All Forum Posts by: Olu Efunwoye

can you provide a working link to the property pictures or videos? 

is the stated potential rent what the rent comp is in the area?

do you have any idea the repair cost? any ballpark estimate? 

I am interested. inbox me

@Daniel Krantz this is soooo inspiring. I am encouraged. Thanks for sharing. Do you mind sharing auction sites you use. Also as someone already asked, do you usually need to use a lawyer to manage your auction transaction till closing? Or is this just a complicated auction deal?

@Andrew Postell Absolutely! It does make sense. If I ever choose to go with the line of credit, I will take care to consider not just the fluctuating rates but also keep in mind the year count before it reaches maturity date into a fixed product for a longer term. I never knew this before, until I read your post. Thanks again.

@Andrew Postell I see your point in the caution. Let's dig a little further: using my numbers above, if i were to draw a line of credit, that would be 34k in order to still keep 20% equity on the property. What you mean by "plan to pay it back" is to consider the monthly payment on that 34k line of credit along with whatever the monthly payment on the next property I am trying to purchase (using the line of credit as its down payment). right?

Please educate me further, is it not the same math i have to factor in if i were to go the route of refinance to pull out that 34k cash (since the mortgage on that subject property will go up as a result)? Although I totally understand the difference in interest with the possibility of the refinance being a fixed rate and the line of credit subject to prime +x%. 

I consider myself a new investor despite having 2 rentals, hence i'm trying to learn from this discussion. thanks for chiming in.

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@Tim Polk @Mindy Jensen BiggerPockets support reached out back and confirmed: "It is an issue with google play itself, please watch it using a regular browser instead". I was able to see all episodes with Castbox. Thanks

@Mindy Jensen Thanks for your feedback. I just uninstalled and reinstalled the app. Same issue. However I am able to see the update episode on the Money Podcast - #52, but can't see beyond episode #295 on the BiggerPockets podcast (Brandon & David). I have send an email to support and will update this thread once resolved so other people too can know what to do.

@Jared Skov got the current loan in 2016 @ 4.75%. Since i technically haven't found the next deal yet, I'm unable to determine cash flow on it. If heloc is the way to go, will i be getting a "credit card" style of fund that i can then tender as down payment on the next house?

Trying to decide best strategy here: have a single family investment property currently valued at 110k with a loan bal 54k. I understand the cost associated with refi (appraisal, closing cost, points etc) vs heloc (appraisal). I also understand limited options in bank willing to do heloc on investment property. Plan is to use the fund for a down payment on another property. Qus 1: heloc or refi? Qus 2: if heloc, is it possible to use this fund for a down payment? If so, how? I haven't taken out a heloc before but i understand it works pretty much like a credit card. Will appreciate any inputs. Thank you all very much.

Me too wondering how to get the other episodes after 295. Looking forward to an answer here