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All Forum Posts by: Susan Smeland

Susan Smeland has started 5 posts and replied 14 times.

Post: Rental Arbitrage Questions

Susan Smeland
Posted
  • Posts 14
  • Votes 0

Thank you for the insights. Her long term strategy has been buy and hold so I think that is where she is headed.  Not quite ready to take on the airbnb world. 

Post: Rental Arbitrage Questions

Susan Smeland
Posted
  • Posts 14
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Looking to gain insights from someone that is a landlord in this situation. My daughter put her house up for rent and has received two inquiries around this strategy. Thank you.

Post: Landlord information regarding Rental Arbitrage

Susan Smeland
Posted
  • Posts 14
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Thank you - I did not see that forum before.  I will repost there.  

Post: Landlord information regarding Rental Arbitrage

Susan Smeland
Posted
  • Posts 14
  • Votes 0

Looking to gain insights from someone that is a landlord in this situation.  My daughter put her house up for rent and has received two inquiries around this strategy.  Thank you.  

Post: What to do when your flip is not selling and all your cash is in?

Susan Smeland
Posted
  • Posts 14
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Quote from @Dan Shelhamer:

@Robert Tolnai

I'm in a similar situation. I'm currently doing a flip in central Phoenix in a good area. When we started, ARV was $850K. Now realistically it's probably $700K which is still higher than our all-in number.

I'm most likely going to keep it as a STR, as I have 3 others in North Phoenix that perform well and we have a huge winter/spring coming up with Super Bowl.

I have HML right now at great terms (7.99%) and have that until July 2023. My payments only $2,800 and if I refinance into a 30 year, it would go to around $5,000. Like you, I'm also wondering if I wait until my HML ends to refinance and cash flow $2,200/month higher but also run the risk that interest rates are higher in 8-9 months than they are today.

Thanks Shelia, great idea.  We did go under contract on our property, not for what we wanted  but it's something.  

Post: What to do when your flip is not selling and all your cash is in?

Susan Smeland
Posted
  • Posts 14
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Learned that from your last post.  Thank you! 

Post: What to do when your flip is not selling and all your cash is in?

Susan Smeland
Posted
  • Posts 14
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Quote from @Jay Hinrichs:
Quote from @Susan Smeland:

Thank you Kevin. Not familiar with a bridge. Property is in AZ. Is that an area you cover?


 bridge loan is just a term that describes a short term loan that usually pays off a senior lender and allows you time to reposition.

rates are are generally on a par with HML rates though


 Thank you Jay.  Learn something new every day.  Looking for something with a little lower rate or a BUYER! :) 

Post: What to do when your flip is not selling and all your cash is in?

Susan Smeland
Posted
  • Posts 14
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Thank you Kevin. Not familiar with a bridge. Property is in AZ. Is that an area you cover?

Post: Creative financing needed

Susan Smeland
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  • Posts 14
  • Votes 0

Thanks for your reply Chris.  We have taken several price reductions, sitting at a little over break even right now.  Will reach out to Open.

Post: What to do when your flip is not selling and all your cash is in?

Susan Smeland
Posted
  • Posts 14
  • Votes 0

Thank you for posting Robert. I am in the same position and was looking for advice. All my cash is tied up in a property that would make a great AirBnb or mid-term rental, close to hospitals and medical schools in central Phoenix.  Appreciate all the ideas posted here.  Very helpful.