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All Forum Posts by: Nadir M.

Nadir M. has started 64 posts and replied 437 times.

Post: Cash out refi or no?

Nadir M.Posted
  • Posts 441
  • Votes 96

Hello everyone

I currently had some of my rental properties appraised as I’m looking into cash out refi…

What thought process is usually taken into consideration to determine whether cash out refi is a good idea or not? I may have another investment that I want to pursue so I can use this money towards that. If not, then it’s nice to have money and use it when the time permits. I will be losing roughly $300/month in cash flow doing this. Will these houses appraise for more in the future? Probably. Will interest rates increase? Maybe. Who knows. Any suggestions/insights are greatly appreciated.

@Ashley Reynolds

I’m actually an out of state investor. I live in CO. Would not mind chatting at all.

@Ashley Reynolds

So they’re building a $500 M renovation around 72nd and dodge that will be completed in 2024

@Joseph Hammel

Photos updated

@Gary L Wallman

Photos updates

@Gary L Wallman

Have you ever had a tenant who smokes stick to their word when they say then don’t smoke inside. Stating that it can be a firm part of the lease etc

@Joshua Viksman

I I’ve that.

Post: Inherited tenant is a smoker

Nadir M.Posted
  • Posts 441
  • Votes 96

@Maritza McKinney

Disregard last paragraph…not as easy to reply back on phone lol

Post: Inherited tenant is a smoker

Nadir M.Posted
  • Posts 441
  • Votes 96

@Maritza McKinney

Since smoking is prohibited…here is what I would do. I would talk to her and tell her that if she wants to renew once the lease term is up, which she prob will want to being there for 10 years, then she has to pay for the cost to remedy the unit of all the damages caused by the smoke ie cleaning of walls or having to paint the entire property…again whatever will get rid of the smoke to your liking. I just had this happen to one of my properties. The tenant was smoking which she shouldn’t have been. I hired a professional company to clean all wall and ceilings. I removed all carpet and replaced it. The house now smells great. If she agrees to the charges or what ever you want to plan with her, then she can renew her lease. Just an idea. If you don’t have carpet then it’s a much cheaper compromise. I was surprised how effectively cleaning of the walls and ceilings actually did to the smell.

I suggest this approach because she MAY pay …instead of her leaving and then trying to get her to pay or collect after the fact, which is always more difficult. If she’s been paying on time then it’s worth brainstorming this approach. If she does leave, then you can use her deposit to remedy the problem. It’s a tough call

I suggest this because she may pay instead of her leaving, trying to get her pay or collect after the fact, which is always more difficult. If she’s been paying on time then it’s worth brainstorming this approach. It’s a tough call

@Tim Miller

Pictures will be updated professionally tmrw. I installed a garage door opener which is very appealing … but the lack of one isn’t appealing by any means. Trying to do some landscaping to hopefully help draw in some tenants