Excited to move forward, we reached out to the buyer to let him know the good news.Here’s where things got tricky.The buyer came back to us with a curveball.

Reach out if I can help!

Check out SDREIA run by Andrew Adam and others.

When you refinance to the agencies, their terms are longer, 10 years and sometimes longer.I would jump on a call with a mortgage broker to discuss various scenarios.

Im debating if its a good idea to refinance to a 15 year 4.375 fixed rate paying 2 points. it looks like a win win in most scenerios because of the rate savings and shorter term.

@Adam ZbiciakI've been pricing these in the high 8's and low to mid 9's for most scenarios, similar to as you've described here.If you have a larger loan, stabilized with good cash flows, strong experience with 9+ properties, and strong liquidity, I've quoted these in the 5's (at par) at 55-60LTV with a Family Office I work with. 

They might be thrown off guard by saying I'm going to charge them more rent for their own built out. 

I could very easily hit the threshold for a month in one weekend without a qualified applicant and no way to proceed in sending out these forms for a signature. 

Should I send a notice out to my current tenants that their rent would be raised to $1400/m effective Nov/Dec 1st and if they can’t do it that they would need to leave by then? 

@Saurabh Kukreja we don't recommend investing via zip codes - too broad of an area.We've mapped out all of Metro Detroit and categorized Cities & Neighborhoods by Class A, B, C, & D.We take assisting investors very seriously, just read below:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?