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All Forum Posts by: Mo Muigai

Mo Muigai has started 21 posts and replied 83 times.

Post: Interest rate of 5.75% on investment property???

Mo MuigaiPosted
  • Rental Property Investor
  • Minneapolis, MN
  • Posts 85
  • Votes 21

@Peter Kimani this is my 3rd property so definitely won’t be able to make that happen. Nitext saba sita tatu saba nne mbili tano tano nne nne tafathali

Post: Interest rate of 5.75% on investment property???

Mo MuigaiPosted
  • Rental Property Investor
  • Minneapolis, MN
  • Posts 85
  • Votes 21

@Jill F. Makes sense for such a size through LLC. This one is one SF for $70k and it's me not LLC

Post: Interest rate of 5.75% on investment property???

Mo MuigaiPosted
  • Rental Property Investor
  • Minneapolis, MN
  • Posts 85
  • Votes 21

@Tom Ott definitely right! This is Bank of America 😯

Post: Interest rate of 5.75% on investment property???

Mo MuigaiPosted
  • Rental Property Investor
  • Minneapolis, MN
  • Posts 85
  • Votes 21

@Jonathan R McLaughlin it’s regular conventional 30 yr fixed for a single family investment property. It will still cash flow about $200 but just didn’t know if that’s normal or too high. Loan amount is $58k on a $70k property

Post: Interest rate of 5.75% on investment property???

Mo MuigaiPosted
  • Rental Property Investor
  • Minneapolis, MN
  • Posts 85
  • Votes 21

@Cameron Tope yeah it’s conventional with 20% down 30 yr fixed for an investment property with Bank if America. Will keep shopping

Post: Interest rate of 5.75% on investment property???

Mo MuigaiPosted
  • Rental Property Investor
  • Minneapolis, MN
  • Posts 85
  • Votes 21

@Timothy Hero it’s actually conventional via Bank of America

Post: Interest rate of 5.75% on investment property???

Mo MuigaiPosted
  • Rental Property Investor
  • Minneapolis, MN
  • Posts 85
  • Votes 21

Recently closed on residential with rate of 3.5%. I know investment properties run higher rates but is 5.75% a bit too high or that’s typical? This will be my first purchase of actual investment property.

Thanks!

Post: Foundation issues on prospective property

Mo MuigaiPosted
  • Rental Property Investor
  • Minneapolis, MN
  • Posts 85
  • Votes 21

@Daniel Smyth if I can upload one I would, don’t know how 🤣😬

Post: Foundation issues on prospective property

Mo MuigaiPosted
  • Rental Property Investor
  • Minneapolis, MN
  • Posts 85
  • Votes 21

@Bob Prisco it’s so tricky in my market I don’t know what to do! 😩. Or should I make sellers pay closing cost?

Post: Foundation issues on prospective property

Mo MuigaiPosted
  • Rental Property Investor
  • Minneapolis, MN
  • Posts 85
  • Votes 21

@Brian Pulaski absolutely! No major cracks that were readily visible