All Forum Posts by: Tina Acevedo

Hello! How is Dothan working out for you? I am not in Dothan, I am in Hawaii but I have been extra interested in Dothan for some years now. Did you ever find a property manager in the area to work with? I reached out to Tom West company property managers via email last month, didn't ever hear back from them. I inquired recently about some single family homes for sale in Dothan all priced at $50,000 roughly. Interestingly all were held by some type of LLC and a few were held by the same LLC. I still would like to purchase there and rent out because the price is right for me. This is just my experience so far. I'd love to hear yours.

Tina

wow! Good to know, and thanks for the heads up. 

I’m looking for anyone who has used the services of Morris Invest the company run by Clayton Morris. Just leave a simple testimonial to what your experience was.

@chrischantavong sounds good. And waipahu is not out of the way for me. Coffee is ideal since my mornings are usually free. Let's talk RE since you know how crazy it is here on Oahu. 

@caralonsdale yes I bought as an owner occupant and lived in it until this last august. That's when my renter moved in and I moved out. I recently filed taxes (quarterly G.E.)on the rental income and was told that my HOA fees are all going to be write offs when I do my taxes in April. Has anyone else put HOA fees down as a write off before? In Hawaii right now the current median sale price for a condo is $420,000. I feel my condo could sell somewhere around 400,000$. I have talked to a local lender that would do a HELOc with LTV 95% . If I could obtain a HELOC on this property I don't know what would be the best thing to use it towards? A cash out refinance sounds achievable. I'd only have $20000 in the property if I did it now, I'm assuming all of that would go right back towards the condo for closing costs?

Bought my condo 2.5 years ago on east side of Oahu. Original loan amount $379000 Interest rate 3.75% no money down or PMI 5/5 arm Current balance is $360000 roughly My tenant currently pays $1900 a month which covers my mortgage payment and escrow account. Does not cover any HOA fees HOA fees $356 a month I currently gross $5800 a month from my two jobs only. Not including the rental income. Condo value has gone up in 2.5 years Current country assessed value is $397000 I do not know what to do at this point with my money. I'd like to set up the condo on a better mortgage that would also allow me to make positive cash flow of $100 or more. I'd also like to keep moving forward towards buying my second rental property. I currently live for free with family so I'm not worried about finding my own personal dwelling yet. What would you seasoned investors advise me to do in my current situation? I have no reserves for my condo. I have no significant debt and I have a good credit score. Should I save? Should I go for a HELOC? Refinance? Aloha.

Bought first condo on east side of Oahu on a no money down 5/5 arm loan 2.5 years ago. Condos value has increased significantly for a short amount of time. Financed loan for $379000 Balance is now 360000 Current county assessment value $397000 Interest rate at 3.875% No PMI Condo is currently being rented out to a tenant who covers my entire mortgage but none of the HOA fees. Mortgage: $1900 a month includes taxes and insurance Current rent : $1900 a month HOA fees : $356 a month I work full time and live for free in my current place.(family) I have no reserves saved up. Just a good credit score and a well paying full time job and also a well paying part time job. Current monthly gross from both jobs is $5800 Sounds silly but since I have been receiving rental income and seeing all the money from my paychecks again, I actually have NO idea what to do with it. :( Id like to buy my second property and rent it out for a profit. I also want to set up the first property on a more secure mortgage that would avoid variable rates and allow me to see some positive cash flow. Main goal is positive cash flow. I am 31 years old and of all my friends I am the only one in my circle of friends that is focused on real estate goals, so basically I have no one I can go to with this dilemma. Just simply learning as I go. Any advice? Reading material suggestions? Or simply what would you do in my situation..... be aware that I am in Hawaii, prices are beyond ridiculous but I'm charging into the real estate game anyways. Thanks for reading.