All Forum Posts by: Sean Galligan

Thanks Steve. I think that's what I am going to do. 

I will not refinance cash out when both my properties are locked in at 3.75 rate

The seller does not own the property outright, I do have a property picked out and an accepted offer. I have cash for a down payment, but I would rather not come out of pocket 25% if I do not have too. It is a nine unit residential building 

I currently own one 3-unit building and one 6-unit building. I have the option to purchase another multi-unit building. I have cash for a commercial down payment, but wanted to know if I could do it another way?  I have great equity in each of my current buildings.  Any advice will be appreciated.  I have thought about a 1031 tax exchange, but really don't want to sell my 3unit at this time.

Thanks

Sean

Investment Info:

Large multi-family (5+ units) buy & hold investment.

6 unit
1br 1ba
1br 1ba
1br 1ba
2br 1ba
2br 1ba
2br 1ba

What made you interested in investing in this type of deal?

location and price point

How did you find this deal and how did you negotiate it?

It was listed

How did you finance this deal?

commercial loan 25% down

How did you add value to the deal?

separated 2 units utilities, paint and cosmetics as tenants moved

What was the outcome?

I am happy with my sweat equity and purchase

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Austerlitz.

3 unit multi
1BR 1BA
1BR 1BA
3BR 1BA (Townhouse Style)

What made you interested in investing in this type of deal?

Location Location Location

How did you find this deal and how did you negotiate it?

it was listed on the market

How did you finance this deal?

1st time FHA loan

How did you add value to the deal?

cosmetics

What was the outcome?

Great rental history

 Sounds good thanks!

 Thanks! I’ll have to look into that. I see that you’re in California. Do you know if that’s common in other states?

Thanks! I’ll have to look into that. I see that you’re in California. Do you know if that’s common in other states?

Which is the better option for property owners, Realty Trusts or LLC for investment/rental properties.

I am brand new to biggerpockets. I currently own three properties. 1-single family home(primary residence ), 1-3units, 1-6units (all are rented).  I have a lot of equity built up in each property, but I am also locked in at great rates.  I would like to avoid refinancing if there are other options.  Any advice will be appreciated.

Thanks

Sean