All Forum Posts by: Azita S.

The week before the shut down, I applied for cash out refi on 2 of my rental properties.  At the time they each had about $100K in equity and I planned on taking out $70K on each to use at down payments on new investments.  The lender e-mailed me notifying me that he's telling all his investors to hold off on things.

In the last few weeks, there's been price cuts on multiple listings in the area and I'm now thinking I should go ahead and do my cash out refi and sit on the cash and watch the market.  If the prices continue dropping the equity in my properties will go down.

Anyone else in the same boat? What is your plan?

@Steve K.

I'm sure I would have doubled  or tippled my investment should I have chosen a different investment type, but I'm ok with the way things turned out. Lots of lesson's learned! I'm still young and sure I'll make up for the lost opportunity later in my career. 

@Jay Hinrichs

Thanks Jay.  I'm glad I got my initial investment back. I checked out your profile since it says you are from LO. That's my favorite area of the whole PDX metro.  A lot of new development happening in LO.

@Adam Gollatz

I'm glad your friend is turning things around with his property.   I hope he can get decent tenants who won't damage his property

@Pat L.  Thank you!  The way I had to look at it was, it was an investment and all investors make bad decisions at some point.  I could have put that money into the stock market and lost it all.  

I always try to stay positive and look at the bigger picture.  I could have spent tens of thousands of dollars taking real estate courses to learn the lessons I learned on my own.

I'm just glad I walked away with the same amount of $$ which in reality was a loss, because if If I had invested in class B properties in a different area, I would have made money through cash flow and appreciation! 

@Michael Henry  Hey Mike, good to see you here on BP.  Yes, indeed your were PM#3 and I know you tried your best and were not cut out to be a PM.  as I said in my post, you were honest and that's what I appreciate about you.  By the way, I've gotten a ton of private msg asking about Milwaukee referrals and I've referred you a few people looking to invest in Milwaukee! 

@Carlton Chestnut

put together your team before you buy anything! Milwaukee being your hometown, you probably have connections already, but let me know if you need any referrals. 

@Marcus Auerbach

Thanks!  Several times, I was near my breaking point, but kept pushing through! 

In my post I forgot to mention the city litter fees LOL! the tenants toss furniture, matress, etc to the curb site, the city cleans it up and charges you!!!! over the years, I got at least one fine per quarter, sometimes multiple in a month!

@Brie Schmidt  I hope you can insurance on the property and the insurance paid out!

@Caleb Heimsoth

Class B SFH out of state has been working great for me. They are in AZ and newer homes, built in the early 2000s. I have not talked to the PM in almost 5 years. The deposits are made before the 5th of each month, long term tenants, one of them going on 7 yrs now, rarely any repairs!

I will stick with only class B SFH! I know others can make class C and D work for them!