All Forum Posts by: William Latti

Hey Everyone, I'm looking for some advise on how to handle this situation with Bosch.  We ordered a Dishwasher that was delivered broken in October.  It has now been nearly 6 months and while the exchange was approved, they keep telling us a delivery date that passes and then they don't have an update on the unit so are now getting a refund (6 months, when the previously told us the exchange would be about 2 weeks so we didn't ask for a refund then!).  At this point I would never recommend working or buying from them, but we still need a new dishwasher.  This is a seasonal rental, that we start renting typically April-October and obviously need a dishwasher for the tenants that already rented with that expectation (weekly vrbo's).  We ordered another at Home depot and are getting delivery Saturday, but they don't take the old one and Bosch won't give me an update to when they will take old unit (again horrible and they say all their service people are booked so cannot even give me an estimate).  They require the pick up of the unit to offer the refund, otherwise I'd just throw it out and tell them to pound sand.  We cannot leave the old unit in the house since we will have tenants and don't have space for it elsewhere in the house to store for Bosch until they decide they're ready to pick it up.  Just looking for advise or a solution with how to deal with this as it's extremely frustrating (also hold times with them are around an hour and you get no where).  

I have a question in regards to a home that is in an irrevocable trust that also has a current mortgage on it with a rate of 5%. With rates being where they are is it possible to refinance this loan through a lender without removing the trust with an attorney? 

thanks for any assistance in answering!

Thank you very much for the replies!

My tenant is interested in buying a single family home that has appreciated quite nicely since our purchase. The numbers don't make much sense any longer as a rental should he leave or we were to refinance.  I can also avoid some of the realtor fees with him as the occupant/purchaser.  I currently am in a unique situation with Covid as I can work anywhere and am past the point of my current primary resident multiunit where I could again qualify for a primary residence loan.  My question is can I do a 1031 exchange from this single family to a multifamily, with one of the units in the multifamily being my primary residence to qualify for the lower interest loan with less than 25% down?  

Thanks @Jaysen Medhurst, yes already spoke with my lender who I’ll be using on both the refinance and future loan. They said it it is not an issue to do the refinance, then only stay there 90 days, then move to a new primary in my case due to the circumstances, which I have in writing, but I’ll consult with my attorney as well.  I’m putting 20% down on the future home as well, that will be mg primary.  I also do have a separate heloc account on another rental, which is why I’m leaning toward the cash out, slightly higher rate.   the other heloc has zero balance currently and I use it for down payments/repairs then pay down. 

To add to this right now we have no primary residence, and in pa real estate is essentially shut down, so we are temporarily moving to our nj vacation home multiunit.

Thanks again for the input 

Will

Hey Everyone,

First time poster, long time lurker.  I think I already know what I’m going to do, but wanted to get the forums opinion.  I recently sold my primary residence and am moving into one of the units in my vacation Triplex during this pandemic to ride it out and build up my cash position, for future deals.  It was previously at a 5% rate (25% down, property sold at 625k and is now worth about 675K) and I am refinancing it to my primary residence.  If I keep the loan as is the rate will go from 5% to 3.5%.  If I cash out still leaving 20% equity I can take the money out on the property on the refi, which I would use to purchase another property in the coming months, the interest would then be 3.75%.  The other option would be to take the lower rate and take a post closing line of credit (which would fluctuate).  The issue is this will only be my primary during the pandemic, so temporarily, then I am moving to another home that will be my primary residence loan, in likely 90 days, so the equity line would then either not be approved under the secondary home or be at a higher rate than the refi.  What would be your recommendation here?  

Thanks for any help in the decision!

Will