All Forum Posts by: Zachary Engen

I'm looking to tackle some flips in Kansas city, I am not local but can come out as needed. I'm looking to add some resources to my list, agents that have done flips and vetted general contractors that have references! If you have any recommendations please send them my way!

Following! Hopefully we get an actual answer to this question😅

yep, MTR is his specialty. He just does STR in between bookings to fill in gaps.

Ive read a few things about onlying being able to cash out refinance 75% or the purchase +closing costs, whichever is lower. I plan to purchase a distressed property amd do the renovations with my heloc. Once I'm finished I would just want my purchase price amd the money I spent on renovations back back...

for example, i buy a house for 100k put 50k of renovations into, house would now be valued at 250k. I would just want to be sure I can get that 150k back to pay off my heloc..is this possible? The 75% thing I've read is confusing me.

thank for any info. 

WaFd does investment property helocs

I just got 2 airbnb up and going last month and I have a property manager, he also gets MTR insurance bookings. He uses buildium as the software platform. Am I wrong for wanting to see when my places get booked and how much they got booked for ahead of time? Buildium doesn't show that info, he has to manly upload the info which he does at the start of each stay... I'd like to see all the future booking so I have idea of what to expect. Am I being to micromanaging? Right now I can only tell by finding my properties on airbnb and looking at the calendars and what days are blocked of and assume those are bookings.

Looking for recommendations on a heloc, We own it free and clear and valued at 540k. Looking to take out a heloc of 350k and make interest only payments. Will be using it for a flip. Any recommendations on someone that can fund kind of quickly? We are located in Oregon.

I agree, i just hired a property manager for 2 rentals i own and they use buildium. I'm finding it very confusing and having a hard time deciphering the difference between all the reports, I don't like that bookings don't automatically sync up and they have to manually input the info. If anyone knows of any tutorials on the info I actually need on the platform that'd be much appreciated. For instance I see "net income" and I don't know if that what the tenant paid or that's what I'm receiving after the property management fee.

I need some advice on rental bank accounts. So I have an llc and business account set up for that llc, but I just bought a duplex with an fha loan which isn't in the llc because I couldn't get fha approved for the llc. Do I still use my business accounts to collect rent for my duplex even though it's not held in the llc? Or do I just open up an additional business account in my name?

Hello, 

 We own our house free and clear valued at about 580k. I'm considering using a heloc to fund a fix and flip. Plan to start small, buy a condo or townhouse wholesale that only needs cosmetic upgrades i.e paint, carpet etc. And pay off the heloc, Ideally in 90days or less. 

Heloc rates in my area are 8.5% whereas HML was quoted at 12% and 2 points.

once I finish the heloc can I pay off the principle only like I would with say an auto loan? 

Thanks for any info.