All Forum Posts by: Sterling Green

Hello, 

I may have missed previous posts. I was wondering if anyone knew or would recommend banks that offer the best cash out refi rates for non owner occupied units in Pennsylvania? Thank you!!

Hello, I am also thinking about using Lending home as well. Did you end up using them and if not who did you decide to go with and why? 

Tim,

Thank you and yes I meant Inf%. Also I included Capex I was just experimenting with numbers and left out when trying to determine how it would impact inf%. That said I typically but 5-7% for Capex. Thank you again!

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*This link comes directly from our calculators, based on information input by the member who posted.

Ok great thank you and if you use a hard money or private money lender will they finance purchasing the property and the rehab cost or will I have to find money for rehab? I realize there may be different rules for every lender but just as a general rule of thumb.

Hello everyone, 

I have a couple of questions regarding BRRRR. If you use a bank do you have to have 10-20% down? If so don't most banks require that money to already be in your account? Also for the rehab project is that your own money too or is that money also borrowed from a bank that you then pay back once you refinance etc.? Thank you in advance!!

@Heath Ryans 

Thank you for your reply. We are looking at townhome going for about 80K. We thought about moving to go into a better district and use the profit from our home as the cash needed. However, our son was just born and now is not the right time. We figure we have 3-4 years to do that before he starts school but we are certainly going to take advantage for that. I will continue to do my research on HELOC.

Thank you all very much. 

Hello everyone,

My wife and I our looking to purchase our first investment property however, you need 15-20% down. We would love any advice or input as to how we should fund this first property. We are trying to decided I. take out a loan against my 403B has 7% interest rate but I can pay myself as opposed to the bank back. 2. HELOC if that's allowed? 3. just take out a signature loan through bank? Any help or advice would be greatly appreciated.

Thank you very much!

Hello everyone, my wife and I are considering purchasing a property that has a tenant already occupying the home. The seller is stating that we need to grandfather in the tenant into the lease. We are naturally a bit skeptical but I wanted to know are they any questions we are allowed to ask seller in order to gain information before we make an offer? i.e. Does the seller have the right to not disclose tenant payment information? Can we get the tenants payment info? Credit History etc.? Before we make an offer. This could potentially be our first rental property to any advice would be greatly appreciated.