All Forum Posts by: Travis C.

@Cameron Tope I have been doing $200/month after PITI with 95% LTV here in San Antonio (VA Vendee finance program on VA foreclosures). My 30 year notes bave been at 3.75% in last year. SFH 2200 4BR/BA typically. Would be around $300-400 if I did conventional or close to it.

Survey - what are the best 30 year conventional rental property refinance rates y'all are getting currently?

@Tim Nelson seeing as government evictions are under a moratorium due to Covid and based in the fact that the VA is in between lenders for Vendee anyways, this probably won't come back until 2021. I love the program and picked up 7 of these last year.

*"on hold for now" should have said. 

you are correct! New American Funding lost their contract. The VA probably was standing up a new lender when the downturn started. I imagine it is all just on for now especially since all government backed loan defaults are a full stop too.

Thanks David!

@David Hulit I don't think your reply posted. Looks blank. Thanks everyone for any pursuant info here. I am researching independently as well, but do find value in BP and always have. Best, Travis

Wonder how this works hypothetically speaking -

1. Mom and pop landlord has a mortgage at 75% LTV and they hold title under their own name.

2. Mortgage balance is in fact $75K and the property is worth $100k. 

***Are we saying the SBA will directly lend $25K, since that is the equity position they can collateralize, at 30 years fixed for "working capital" purposes?

****If yes, does working capital qualify as money the landlord can use for further property acquisition or could only be used to continue to cover rent loses on collateralized property as part of the loan (to to pay taxes and insurance and the mortgage or something)? 

Trying to get a read on how this works....thanks!!

Interesting topic. 

@Linda Weygant Totally agree! I bought 10 properties in 2019 so have really ramped things up. When I was smaller fries previously I was totally able to do everything with Turbotax comfortably and now I am seeing my own limits and need to cede to the pros on my tax accounting. Really appreciate it!

@Linda Weygant yes, interest on my mortgages. I don't spend 250 hours on managing any of this (believe it or not) separately, in aggregate, or otherwise, so not sure I qualify. Will be talking to my accountant. Yes, I already deduct taxes and insurance naturally. I'm not that far gone and my question was very narrow as related to QBI. Thank you for your comments.