All Forum Posts by: Robert Tolnai

That’s great let’s get them in and see if we can make a deal happen 💪

Vacant unit completely & beautifully remodeled! ALL BRAND NEW!!! What an opportunity to purchase a Primary with only 5 % down payment or less!!! The other 2 units are month to month providing a great ''value add'' opportunity to bring rents up to market rates. The property sits in the heart of the Grand Avenue Arts District providing a special and rare opportunity for an investor, or an owner occupant, to plant roots in a community that is both vibrant, and growing. Within walking distance from the main Grand Ave art walk street full of galleries, restaurants, unique retail stores, makers' studios, salons, and boutiques. Unit 1 rent $1,250 Unit 2 rent $1,350 Unit 3 vacant & beautifully remodeled for primary home buyer! (have 3 application on it at $1450)

 Cool, do you have any experience with this?  who should I reach out to and see what the terms might be? 

 That's interesting, thank you 

 yeah no ****, but was our 1st one so we are learning an expensive lesson ..... 

Ok so I love the Brrrr strategy but I am running into these 2 obstacles from lenders: 

1. Since it's an investment property and bought in my LLC - lenders are saying that they can't do a cash out refi on a commercial loan/business loan

2. If I keep in my personal name so I can do the cash out refi, then the interest rate is about 1% point higher on a cash out refi than on a rate and term

What are you guys doing differently to make this work? 

Thank you 

Hello, 

So we sold one of our properties via seller carry terms for 5 years, it was free & clear (there are no loans on it). So now the deed is in the new owner/buyer's name, we have a note for the balance that he pays us, all great so far. 

BUT, what if we want to get our money out of this property sooner?  do we have any way of doing that?  do we have any right to go to a bank and get a loan against this note that we have?  

Thank you 

 Great idea of course, but not enough equity to do cash out refi. 

 Can you send me a link to view your software and costs? 

Thank you 

 Yes, I like that idea, similar to Mike's, will reach out to our friends who may have large savings and not doing anything with it.