Diane T.
Becoming a Loan Officer before investing in Real Estate
15 March 2024 | 2 replies
Although based on my research too, being a loan officer is very time consuming too.
Jesse Imes
Short Term Rental Refi
15 March 2024 | 8 replies
However, for any SFR and duplex, a residential lender will value the property based off the sales comp approach, just an FYI!
Raja Shan
Terminate w/o cause. Financial incentive for the tenant to move out?
15 March 2024 | 10 replies
If you want to buy them out of their lease early, I strongly encourage you to engage an attorney.
Account Closed
tenant wants to stay for 3 years+, what to do?
15 March 2024 | 25 replies
I strongly recommend not doing more than a 1 year lease.
Vadim Iuras
Hello, everyone! Vadim here
15 March 2024 | 1 reply
While I am not based in KC I am familiar with the area investment-wise.
Account Closed
Seeking Advice! How Much Should I Offer for the Remaining 2 Units in the Building?
16 March 2024 | 14 replies
I've recently had the roof replaced and fully updated the common areas.Here's a breakdown of the situation: The units are currently marketed as furnished rentals (cashflow well), and based on the current income of the 4 units I own, I anticipate that all 6 units combined will gross $182,400 annually.
Isaiah Thelwell
Seasoning periods for Refinance?
14 March 2024 | 18 replies
Banks and credit unions can also offer flexibility for investors that engage in strong relationship-building strategies, offering discounts and solid loans in exchange for borrowers willing to use the institution for other purposes (savings accounts, etc.).
Jonathan J.
Question on learning path and selecting a niche, finding mentors, building a team
15 March 2024 | 5 replies
For myself, I think my ultimate goal is to have an alternate cash flow to offset my dependence on a day job, which would allow me to choose a job I enjoy rather than have to find a job based on salary and ultimately allow me to travel with family more and enjoy life rather than stress about money.Thanks in advance and hope to connect and gain wisdom!
Patricia Andriolo-Bull
2 properties / 3 listings
15 March 2024 | 7 replies
I would base my decision on that.
Joe Baier
Subject To Deal. What am I missing here?
15 March 2024 | 14 replies
My goal would be to buy, rehab, get up to market rents, refinance at a better rate.Three duplexes in Virginia:Property 1 (2 units - 2 bed 1 bath each)- Appraised Value: $245k- Mortgage Payoff - $183k- PITI: $1709.57 - Interest Rate: 9.25%- Total Current Rent: $600 (one unit is vacant)- Market Rent Based on HUD: $2986Property 2: (2 units - 2 bed 1 bath each)- Appraised Value: $270k- Mortgage Payoff - $202k- PITI: $1845.29- Interest Rate: 9.25%- Total Current Rent: $1450 - Market Rent Based on HUD: $2986Property 3: (2 units - First is 3 bed 1 bath, second is2 bed 1 bath)- Appraised Value: $263k- Mortgage Payoff - $190k- PITI: $1809.04- Interest Rate: 9.25%- Total Current Rent: $1500- Market Rent Based on HUD: $3572Other Factors:Total Current PITI is $5363.90Total Rent is $3550Tenants are all month to month with 1 unit vacantEquity After Deal: $197k (may be more as appraisals were done 1 year ago)Rehab costs to get market rent: $20k per unit or $120kLet me know your thoughts!