All Forum Posts by: Shannon Phillips

Johnson, Thanks for your reply.  I would love your suggestion on portfolio lenders.  Thanks.  - S

Also wondering if anyone has suggestions on portfolio lenders with good rates for someone like myself to talk to if I pull out some equity via a refinance to invest elsewhere.

Thanks Dave for the input.  I would love to listen to that Pod Cast.  

I own a portfolio of 60 single family homes in the San Francisco Bay Area. All are commutable to San Francisco. My basis is low.

I cash flow about 3% net annually based upon current value of $28 million. $4.5m debt.

15 properties held free and clear. 15 have 15yr loans with a 15yr amo, sub 4% rate. The balance have 7yr fixed rate loans averaging 4% (30yr amo) that float in 2020. No prepay penalty.

I’m 48yrs old. I want to invest passively (after a potential portfolio transition) for the highest return possible via cash flow and growth.

Here is my question:

Should I “HOLD” and stay the course or “SELL” and reinvest elsewhere via 1031?

If I sell what product type do you recommend and what markets are the most attractive on a value basis with good population, job and income growth prospects?

My portfolio has performed beautifully for me in the past but I’m concerned about a future SF earthquake and wondering about the opportunity cost of staying in San Francisco relative to investing elsewhere.

I could really use your advice and help.

Thank you Bigger Pockets.

One of my Section 8 tenants in Oakland is no longer receiving the Section 8 subsidy.  She was leased the unit with a Section 8 voucher.    The rent is significantly under market (30% or more) and I would like to increase the rent 10 to 20%.  Can I notify Section 8 and increase the rent beyond the City's Rent Control Ordinance because the unit was leased as a Section 8 unit even though she no longer receives a rent subsidy from Section?

Thank you.  

Thanks Minh.  How long ago were you offered 3.4-3.6% at FRB?.  That's better than they just offered me.  I will give Opus a call as well.  Thanks.  @Sandeep... any thoughts?

Yes, I have a very good relationship with them.  Done a lot of deals.  How is the Ohio market?  San Francisco bay area market is on fire but not many values nowadays so looking elsewhere.

Thanks. I use first republic.  They are a regional lender in California.   Who do you recommend?

Thanks.  

Hi Robert, PITI won'd be a problem. Right now I'm working with a portfolio relationship lender and I'm getting 4 to 4.25% loans with 30% down, 30yr amo but only fixed for 7yrs. At these rates I'm trying to lengthen my fixed rate period to 10yrs if possible but at similar rates. My credit is in the 700's, over 6 years of portfolio PITI in cash with relatively high net worth. My average loan size is under $300k but I can bundle a bunch of refinance properties together for a cash out refinance for a bunch of properties I hold all cash with no debt. Suggestions? Maybe my current lender is best I can do. Testing the waters. I can also bring a sizable deposit relationship to the table if needed.