All Forum Posts by: Michael Keane

Kaylee, thank you! Any hints or teasers about the upcoming BP publication? :) 

Hello BP Community!

I've been a solo investor in multifamily and now I am bringing in 3 partners for my next investment deals. 

Looking for recommendations on resources (books, guides, etc.) on forming partnerships and LLCs for real estate investing. 

Any suggestions or guidance are welcome and appreciated. 

Thank you! 

 Thanks, Elliott. 

Hello BP Community! 

I am looking to purchase an investment property (duplex) and will be entering into discussions with the owner about a possible seller financing deal. I am willing to offer up to 20% above the asking price in lieu of making a 20% down payment.

Thoughts on this approach? Any sellers or buyers out there who have successfully closed on this type of deal? 

Hello BiggerPockets Community:

I am looking to purchase one (1) ticket to the BiggerPockets Conference in San Diego.

Please reply to this if you have a ticket to sell.

Thank you!

Hello BP Community!

I have completed rehabs on a small multifamily (duplex) investment property and the units are rented and cash flowing. Not I am getting ready to move to the next step in the BRRRR: Refi.

Currently, I have a 30-year fixed at 3.625% from the initial purchase of the property. 

With increasingly rising interest rates, if I do a cash-out refi, I'll lose the low interest rate. 

Does anyone have experience with taking out a HELOC on an investment property in lieu of a cash-out refi?

Advantages? Disadvantages? 

Welcoming insights on this...

Thank you! 

Thank you Torrell! 

Hello BP Community. 

I purchased a duplex for $260,000, putting down 25% ($65,000) on a conventional loan (30-year fixed, 3.625%) of $195,000. 

$56,000 of the $65,000 down payment was a HELOC on my primary residence. The remaining $9,000 was cash.

After rehabbing both units, I anticipate ARV to be about $370,000.

When in comes time to refinance, the principal balance on the loan will be about $192,500. 

I understand the limit is 70% LTV for a cash-out refinance.

During the refi, will lenders take into consideration the fact that I used a HELOC for part of the down payment during the original acquisition? Will this affect the amount of equity I can cash out?