All Forum Posts by: Nadir M.

Thanks for the reply. To my knowledge, it was lit during the walk through. What concerns would you have with that? Also, how would you write up your lease in regards to a business being run inside the house? 

Good afternoon 

Did a yearly walk-through with one of my tenants and I found that he is running a business in my property. This is a clothing and shoe business so nothing illegal to my knowledge. I believe he is running the business strictly online. No where in my lease does it say that no business can be conducting. I’m thinking of adding an addendum to make sure that for next years lease, he know that this can only be conducted online. Thoughts? Should I be worried? 

Also, the tenant does smoke. It was made clear that smoking can not occur inside the rental. During the walk-through, they lit many candles. When asked about it, they said they like keeping the house smelling fresh. Not sure if I buy it, regardless, having that many candles is a fire hazard. I heard some Landlords have a clause saying they can’t light candles. I mean this tenant always pays on time. I’ve had no issues. What’s everyone’s thoughts on what my next move should be

Thank you 

@Joe S.

This wasn’t a flip for me…it was delayed brrrrr. Costing me about 5k to refi two homes…not bad

What's everyone take on the BRRRRR method? I think it's a fantastic idea but I'm beginning to hear more and more investors against it. Shouldn't be leaving money in your property. 75% LTV or even 80% isn't enough. Losing more money in long run. I disagree

@Curt Smith

I agree and I am. Took me 2 weeks to close on this cash out refi. Absolutely love my lender. I like to have cash in the account to invest as soon as I need it. I plan on investing it as soon as something comes up! I wish I had more doors, but I still have my day job for now, so I can afford the loss of CF to help me scale so I can go full-time RE

@Joe Villeneuve

Cash out refi makes more sense to me because I still get cash flow and another property or asset

@Joe Villeneuve

All valid point. Leaving equity in property yes which doesn’t reduce my Cf even more. I can always sell to get that equity difference out. To me it’s a good method to grow quicker instead of the steady CF on a monthly basis

@Joe Villeneuve

Hi Joe,

There seems to be a bit of confusion. I would never cash out refi if it meant losing enough CF to put me in the negative. I’ll still be cashing flowing over $500 on one of these properties AFTER the cash out refi. I’ve also have enough equity in this property to actually get my money back plus some. So technically got this property for free. My main question was whether to cash out refi and trying to invest it vs the amount of CF that I’ll be Losing per month. I wanted to basically learn the strategy others use when it comes to thinking about cash out refi as this is my first rodeo in the cash out refi world

Thank you

@Joe Villeneuve

Cash flow before refi vs after. It’s made sense to me to go on with it because of a different investment I’m trying to be a part of

@Joe Villeneuve

Cash flow before refi