All Forum Posts by: Nazz Wang

Hello. I have a Wisconsin property with two buildings on a lot and the front building had a fire in December last year. I have collected the entire insurance payout and had started demolition in April. The back building is a duplex with no damage and both units are tenant occupied. The utility lines did not get damaged and have been fully functioning. Then I received a surprise bill with this message.

"WE Energies gas removal cost is $4,500. They have to bore from the alley to extend the gas service to the rear house, in addition to moving the gas meters on the rear property to the south side of the house to be in a more safe place. I (contractor) also, have to removal the retaining wall to give them access to complete the process (cost $4,252). I will need the check from the owner to get this process started by next week Wednesday. "

Has anyone experienced this? Any suggestions on who to hire to fight this?

Thanks everyone.

Hello community,

I am looking for direct lender recommendation for a few Fannie Mae cash-out refi's with 30 year fixed rates. I am interested in recommendations for companies that can work with only 1 year of self employment income. If you know one, I would love to hear it. Thank you.

Nazz

Hello everybody. I am looking for recommendations for virtual assistants to run a direct mail campaign for me. I am looking for someone who has a lot of experience and success in mail campaigns that can help me put a good list together and run the entire mailing portion. Anyone has any experiences with any good candidates? Thanks!

Hello everybody. I am looking for recommendations for virtual assistants to run a direct mail campaign for me. I am looking for someone who has a lot of experience and success in mail campaigns that can help me put a good list together and run the entire mailing portion. Anyone has any experiences with any good candidates? Thanks!

Do a regular fannie or freddie loan witg a direct lender, like wells fargo or similar, and you will het your 30 yr amort easy. 

If you are maxed out on the number of loans, try credit unions. They have portfolio loans of similiar terms.

I liked starting out with managing my own properties for a few years. I changed many kitchen faucets and even a few toilets. It gave me the knowledge about what it takes to manage a rental so I can better manage my managers. But, it depends on your situation. Would you be able to manage your manager?

@Scott Rist

Purchase with cash -- > rehab with cash --> lease out --> talk to lender -- > appraisal --> title work --> Sign loan docs --> receive wire for cash out funds.

A lot of things can go wrong in each of these steps but this is the general process.

depends on a lot of things. Your property location, you credit, your networth andbincome, the property financials, type of property. Best case scenario you need to show a signed year lease and get an appraisal for the property. Mine takes about six weeks for the loan process when I wrap up five properties in one loan. I would assume similar for one property.

2 out of the last five years as of today. 

Or you consider doing a 1031 exchange to defer capital gains after renting it out for two years. 

Theoretically, if you find a spouse with the interest and income to match, and only take out loans in your individual names, you can do it 20 times. =)