All Forum Posts by: Sal Zafar

Oh! can you take HELOC from rental property?

Hello All-  just wanted to know if there is any Meet-up happening soon Austin land area? Thanks!

Hi Scott - I've my profit spread within the $150k, I even go lower if I find cash buyer and close soon. so buyer will also have some spread in case want to flip it again or keep it as hold. it's a great income producing house just 35 miles outside the Austin, TX, just across the school. My thought process was, someone can get it with sweat equity. 

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Thanks! make scene. in my current situation. My only concern is since i am already closing on another property next Friday. I personally think, i rather just sell it as-is and probably pass the discount to the buyer (investor) because it rent it out really fast as it in front of school. this way i can get my share of profit smaller but quicker and pass the spread to the buyer if they want to anything with it. 

Hello BP community - Need advice.  

I found this very nice house with metal roof just across the school next to score field. Great location! Planning to sell it for $150k, wanted to know if I add appliances, do paint and change the two shower tubs (need to change them). or sell it as-is? 

So, HML always charge interest only, correct?

In today's world as technology is taking over lots of Realtor's activities (in a good way). Personally. I Don't go (or recommend) to go high volume agent(s), for them you are just a number. They show you 3-4 properties and accept you to purchase one. After 4-5, you see change in the behavior/attitude. Even though they "may" have knowledge but they don't have a time for clients to share it. They don't say much or if they do they just share info as you ask.   

On the other hand, I prefer realtor with some experience who work with me and understand my "search". In case they don't have an answer, they get the answers for me. After understanding my requirement, they lay out the whole game plan what is best for me. Educate me along the way and help me grow.   

Hence, i prefer part-time realtors. Who are really not too hungry for the money and yet devote their time to the client as it should be OR used to be. and I happen to know one :).   

Thanks for all the feedback. Most of them are on month-to-month, so I guess i'll increase the rent, one unit at a time. 

Wanted to know, if there is any benefit by adding cost of installing sub-meters in low income units. Yearly water bill is $9k to $10k. Or should i just start charging tenants part of water consumption? also can i start charging in the middle of the lease agreement, or do I've to wait till lease expire. 

Thanks! 

I live in Leander-- I think we should have REI Group established for North Austin burbs. Because couple of them in the area I know happens either in South and during the morning time and one night time, which is hard to meet for people like me. Could include North Austin burbs e.g. Georgetown, Leander, Jones town, Loga Vista, Mabel Falls, Cedar Park, Round Rock, Liberty hill, etc etc.

Could meet in around IKEA area. 

Any thoughts?