All Forum Posts by: Paul M.

I'm not familiar with non qualified mortgages, I'd generally assume the less mainstream/vanilla the borrower, the higher the costs and rates, why would non QM instead be lower costs?    Who offers them?   I've generally only looked at local banks for local apartment buildings, and Chase also has often had good terms.    

I'm past the prepayment penalty period.

Why nonQM? Property exceeds standard DSCR/LTV ratios and PFS is good too.

Not 5%, but seems like there are some high 5% rates being advertised.  

I've got until end of 2026 of a fixed rate period on a 5+ unit mortgage, then it adjusts for another 7 year period. Has been 4.5% since 2020, any crystal balls on where rates will be in 2 years? I mean it stands to reason it will not get worse, as these interest rate cycles tend to take a long time, and some places already advertising under 5 something rates. I could also refinance before 2 years is up but closings costs for apartment buildings are expensive right? The DSCR and LTV are good.

Earlier in my life I only did 2-4 unit buildings, they always had rates fixed for 30 years, never had to think about impending rate resets.     It was explained to me that most commercial real estate owners do something with it in the first 5-10 years so it doesn't matter.   But I'm a buy and hold owner operator type guy.     

I do it myself.   I am a financial accountant (as opposed to tax accountant) so it is pretty easy.   Even if I wasn't I would still suggest doing it yourself, great way to monitor the business.   I listen to podcasts while I do the bookkeeping.

How does one get airbnb not to collect taxes on mid term rentals?

I don't per se agree with the reasoning above.   Often by having quality/unique features you attract better tenants.   Everyone has their own business model.   There are plenty of people who don't offer garbage disposals, laundry or dishwashers and make similar arguments.

 Tell me more about the chargepoint Home Flex.   My research up to now says that if I install a J1722 outlet that that is a level 2 outlet that will work for all electric cars.   Is the Chargepoint Home Flex a type of J1722 outlet that has monitoring too?

 Elaborate?

Yes short sale happened in 2008, but the 70s activity was not for delinquent borrowers.    

That is an interesting perspective that lower rate loans might be more valuable to servicing companies.   Though that also would have been true back in the 70s.   And servicing companies not necessarily the same as owners of debt?   

In any case, this is an idle question, at least for now.   

I remember hearing stories from my finance professors about how when interest rates were high in 70s the banks would offer mortgage borrowers a chance to payoff their loan at a discount to the principal balance.   Presumably the discount offered was less than the delta between bank's cost of capital and the mortgage interest rate.   With all the consumers that have mortgages in the 2-3% rate, how high would mortgages need to be before mortgage companies want to get rid of them?    Purely theoretical fantasy at this point, though it did happen in my lifetime (I was a toddler at the time).