All Forum Posts by: Neil Tollner

Thank you Alli! Appreciate the insight. We’re going to rehab the current bathroom (instead of adding bedroom and extra bath) and then move onto the next 2-4 family.

hope you’re enjoying the nice SD weather!

Yes very helpful thank you Jevon, Bruce, and Theresa! Big debate with my wife and I. This clears it up and we’ll be into purchasing our next property instead. Have a great week ahead!

Thank you Bruce! Appreciate your help on this

Thank you Jevon.. this is 1100 sq ft. We’d turn the biggest bedroom to the family/tv room and convert the current tv room with an attached nook into two 10x10’ bedrooms

Hi All!

curious if I should: 
- rehab a nice 2 bed 1 bath to a 3 bed 2 bath

or 

- buy another multi family and rehab later

we have a 2.875% rate on our multi currently. Would do a cash out refi after the Reno at whatever rate that may be then to use on next property.

Thank you  in advance for any insight

Hi All,

I own a 2 family (4 bed 2 bath; 2 bed 1 bath for each unit) 

Brings in $4800/month. 1560/month cash flow

Deciding whether to build up and underpin the basement to make each unit have an additional 2 beds and 1 bath. Making the multi family a 8 bed 4 bath.

This would bring the rental income to 8000/month.

my guess is construction most likely will be 100-125k. what would you do if you were in my shoes? Thanks in advance for any insight!

What up everyone! Bought my first multi in September.
Looking for a CPA that invests in real estate. Any and all recommendations are appreciated?

Thank you!

Neil

@Avery Heilbron thanks for the feedback and congrats on the house hacking success so far. Appreciate the vote of confidence of holding onto the condo as long as it cash flows.

Thanks for your thought process around utilizing the HELOC. Your outlook makes perfect sense. I feel with house hacking instead of SF primary, I can cover the 3.5% down payment at without needing the HELOC. If I ever do need it.. I'll be sure to remember that thought process to ensure the cash flow covers it. Noticed you do a MF blog as well. Going to check that out this weekend.. thanks again

@Bud Gaffney thank you and glad to hear you started on a similar route. Hope everything is going well.

I'm most likely will house hack. The reason why I thought of putting 20% on the primary SF is due to the PMI. What percent would you recommend putting down if you were to go that route? Also, out of curiosity..do you manage your properties currently or do you have a PM for them?

I plan to manage the condo, but wondering at what point you feel a PM would come into play based off the time commitment . Obviously the cash flow would need to make sense. Thanks again for any feedback