James David Ludovina
Renting back to owner after closing escrow in Charlotte
21 April 2018 | 3 replies
They signed an additional 1pg standard rent back form from our real estate agent and paid us upfront the cost of 1 month mortgage +10%.
Greg L.
Managing Interest Rate Risk
4 April 2018 | 10 replies
If you go this route, I would focus on a single property - the one which is costing you the most in interest and/or the one which will yield the biggest free cash flow once paid down - until you reach any prepayment limits imposed by your financing terms.Additionally, if you are able to switch your payments to {accelerated} bi-weekly (26-payments a year) from monthly, that alone will trim your amortization and total cost of borrowing.Another thing I frequently do is to take-on variable rate financing on a property (which is usually at a lower interest rate than a fixed rate loan ... by as much as a 1 pt), but set my payment as though I have a fixed rate loan.
Drew Eldridge
How would you handle this?
4 April 2018 | 5 replies
If the paid off property can support a $150k mortgage, I'd go that route.
Stefanie K.
Re Finance 2 Condo Units in Logan Square - <50% Owner Occupancy
4 April 2018 | 3 replies
I own 2 condos in the same building (~$150K value each) in Logan Square, one is financed through a local bank that sold the property as a foreclosure several years ago and the other we paid for through a HELOC on our primary residence.
Joe Senchuk
Lease expires, tenant signalling they will refuse to vacate
19 April 2018 | 33 replies
Their rent is paid up for the month.
Esteban Hermosillo
VA loan MultiFamily properties.
5 April 2018 | 6 replies
I recently paid off all my debt and rent is my only expense.
Keith Linne
First Deal Analysis Feedback
4 April 2018 | 2 replies
Student Rental (4BR/1Ba) - $90,000 List PriceOffer: $80,000 purchase price, 3% seller paid closing costs, 20% conventional financingCash Outlay: $20,000 ($16,000 down payment, $4,000 rehab)Rent: $1,240/mth Mortgage Payment (P&I): $344/mth ($64,000 @ 5% interest, 30 year am)Taxes: $133/mthInsurance: $150/mth Vacancy: $112/mth (9% - playing this conservatively)Maintenance: $75/mthCapEx: $125/mthManagement: $149/mth (~12% rents collected, conservatively assuming full occupancy)Utilities: N/A (covered by tenants)I like this deal for a couple of reasons.
Steven Matthew feliciano
Wholesaling Contact Process
13 October 2021 | 2 replies
They will do the title search to make sure all the liens on the property get paid off.
Royston Gibbs
Going rates for comps
4 April 2018 | 2 replies
I wasn't aware people paid for them, if you partner with a broker they might do it for free.
Shaun Alexander
New member with a big problem! Contractor wants more money
21 April 2018 | 14 replies
The contractor currently is refusing to continue work and wants to be paid ~$13000 for extra foundation work based on a subsurface condition clause.