All Forum Posts by: Nick Cresci

I think I would ask my self what role are these properties going to play in my retirement. Do you need the cashflow or would the lump sum be better put to use some where else. If you want access to the equity maybe look into line of credit secure by multiple properties. 

I would say if they wants a lump sum see what deal you can put together to get them a lump sum. Maybe hard money for the lump sum and a seller financed second ? With the agreement that they will maintain a second position when you refi out of the hard money. I agree with Owen make the offer that works for you if they don't bite move on and reach back out in a couple months.

I would talk to your Mortgage broker and title company. In talking with my MB he said that on the lower priced properties they may have a minimum charge for certain aspects of closing. 

Well I think it depend on how much you want to invest. You could zero scape the back yard cost effectively but its definitely not as attractive for families wanting a place for the kids to run and play. I think the largest investment would be to cap the current sprinkler system or convert to drip and install artificial grass. For a rental it would  be a selling point and give that grass appeal with very little maintenance. If the artificial grass becomes and issue in the future sale of the property you can point out the irrigation is in place for real grass and they would just have to remove the artificial and uncap the irrigation. 

@Brian Brown I would think the best way would be to go to your preferred lender and see what you can be pre-approved for. Figure out what capital you have to invest with. Get to know some hard money lenders to figure out what the requirements are and what they like to see in order to fund a deal. If you find a really good deal you usually can find financing for it but me personally I like to know what all my options are before I move forward.

@Matthew Franklin I tend to go with the HELOC . It just seems more flexible and you're not paying for money that's just sitting in the bank, If you don't have an immediate deal for it. My only exception would be if you can get more out of a cash out refi than you could a HELOC and you needed the capital for a deal.

@Elin Trinh Outstanding! Are you planning any particular strategy with it or just a good deal?

@Elin Trinh Thank you very much and good luck to you also! Do you have any markets that you were looking into?

@Matt Lyons Outstanding post! Lots of great information I recently got back into real estate investing learn some hard lessons in 2008. Spent a lot of money on real estate investing seminars and education in the early 2000s. I've gotten far more value and information off of bigger pockets and the forums. Great post!

@Antonio Cucciniello Thank very much for the referral! I've reached out to Mark