All Forum Posts by: Taelonn Harper

I am working on a Subject To Deal and would greatly appreciate any advice anyone may have to offer.

Here is a breakdown of the numbers:

Property ARV: $120,000 cash.

Loan amount still owed: $79,000 cash.

Interest rate: 2.5%.

Time left on the loan: 14 years and 2 months.

Monthly payment (principal only): $300.

Estimated PITI: $750 monthly.

It is a duplex and each side can rent for $1,000.

Rehab cost: $30,000.

The seller wants $30,000 cash at closing.

Mortgage-only payments.

If I can pay $700 a month at 2.5% while collecting $2,000 in rent, this deal seems like a no-brainer. I already have some rentals, but this would be my first Subject To deal.

My question is, how can I finance it? If I want to do a Subject To deal, do I need to bring $60,000 to closing ($30,000 to the seller and $30,000 for rehab)?

Alternatively, is there a way to finance it without coming out of pocket? I want to keep the 2.5% loan instead of refinancing into an 8% loan. Is that possible?

I am working on a Subject To Deal and would greatly appreciate any advice anyone may have to offer.

Here is a breakdown of the numbers:

Property ARV: $120,000 cash.

Loan amount still owed: $79,000 cash.

Interest rate: 2.5%.

Time left on the loan: 14 years and 2 months.

Monthly payment (principal only): $300.

Estimated PITI: $750 monthly.

It is a duplex and each side can rent for $1,000.

Rehab cost: $30,000.

The seller wants $30,000 cash at closing.

Mortgage-only payments.

If I can pay $700 a month at 2.5% while collecting $2,000 in rent, this deal seems like a no-brainer. I already have some rentals, but this would be my first Subject To deal.

My question is, how can I finance it? If I want to do a Subject To deal, do I need to bring $60,000 to closing ($30,000 to the seller and $30,000 for rehab)?

Alternatively, is there a way to finance it without coming out of pocket? I want to keep the 2.5% loan instead of refinancing into an 8% loan. Is that possible?

I am working on a Subject To Deal and would greatly appreciate any advice anyone may have to offer.

Here is a breakdown of the numbers:

Property ARV: $120,000 cash.

Loan amount still owed: $79,000 cash.

Interest rate: 2.5%.

Time left on the loan: 14 years and 2 months.

Monthly payment (principal only): $300.

Estimated PITI: $750 monthly.

It is a duplex and each side can rent for $1,000.

Rehab cost: $30,000.

The seller wants $30,000 cash at closing.

Mortgage-only payments.

If I can pay $700 a month at 2.5% while collecting $2,000 in rent, this deal seems like a no-brainer. I already have some rentals, but this would be my first Subject To deal.

My question is, how can I finance it? If I want to do a Subject To deal, do I need to bring $60,000 to closing ($30,000 to the seller and $30,000 for rehab)?

Alternatively, is there a way to finance it without coming out of pocket? I want to keep the 2.5% loan instead of refinancing into an 8% loan. Is that possible?

As we approach the wonderful tax season. I was wondering if anyone has any recommendations for good CPAs or how I could locate a quality CPA to file my taxes in 2022!

 Definitely, some insight that I needed to hear, thank you! 

I've always had the mindset that it didn't really matter who I refinanced by BRRRR properties with because interest rates would be pretty universal. As I get ready to refi my latest purchase. I am curious, do you think it is worth the effort of interviewing multiple banks?

Investors or Realtors, would you choose a title group from another state if they had more to offer than your local title groups and could obviously close agreements virtually?

or do you consider a local title group invaluable? 

Mostly for research purposes, but I am curious! Who do you use to close your Columbus deals? 

Prior to getting a house warranty, have an inspection performed. If the right actions had been taken, it's likely that you would never have to utilize a warranty. If you only intended to use it for the first year, you might want to get an inspection done instead. If there are no warning signs, everything should be fine. Ultimately the decision is dependent on your risk tolerance, as is most investing.

What kind of financing have you folks used to purchase property? I have used cash and Hard money, but I've recently got a line of credit. 

I recently opened a business line of credit that I will collaborate with hard money to distribute across a few deals. What kind of funding do you employ or believe to be the most effective, when looking to scale?