All Forum Posts by: Patrick Toy

I'm looking to refinance a commercial loan because my current loan is going to mature on Jan 1st. I owe $300,000 and the value of my property is $1M. So low loan to value. Who is a good commercial lender?

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I'm just starting out to manage my family's property. They have property in California and Nevada. I'm wondering if there is an app that someone would recommend to use or a program that I can get to help me keep track of the properties and also take an application and do a background check too?

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I'm looking at homes near the Air Force Base, any feedback from anyone whether this might be a good location for investment properties?

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Originally posted by @Christopher Brainard:

Hi @Patrick Toy and welcome to BP

Seems normal, I checked into a few companies when I first moved to Vegas and they wanted 8% to 10% and then I think the rental fee was one month's rent ($750 to $850 for me). I believe this cost will vary by property type and location, as the lower class the property the more work involved with the management. Until you have several properties, I don't believe you're going to have the bargaining power to really negotiate a much better rate. Ultimately, I decided to manage my own properties (I currently have 5) and they require a minimal amount of time.

I'm curious to know why you purchased a new house to lease and if there is any cash flow in it for you? I wouldn't think a new SFR would cover the debt service on the property.

-Christopher

The price I got on a brand new home was the same price as the resale homes that I was looking at. With a brand new home, I know that there won't be any issues with it for a while. Thanks for your advice.

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Originally posted by @Christopher Brainard:

Hi @Patrick Toy and welcome to BP

I'm curious to know why you purchased a new house to lease and if there is any cash flow in it for you? I wouldn't think a new SFR would cover the debt service on the property.

-Christopher

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Hello everyone, I just purchased a brand new home that will be a rental property in Las Vegas. This will not be the first property that I plan to purchase. I'm looking for a management company who offers a competitive gross of income percentage. I've been quoted 8% and $350 for each new lease. I don't know if this is average. Can anyone assist?

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All Forum Posts by: Patrick Toy

Patrick Toy has started 2 posts and replied 6 times.

Post: Commercial Construction Loans Primer

Post: Self managing investment properties

Post: Las Vegas????

Post: New investor

Post: New investor

Post: New investor