All Forum Posts by: Silas Johnson

Aloha! We just refinanced our house. We've been in it for a year and a half. We might want to sell in a couple months. Does our clock for paying capital gains tax restart when we refinance?

@Chris Woytus let's do this! It seems that there isn't a Meetup in Hilo. Wanna start one with me?

@Kamuela Moniz aloha! I have a small handyman/ rehab company in Hilo. We are fully insured. Let me know if I can help!

Aloha! I used to have the pro membership back when it was like 15$ a month or something. I was wondering if there is an option anywhere to just buy unlimited access to the calculators and pdf downloads of the calculators. Is that an option anywhere?

Hello all,

What is the best way to shop for a FHA mortgage? I have gotten lots of referals and have spoke to a few. How do I know who has the best rates for my personal history without getting pre qualified? How do I know what kind of fees they charge? I don't want to waste anyones time, but I would love to know more about what type of questions to ask. Thanks!

@Matt Fish Thanks! Its getting clearer now!

@Matt Fish

Thanks for the reply. I am still kind of confused. Thanks for your patience. If it is amortized over a 15 or 20 year period, then why would it need to be paid in full or refi'ed after 5 years?

Ola,

How does an interest only loan work? Lets say for example I want a hard money loan for $185,000 interest only at 9% for 2 years. Does that make my total paid after 2 years = 16,650 / 24 months = $693.75. Thanks for any help

@Heather DeGeorge 

I was talking about small multifamily or SFR. Thanks for the awesome info. I kind of figured that 75% LTV was a safe number. I like the two year seasoning. I have heard one year but 2 is a good conservative number. Another question, when you bring your "packet" to the bank to get the refi, do you show your debt service info from the hard money lender to the bank? Or do you show the numbers as if you owned the property solely?

@Curt Davis Thanks Curt for the info. How many "spots" does a person typically have in the mortgage realm? I have heard 4 to 10

@Matt Fish Thanks for your response. What exactly does 5 year balloon mean? 

Ola All,

I have a question regarding the BRRRR strategy. If you were to go and refi, lets say with a portfolio lender, what type of loan is it? Is it a mortgage or a commercial loan? Is there a limit on the amount of mortgages you can have using this strategy? I listened to podcast 121 and it sounded like this is the strategy they use (hard money converted to bank loan) but many times over. How does this work?