All Forum Posts by: Account Closed

Two owners in the same family own a rental (tenancy in common), Owner A is on the mortgage by himself. Both parties are on title. If owner B manages the unit and takes care of all expenses (Taxes, HOA's Maintenance, Management) is he entitled to the mortgage interest deduction even though he's not on the mortgage?

I'm looking at a few deals (duplexes) in NW OKC and would love some feedback on the neighborhood in general from someone on the ground.  How is the area around zip code 73162- specifically around Putnam City North High School/ N Rockwell Ave?   Appreciate any info.

Woody   

@Matt K. you are right.  I will have to replace approx 700k in debt.  

Hello all, 

I was fortunate enough to acquire 2 luxury investment properties in Seattle several years ago. Since then they have picked up significant equity. I have been keeping a close eye on the market up here and as soon as they get to the number I want, I'm going to liquidate. For the past six months I've been doing my homework, reading BP forums and a few books on REI to prepare myself for the next step, however I'm still unsure how to best achieve my goals. A little about me, 34 Y/O I make approx 80k/year with my 9-5. I don't enjoy working very much so I'm looking to replace my work income with passive income and retire within 3-5 years. I will have approx 1.1M to play with and here's what I've been thinking:

1. Pay cash for as many 80-130k SFH's in solid B neighborhoods as I can afford. This could be done through either brrrr or turnkey. Try and purchase 1 additional home a year with income. I understand this option lacks an exit strategy but this is of little concern to me.

2. Multi family.  I could buy a 15-30 unit building outright or finance a 50 unit in the 2-2.5M range.  Here are my concerns with this option.  It seems like the multi family market is ridiculously inflated right now.  I suppose there are better opportunities off market but how much better could they really be?   I get that large multi family is more efficient to manage but it seems to me that they are A)Way over priced and B) Way lower quality tenant.  

My immediate goal is 7k/month cashflow.  My short term goal is 10K, and my long term goal is 15k.  What would you do?          

We've all seen the unprecedented growth in the last few years. The price of SFH's in Seattle has gone up 13.5% yoy. I'm considering selling my portfolio in the near future but I feel like it's not at the top yet. Do you think this growth is in the 9th inning or do we have several years left until we hit the ceiling? What are you thoughts?

@Andrew Herrig you don't think you'll have net cash flow on a 120k property that rents for $1200?  

I'm looking to invest in the greater Fort Worth area- Specifically SFH's in the 85-130k Range. My question to investors is as prices have gone up across the board in DFW, are you still able to cashflow around $400/door?

I'm looking to enter the SFH market in Texas. I'm intrigued by the areas surrounding DFW, Houston and San Antonio. I know there has been tremendous appreciation in some of these cities over the past few years but it is still a bargain compared to where I live in Seattle. In the 125-180k Range, whats your favorite (non war zone) sub market that can deliver a 10+ cap rate?

Yes I want to buy and hold long term so I'm selecting properties that will cash flow after mortgage.  Is this type of financing conventional/common or is it harder to find?

I'm looking to purchase a few SFH investment properties. My primary residence is paid in full and I have a 300k Heloc open. I plan on purchasing a SFH in cash (Heloc), Cash out refinance, hold, repeat. My question is what specifically is required for this kind of refinance besides a little bit of equity? Is there a time limit- will I need to hold for a year and show the income on my taxes or is a lease on hand enough? Are smaller lenders more lenient with these types of transactions? Any specific information on this type of refinancing would be greatly appreciated!