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5 June 2024 | 2 replies
There's < 2 months of seasoning for the purchase, cash into the deal is ~$975k w/o rehab (minimal planned so far - turnkey), purchased the property for 35-40% below assessed value, 825+ FICO, and would optimally like to pull out $975K-$1.15M of equity.Main scenarios we've thought of to accomplish this are: 1) structure sale of property from SMLLC to self and secure 30-year new purchase financing on deal (unsure if legal and tax implications if above initial cost basis)2) delayed financing (LTV restrictions a concern)3) cash out refi (seasoning concerns)4) DSCR (seasoning and rate competitiveness concerns)5) one of the above plus a HELOC, personal loan, etc.?
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5 June 2024 | 4 replies
Personally, I would have the tenant direct deposit the funds straight into your bank account so neither of you are paying fees.I recommend two accounts: checking and savings.
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6 June 2024 | 4 replies
However, the tenant started missing rents but it seemed like she was going through some personal issues so I let her stay.
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4 June 2024 | 9 replies
Personally, I don't have any issue investing or managing over there.
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5 June 2024 | 28 replies
House hacking will also give you some personal "property management" experience.
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5 June 2024 | 1 reply
I'm under contract on a homepath property and need to add llc due to being a domestic violence, they are telling me I cannot because it's not considered a real person,I have to cancel the contract and resubmit an offer as an investor, risking losing my dream home.
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5 June 2024 | 6 replies
Small multifamily buy and hold is personally my favorite strategy.
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5 June 2024 | 6 replies
Know the family of a dead person?
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5 June 2024 | 8 replies
You'll get an idea of the rate, the down payment required, do they want an experienced manager to make the loan fundable at close- where would you get this person is it you?
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5 June 2024 | 4 replies
I personally like Mechanicsville and Pittsburgh area.