All Forum Posts by: Grant Hwang

Thanks everyone! Of course I will talk to the CPA but wanted to get some investor insight first. Hard to sell a home right now, mind as well rent it out even if it doesn't cash-flow at the moment.

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I would love to get a list like that!!!

Partner up with an experienced investor if needed. You won't make as much per deal but at least your partner can help you close.

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It sounds like you might not be clear on the purpose of these documents. If you are concerned about NOT being able to sell it, make sure your purchase contract allows you to exit(talk to lawyer if needed, better to spend a few hundred bucks now to protect yourself)

Also, if it is a real deal, you will find a buyer don't worry.

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I have a SFH that I use to live in. I will be moving out but I will rent the house out. My question is, how is this going to work with depreciation on taxes?

I owned and lived in it for about 2 years. Moving to another SFH but want to keep this house as a rental.

Anything else I should know when moving out? Do I need to refi?

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When it comes time to selecting a house to rehab then flip/hold, is it a better deal to get the house that is the cheatest on its block?

Or is that something rehabbers don't really focus on?

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What kind of deal do you have? Post details.

If it is a good deal I imagine finding a buyer should be easy.

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If you are willing to stop by often, put something in the lease that says you will check the place every month to make sure it is safe and clean. If it is dirty you will hire a cleaning company and charge tenant. I bet they won't even make a fuss about that.

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Originally posted by John Broussard:

What state is the property located in?

Seattle, WA

Highly desired location.

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Originally posted by Darryl Dahlen:

Based on the information you've provided, you may run into some problems trying to refinance your property.

The fact the property is at 50% occupancy, and can't serve the debt, is going to be a big issue with lenders. Especially, given the property type.

The fact you want to do a cash-out refinance is going to further compound the issue. To be honest, I don't know of any lenders who would allow a cash-out refinance on a positive cash-flowing office building let alone a non-performing one.

There's such a glut of office space in most markets that lenders are leery of this property type right now. Too many are in the position yours in, and in a lot cases, the NOI doesn't support the debt any longer and/or the property is upside down with regards to its appraised value.

Point being here is that if you find a lender who will let you do a cash-out refinance please share it. You will have truly found the needle in a haystack.

Darn, I still will try on Monday. Can't hurt to ask.

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A cap of 13 is pretty good in any city. I personally never had to deal with sec8 or anything similar to that but I been curious. It seems like they produce awesome cashflow and if you pick a good spot it can really appreciate.

If you feel comfortable than go for it.

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All Forum Posts by: Grant Hwang

Grant Hwang has started 8 posts and replied 66 times.

Post: Owner occupied turning into rental

Post: List of vacant properties in the area...NOW WHAT??

Post: Option to Purchase vs. Assignment Contract for Wholesaling

Post: Owner occupied turning into rental

Post: In general, the cheapest house on the block=greater profits?

Post: finding a buyer

Post: Nervous about college student rental, need inputs/support

Post: Basics of commercial real estate refinance

Post: Basics of commercial real estate refinance

Post: slumlord: Wise or foolish