Alexandro Paredes
Heloc vs. Cash out refinance
20 May 2021 | 4 replies
HELOC is for short term money, cash out refi for long term.HELOCs have lower closing costs, higher variable interest rate, and interest only accrues when you actually draw funds.Cash out refinances will typically have higher closing costs, a lower fixed rate will be available, and interest starts accruing right away (even if it takes you 10 months to find your next property).A common pattern if you may find a deal in a month, or 10 months, not really sure, is to1) Get any refinancing out of the way, you have an FHA loan so you should certainly drop that off.2) Get the HELOC, leave the balance at $0 so you aren't paying interest.3) Buy the rental.4) Come back to the property with the HELOC and see if it makes sense to cash out refi and consolidate the 1st and 2nd into 1 30YF.If you're determined to score that deal within the next 90ish days, skipping right to a cash out refinance is probably best.
David Gale
VA Home Loan to Rental Property (Advice Needed)
20 May 2021 | 3 replies
Recently I found a property that I thought was extremely intriguing, which led to me running numbers and trying to make a determination if this property was the right fit for me or not.
Christie O'Malley
Ordinary vs Capital Gains: Calling all Real Estate accountants
19 May 2021 | 1 reply
-the seller should collateralize the note with the property (although the construction lender will want the note subordinated), pay off the loan (in addition to regular payments) with release fees as each lot is sold, and make sure the interest is paid (not accrued) regularly.Your issue is classics dealer vs investor issue.Note: Classification of gain as capital or ordinary is determined property-by-property, based on the statutory determination of whether the property is a capital asset or property held for sale to customers in the ordinary course of business.
Antonio Smiley
looking for someone to help me to analyze a property next door???
19 May 2021 | 1 reply
Next you will need to determine how much work needs to be completed on the property and develop a cost estimate to conduct those repairs.
Andrew Tozzi
Newbie Account Setup and Receiving Payments
15 June 2021 | 3 replies
That's sort of the opposite mentality of investing..Does this make any sense?
Brian Desch
Looking for the best way to evaluate FMV and rental estimate
20 May 2021 | 2 replies
What are the best/most accurate tools to determine fair market value for a property?
Jessica Wygal
Would you sell or continue to hold?
20 May 2021 | 7 replies
I did more research and thinking after I posted and I determined that I am likely eligible for the primary residence exemption on taxes which negates the capital gains factor.
Dell J.
My Tenant Died, what to do?
31 May 2021 | 8 replies
Crazy.You should try to determine if someone in the family is able/willing to take responsibility.
Avery Robertson
Due diligence on MHP
29 May 2021 | 6 replies
@Avery Robertson our approach to due diligence begins with determining if the value of the park is in line with the seller's price expectations.
Oscar Cardenas
Get that Cheddar - Oregon News
11 November 2021 | 9 replies
My assumption has been that higher density would equal greater value for the land but don't know the metric for how to determine that given all the unknowns with the new legislation.