All Forum Posts by: Michael Bettencourt

@Shaun Weekes my fico floats around 800 the the property value is between $650k and $700k I owe $346k

@Justin Farman crazy that’s the second quote around the same number. My credit score hovers around 800. I was surprised I was thinking it would be closer to the rate of an investment mortgage.

Just today got quoted %5.55 for a %70 LVT for a cash out refinance on a 2 unit investment property in CA. Seems high being I just bought a duplex at %4.35. Thoughts?

@Shan Vincent had/ have the same blessing. Some people thought I was crazy for selling a cash flowing property in San Diego, but to me cash on cash return is an important matrix. You could make significantly more putting that $500k in a CD. I do like the heloc option PENFED had the best options for rental properties but they do not lend if you own more then 4 properties.

@Joshua Parinasan are you Stationed here? I’ve invested in Gurnee and Kenosha in the last 2 years. Kenosha is blowing up (just drive the 94) and is a healthier economy/ demographics than most city’s in IL. With that Kenosha is competitive and properties move fast and usually sell for close to the list price. You can find solid B class duplexes most areas both in WI and IL but 4 plex’s around here tend to be in rougher neighborhoods or far from Great Lakes. Another option is buy large newer house with a walk out basement, get as many roommates as you have bathrooms upstairs and Air BnB the basement.

@Erin Auman find what your unfair advantage is and exploit it! We all have strength and weakness, partner with someone who compliments your weakness. Be patient and Learn something new everyday and doors will open!

Finish it! The hard work is already done, especially in that nice walk out, high ceiling basement. I would just try to find room/ egress for another bedroom because a 3bd 4ba is just weird. Obviously a lot of local factors come into play.

@Eric Michaels great info! If home values go down won’t the % of tax paid stay the same or increase to compensate for decreased revenue; as the cost of running the city didn’t decrease and lord knows government becoming more efficient isn’t an option.

@Karen Margrave I’ve got a bunch of equity at 3.70 interest that as of late I could wrap my head around pulling it at 5+ %. Even a small drop I’m pulling it for a down payment on 4 family or greater.

Thanks! We’re the reductions you saw due to the decrease in home value? Or and actually decrease in % if assessed value?