take out another loan? Could you somehow work it in with the first mortgage? Thanks guys, looking forward to the feedback.

Thanks guys. I have been reading through different apartment reports to see what drivers they are paying particular attention to in regards to specific markets. The ones that are stated over and over seem to be job growth, population growth and absorption. Then if those are positive your would start evaluating future land use, ease of access, future development etc.

Hi guys, just looking to see what your thoughts are on analyzing the demographics of a particular market. In the reading I have been doing, the factors I have typically come across are: income, occupancy, employment rate, median housing price, rents and age. Is there something I am missing there? Or is there a number different than those I mentioned that helps you paint a good picture of a market?

Thanks for the feedback guys. I will go to my banks this week and enquire about increasing my credit limit a bit.