All Forum Posts by: Tony Mayo

I have a few properties that have carried capital losses (i was not able to take a loss because i am not a real estate professional and I make to much other income)

I am now starting to realize gains on these properties… so am i able to take those carried losses against my current profits? Or do i have to wait until I sell to realize those losses on the final sale? 

Thanks in advance!

I am currently in the process of looking at other states for rental properties. 

Does anyone have a good system for finding markets where properties cash flow well? 

I am happy to pay someone to teach me. 

Thanks in advance

I currently have 10 mortgages in my name so I am just learning about a DCSR loans. 

Is this pretty much the only option once we hit that 10 loan cap for conventional loans?

Any other creative ideas that you have seen?

Any banks that you have had good experience with?

Thanks in advance

I have a 2 family property that I purchased 2 years ago for $275k. It is in a commercial area AND the company nEXT door would like to buy it for about $450k. MY RENTAL RATE IS ABOUT 1.5% PER MONTH... TO DATE I HAVE ALWAYS BOUGHT AND HELD FOR THE CASH FLOWS SO THIS IS MY FIRST SALE FOR CASHING OUT FOR EQUITY. SO I AM TRYING TO GET A BETTER CONCEPTUAL UNDERSTANDING IF I SHOULD COnTINUE TO HOLD OR aM I CRAZY ANF SHOULD I CASH OUT?

So I have my first lock out eviction being done tomorrow. These people were a nightmare and cant wait to have them out of my life.

Does anyone have any feedback on how I can report them to the credit bureau's? Are there any websites I should also be reporting too?

As for the screening process are there any great websites where I can do a background check and to see if they had prior complaints?

Thank You

hello, is anyone willing to share an addendum to the lease agreeement that would state that the condition of the rental should be returned in the same condition as when they moved in. I have several properties and just trying to get a systemin place where i take pictures of the conditions of the rental and they agree that those pictures are accurate. Want to just document any intentional damage made before they move out

Thank you all!!

Hello everyone!! I am new to BP and can't tell you how much I learned over the last 3 weeks. I have 4 SFH's and after much research I realize I have done really well on 3 of the 4 properties... so at this point I just need to duplicate the successes!! To be perfectly honest I did these investments more for sport but at this point I have to finances to really get serious.

My goal is to acquire 6 SFH per year for the next 10 years...

I have a question about Delayed Financing. My strategy is to buy cash, rehab, rent and then refi (BRRRR).

1) If I use borrowed funds (ie 401k loan, hard money loan, personal HELOC) to buy the investment for cash, does this disqualify me from being able to do Delayed Financing? Some people say yes, some say no, some say yes but the refi proceeds needs to settle the borrowed source ie pay back the 401k loan... Anyone have a clear answer or experience with this?

2) If I use delayed financing, my understanding is I can access up to 100% of the ARV, but it is capped by my acquisition cost (including closing costs). So if I buy for $100k and the AVR is $200k, I can only get $100k which is 50% of the AVR, not 70%. Is this correct? What about rehab costs, can that be put into my 'acquisition' costs? So if I invest another $20k, can I then refi. up to $120k?

3) Lastly, I also read that if I wait 6 months (or 12 months depending on the bank), I can then REFI out 70% of the AVR? So in my example above I would be able to refi $140k. Does that sound right?

Obviously the property needs to successfully cash flow, which I totally get.

Thank you in advance!!