All Forum Posts by: Amul Sutaria

I worked with Gary Harris.  He owes me money.  

i also found propstream to be inaccurate. 

I just closed with visio yesterday on a refinance and the rate was 6.25 for 30 yr fixed, 5 year prepayment penalty, and about 4k in closing costs.  Was pretty painless process but the only downside was the the house didnt appraise (appraisal was $500) to what we wanted it to.  We wanted it to appraise at 150k, but it appraised at 123k.   I would definitely work with them again but the high interest rate makes me want to look elsewhere. 

im in the process of refinancing with visio atm. 

Hi Everyone, just a short and painful update. I had to fire my contractors and project manager.  Things were moving way too slow.  I hired a new one and it will be done pretty soon.  He's working much quicker than the previous ones.

Hi Everyone, I ended up basically gut renovating it.  Still in the works.  Should be done in a few weeks. But things are delayed due to Covid-19.  

Ill let you know how things pan out. 

Thanks for your replies everyone! I'm looking to get the largest return so I don't want to just sell it to a contractor for the lower cash offer.  

Maybe I could raze it and build a new home? I don't have that much capital though. Any thoughts on how I could accomplish that? HML?

HI BP!

My parents are selling their house in Paramus that they have lived in for 35 years.  I want to sell it and get the best price, but I need help on knowing what things to renovate (its very outdated) to get the best price. 

I need someone who knows the Paramus/bergen county market really well and can guide me what to do.  Thanks! 

If someone is working with someone good, no one is going to share that kind of info! LOL! :) 

hi BP!

Long story short, I was about to close on 2 properties and I lost my job. My lenders pulled out day before i was to close, and I was left to lose the deals or buy cash. I opted for buying cash and now I own two properties free and clear (well, I bought them with a line of credit so not exactly) under my LLC. One is a SFH (109k), and other is a duplex (126k). Yeah, a bunch of cash tied up...

Another detail is that I have 2 weeks more of pay from the job that let me go, basically a month of severance pay.  I got a verbal offer from another job, so if i start working there, I will have had no gaps in my employment.  

My goal is to leverage the free and clear owned properties and scale my rental portfolio.  But the question is.. how? 

1.  Getting a line of credit against the properties (but wouldnt that just be a line of credit against a line of credit, since i bought them with one?)

2.  Refinancing and pulling money out (but some lenders are saying I have to wait 6 months because I lost my job, but actually I havent had a gap in my employment)

What other options do I have?

Portfolio loan? Commercial line of credit?  I need to know the best option!