All Forum Posts by: Mohan Dag

Ashok Rajasekaran The market I see here is that cash flow properties are not in that good schools or neighborhood and the ones that has potential in appreciation (good school districts) but do not cash flow.

Upen Patel I have PM on financing options for a new investor that don't qualify for conventional loan.

No prepay penalty. I will start looking for portfolio lenders in Charlotte, NC.

Thanks Stephanie Potter and Steve Black for good inputs. What is the prepay that you were asking, I didn't get it. Sorry totally new to the financing terms. Can I refinance with conventional loan when I qualify next year or Is it better option to pay it in cash now and refinance later next year?

It is my first investment property purchase contract for a duplex. I am looking for my options for financing for better cash flow per month. The property is worth 110k and I am willing to put down 20%. I have 800+ credit score and no debts. Since I recently switched jobs from fulltime to contracting, I am not qualified for a conventional loan with any big banks. As for commercial loan, I am getting 15yr amort with 7yr balloon at 7%. Are there any other options for me to get better rates to increase my cash flow?

Danielle Fattizzi and Ken P. Thanks for your inputs. The side that is renting on one side is section 8 hence it is not up to market rent which is easily 750 and above in that area. The property is about 30yrs old and in decent shape. I am thinking of getting the opinion from property management companies in the neighborhood and decide if the reward outweighs the risk.

Crime index of 4..with 100 being the safest. In other words, the city is safer than 4% of the cities in US.

PITI is for 15yr commercial loan at 7%.

Hi, I came across a duplex in Monroe, NC. The asking price is 105k. PITI: 950 Potential Rent: 1500/month. ( 750 on each side) One tenant that is in pays 650 now. But the location is grade C. It is one of the less safer areas near Monroe downtown. Though I am planning to give it to property management so I don't have to deal with the tenants, I am skeptical to buy as It is my first investment property. Anyone share your thoughts?

@Manish_Shah. I would do my due diligence on existing market rents in that area and add in all the costs associated for a rental property to calculate my ROI.