All Forum Posts by: Gregg Reinbold

I have three small college loans in deferment while I am finishing my degree. I haven't payed the loans off because they are some of my longest loans on my report.

Experian is reporting that that my college loans are all closed. My credit score is 80 points lower with Experian. 

TransUnion and Equifax both show the 3 loans as being open. 

I am trying to get financing for a commercial property, but I am running into a road block with my lower Experian score.

Any Suggestions?

I am wondering if renting bedrooms for virtual offices will be an opportunity. We have a three bedroom house with four people taking virtual classes. Its hectic here. If I was working remotely I would consider renting an empty bedroom from a neighbor for my virtual office.  Renting a spare bedroom as an office from 9-5 sounds better than subletting to someone that lives in the house 24 hours a day.

Any thoughts if the tax exemption for early withdrawal that ended in 2020 will be extended? 

I will be 59.5 in five months, but I could use some money from my IRA before then.

The 20% tax for early withdrawal is too much for me not to wait five months. 

@Kaja Baum , Hi I'm from WNY. I recently retired from the military, and I am moving back to WNY. My goal is to renovate my house there and refinance it with a VA loan. Then pull money out of the refinance to buy a commercial property I'm looking at now.

Hi Manuel,

I plan on returning to Allegany County in WNY after being away for about a decade. My thought is that higher taxes will drive the property values down, but that will be the adjustment and not the rental price.

My concern in returning to NY is how hard will evictions be in the future.

You will be in a better mental state if you hire the clean-up done as quickly as possible and focus on the rehab.

@Aaron Gorum right now I owe $25,000 on the mortgage. Still refining rehab estimates, but I estimate $40,000 rehab would bring appraised value to $125,000- $150,000

@Aaron Gorum I had not thought about selling the property. I’m not sure how the numbers would work.

I retired from the military in January and want to move back to Western NY. I am thinking about refinancing my fourplex, but the last couple of tenants did a number on two of the apartments while I was away. The unit I plan to move back into is okay. I want to refinance so that I can buy a construction business from a owner that wants to retire. Can a VA loan be used on a multi family if some of the units need repairs?

Will security cameras on vacant property lower insurance costs? I out of state for work for awhile and I am getting charged for vacancy rates on insurance.  My extended family lives nearby and several of them pass the house everyday.