All Forum Posts by: Tracey Williams

Good Job!

Most agents use Dotloop now to get signatures.  Are you using a buyers agent as well or negotiating by yourself? If you have your own agent, have the agent carify why the seller didn't sign by him/herself.

Goodluck,

Tracey 

Congratulations on your first rental !

I totally agreed that been out of state you should hire a PM. If you can get them to negotiate their fees maybe that could help with your cash flow. 

Good luck.

Tracey

@Rick Santucci 

It's LOC- up to 70% of the appraise value. Bank will only do HELOC on my primary residence. The property is under my LLC.

Thank you. 

For a property I already owned, is it better to get a Line of Credit or refinance ?

My goal is to use the cash out to fund my flip projects.

Am thinking with the Line of credit I can use the Line to invest in my flips and reapet and I will not be locked up in a mortgage and will only make a payment when I use it.

I will appreciate your contributions,

Thank you!

@Jay Hinrichs , Just watch the video on YouTube, Your candid sharing has inspired me to take the next step in my business strategy. Thank you 

Welcome to BP family!

Tracey

For me choosing to go multifamily now is because of my goals of what I need to come in as income every month and having a multifamily of 4unit or more will help me to achieve that.

Good question! Got me to go back and look at my goal for the next 3year

Tracey

I found a 14 units about 2hrs from me and am trying to see what I should offer. The seller is motivated, she has a loan that will balloon in 5 months. She is an out of state owner and the property manager (a family) has not been keeping a good record. 12 units are renovated and 9 are occupied. The location is great and their is room to increase rent once the units are stabilized. New roof replaced last year and one unit needs work of $4000- paint and carpet and some drywall.

Asking price is $560,000

Rent - $600/ unit

Tax - $21,000/ year

Insurance - $460/mon

Tenants pay all utilities but water which runs about $400/mon

What will you offer?

Thanks

Tracey

Thanks, just what am looking for!

Tracey