Dan O'Neill
Bank Frustrations: Loan Mod; Prepayment Penalty; Refusal of ELOC
Good Morning Everyone. I'm more than a bit frustrated with my current lender. Five years ago, I purchased a 16 Unit apartment complex for 472k put about 150k into it. Raised the rents from $500 to $800. Reduced va...
Eric M.
Help with BRRRR Strategy - HELOC or Cash out in today's market
Hello All.. Im currently in the process of renting out my primary residence. I have a few questions on the best way to implement the BRRRR in my scenario. My home is currently valued at $320k and I owe $97k. My curren...
Mark Grozen-Smith
Short Term Rental Expense Ratio
Hi BP friends,I'm looking at acquiring a property for use as a short term rental (STR) and I want to know what the typical expense ratio is for a STR. I know the benchmark for multifamily is ~30%, but I haven't found ...
Mike Quinn
Colorado Springs Turnkeys
Hi everyone,I'm an expat and looking to invest in turnkeys. I'm interested in the Colorado Springs market. Does anyone know of any turnkey companies in Colorado Springs? Does anyone have any experience in the Colorado...
Joe Di Fonzo
First Purchase Made! Multi-Unit Hamilton, Ontario, Canada
Proud to announce we purchased our first multi-family home (triplex):-Purchase price: $320,000-Needs some improvements in each unit (kitchen, bathroom cosmetic modernization) likely to be in the neighbourhood of $20,0...
Andrew P.
Cash Out Refinance
Hey BP,I've searched the forums and am still trying to figure a few things out regarding refinancing. I bought a multi-unit in Chicago, IL that I have lived in & rented out for what will be 2 years in April 2017. ...
Jason B.
HELOC: 90K or Cash out VA Refi ?
Just looking to get some opinions/advice on the options below. Cash out VA Refi for lower rate and cash up front? HELOC with higher interest and different term? Keep in mind I am not 100 percent set on living in my cu...
Dan Gustavson
HELOC or second on rental in SLC
Hello all - Anyone in Salt Lake have success finding a lender that will do a HELOC, or second mortgage, on a rental property (NOO)? At the moment I am unable to do one on my primary residence. Looking to tap into my e...
Vincent Ngo
Refinance Investment Properties
Hey all, Just wanted some thoughts- I live in Philadelphia and am hoping to acquire a property in my LLC. As far as my exit strategy; it is for a buy and hold and am wondering which banks/credit unions do you guys rec...
Jon Haney
Does a HELOC make sense in this situation?
Hi everyone,Currently I own two investment properties, and I’m considering taking a HELOC on my first property to cover a down payment for a third. This is my first time with any sort of creative financing, so I wante...