All Forum Posts by: Tomasz Poznanski

@Shaun Weekes thanks for the answer. Could you tell me what it means "if sf is permitted? " and will adding bedrooms count if I have small windows there?  Or if bedrooms with small windows do not count as bedrooms , do those rooms vount as " office" rooms ? I am trying to see what is better: keep one open space as lounge or add 2 rooms plus open space. 

Hello . Does anybody know...Does finished basement adds value when applying for cashout refi? 

1) does it add to overall house sf?

2) if I add 2 bedrooms in finished basement do they count and add value?

My basement 1000 sf  is below grade with small windows. It is 7 feet high finished basement remodeled with wide plank wood flooring, drop ceiling and gypsum boards, heated withbaseboard heaters hydronic. 

thanks for input. 

@Andrew Postell . Thank you.  I am taking my time now. I am finishing renovation of 2 houses and will put them for rent. I have another to to start renovation. But will need to refi to get more houses after that. 

stay well. 

I just rented my first rental property in Pocono Mountains in PA. We doing final touches on 2nd property in east Stroudsburg and will rent may15-june1st. My RE Agent could not do any showings. But did not tell me that I as home owner can do showing in person. I lost 2 months of rent because I had lits of interest and then with Corona virus all stopped. All stopped npt because of Corona but my agent not willing to process those applications. Until I asked if i can show myself. So advise always look for solution  I could ask my ageng right away if I can show but I chose to believe she is professional and I am paying and shall receive. Hahah. 

i feel having a great team is important however there is accountability on my side as investor to learn how to get from my team what I need. Comunication is the key . Noy taking personally and learning from experience and applying it back. 

I am looking to do refinance cash out with no income- due to Corona Virus i am laid off temporary and on unemployment for 2 weeks now. 

Here is my situation. I have regular sallary 50k. But no because of corona virus im on unemployment for 2 weeks and it might be who knows next few feeks. I have 4 houses total. 1 i have a tenant in starting just may 1st 2020. Another is finished and i will look for tenant now. 2 other houses im renovating.

Can i get refi cash out and how? Is anybody here  offering asset based rifi with no income? My tenants will pay rent $1000 and it would cover refi and insurance taxes etc. House is worth 100k i am looking for 70-80k refi cash out.

The house i would refi cash out has no loan. It was all cash deal. Its under my personal name. 

Any help please. 

Thank you both Greg Dickerson and Todd Dexheimer for your input. I keep searching and researching about this and other questions I have regarding investments. I started last year and I bought 5 houses so far. 1 i sold already. Now learning about Brrrr strategy i watched many podcasts but now  i bought book from Bigger pockets about Brrrr and long time investing. 

If you have any good accountants, money lenders- for cash out and portfolio lenders, please send them my way please share. .

Thanks a lot. Also I am wood flooring expert im certified Installer and  Inspector so if you have any questions about wood flooring just let me know. 

@David M. 

Thanks for response. 

I did not buy this property yet. But I am about to do it. I will talk to my lawyer to see what is his input. However i dont have an accountant that knows about RE much. Im looking for good accountant if uou have any recommendations. 

Hello everybody. 

. I have a question please help . I have few properties under llc , however now i am buying property where i will be living. Its a house with a garage and barn. I am planning to also put few log cabins or prefab homes on property for short term rentals like Airbnb. I buy it for cash and it is foreclosure REO . But will need to put at least 50k in renovation. So i will be investing in it. Also will do refi once the value is up after reno. I though about having my company llc mailing address there as well but i can do it at different address. How to separate those personal from company if i live there and it is under LLc . Do i pay rent to LLc . What is better in this case to get the most out of it in terms of taxes, and personal protection and not to pierce corporate vail if i live there . Can I live yhere as property manager maybe and take money for it or live for free because i take care of it. I will keep it for long term and probably buy more land arround it to build more prefab for airbnb.

I am searching now also for CPA and title agent and/or attorney . I invest in PA

Let me know your thoughts

Thank a lot

Thank you for sharing. I have a question maybe you or anybody here can help me. I have few properties under llc , however now i am buying property where i will be living. Its a house with a garage and barn. I am planning to also put few log cabins or prefab homes on property for short term rentals like Airbnb. I buy it for cash and it is foreclosure REO . But will need to put at least 50k in renovation. Also will do refi once the value is up after reno. I though about having my company llc mailing address there as well. How to separate those personal from company if i live there and it is under LLc . Do i pay rent to LLc . What is better in this case to get the most out of it . I will keep it for long term and probably buy more land arround it to build more prefab for airbnb.

Thank a lot

Thank you for sharing. I have a question maybe you or anybody here can help me. I have few properties under llc , however now i am buying property where i will be living. Its a house with a garage and barn. I am planning to also put few log cabins or prefab homes on property for short term rentals like Airbnb. I buy it for cash and it is foreclosure REO . But will need to put at least 50k in renovation. Also will do refi once the value is up after reno. I though about having my company llc mailing address there as well. How to separate those personal from company if i live there and it is under LLc . Do i pay rent to LLc . What is better in this case to get the most out of it . I will keep it for long term and probably buy more land arround it to build more prefab for airbnb.

Thank a lot