All Forum Posts by: Ryan Short

Have you looked into doing a cash out refinance back into a FHA loan? Ik some lenders ussually do 85% ltv. I just finished my cash out refinance for my 4 unit in Mass and I got 100k out. If I went conventional I only would of got 70k-80k.

Hey Ian, it is always best to use those reserves to protect yourself from any future problems. Each category is a form of insurance to cover random malfunctions or property hiccups. I do 5% repairs, 5% vacancy, 10% Management, and 5% capex. This is to help beginners save a good amount of reserves and start off investing conservatively.

I currently own 4 units in MA, and just finished my cash out refinance to finish my first BRRRR strategy. I’m looking for a 10-20 unit property to reposition with a partner. Thanks everyone have a good day.

A very similar situation happen to me while renovating my second and third floor apartments. I decided to get a quote from a plumber to install a epoxy pipe sleeve. They use a machine that puts a epoxy material from my roof all the way down my 4in cast iron pipe, making it a 3in epoxy pipe. The plumber came out to do a free quote and used a camera to see how big the crack was, the crack was over inch wide and spanned 15 feet long. He told me just to drive the machine to my house would cost $5,000. I decided to research a lot about how to repair the cast iron pipe with pvc. My brother and I removed 20 feet of cast and installed pvc I’m about 4 hours. The hardest part about this type of job is cutting out the cast iron pipe in pieces because it’s so heavy. I also rented a cast iron cutter which was pretty cool to use. There is always a way around paying top dollar for anything.

I have been using Cozy for over 2 years. It is an awesome part of my team. They charge a$2.99 fee to have the payments clear in 1 or 2 days. I also like how the background check and credit check are done by the tenants and sent to the landlord.

Hey Kevin, I bought a 4plex with a FHA loan last year. The only requirement they had was that I live in the property for 1 year. 2 of the units were rented and the other 2 were vacant. If I were you I would just rent them out after you buy the property. There must of been a misunderstanding on his part, they don't have FHA police to see who's renting what units. I wish you good luck on your first purchase.

Congratulations!! Beautiful unique house.

Jarrod Mei Welcome to the family! Bigger pockets has unlimited information on real estate, so dig in and have fun.

CASH FLOW is King and always will be king for me. Most investors mindset should be based on using the least amount of cash to get the best ROI. Any cash that you would of used for option A or option B can be invested in other investments.

Most insurance company's and lenders can't look away once they know about the lead for liability reasons. I would get a professional first and make sure it's safe for your tenants. Then I would use another company as long as the lead information is not documented. Are there any children living in your property? If so it would probably be in your best interest to get the house tested and then go from there.