All Forum Posts by: Michael Bettencourt

@Moritz Bode my favorite value add is reconfiguring an awkward space. Dropping a wall, opening up a floor plan or moving a bathroom door out of a kitchen often are easy fixes that can dramatically change a space.

@Sebastian Boruta I never buy without 3 possible options in witch I could at least break even. So if A. was STR, maybe you could B. find a value add where you could flip if A doesn't pan out. Or C. Rent for at least a break even with an appreciation play.

@Bryan Mitchell I’ve installed every type of counters in my rentals, and NOTHING is cheaper then laminate. Possibility cheaper materials but install will be 5x on granite, concrete and tile.

@Henry Lazerow TAXES! as an investor projections are everything and when there’s no predicting the property tax is scares investors away. Taxes are also causing the decrease in population, 30 years and you finally paid off your house to still pay $1200 a month on a $500k home.

@Jaden Adams do both, expect take in NO debt to do so. I would get as submersed in REI as possible and take classes as Junior college. 100k in debt is crazy!

I was told and increase of

.5 for cash out

.5 for non owner occupied

.5 for multi family

I guess some more valuable info is the property will definitely NOT cash flow after the cash out refinance. I’m pulling $ out to improve properties that are cash flowing in the mid west.

@Justin Ganzer was that a multi family investment property?

@Luke Goodman are you willing to share a point of contact and the and the name of the Bank. Thanks

@Dennis M. As cheap as I can. I was just uneducated and thought a cash refi rates would be closer to conventional. People always gripe and say to be thankful for the rates you are getting (which I am) but it would be dumb not to shop around. The difference between %4.75( the current rate on this property) and 5.55% is over $300 a month. There is more than one option for me to gain funds and finding the lowest rate is part of determining my best option. I’m sure most people would do a little research before assuming an additional $300 debt for the next 30 years.