Forrest King
Should I replace the windows and siding?
I have a house (1600 sq ft, 3 bed 1 bath on slab) I paid 105k for. It was a d- in a nice neighborhood, comps in the high 100's and low 200's. In 2008 it appraised for 135k, now worth 146k as is. It's a Frankenstein/Go...
Stanford Walker
How and when should I talk to a bank to refinance a BRRRR deal?
It’s just a simple question I had. I was wondering when the best time would be to talk to a bank to refinance a BRRRR deal. Should I do it before or after the rehab or let a bank know I plan to refinance the house aft...
Calvin Kwan
[Oakland] Appraisals during COVID
Hi All,
During this shelter in place, do you know if appraisers are doing drive-by only, or are they actually going into units? I'm in contract on a vacant fixer unit that needs foundation work. I'm afraid if the...
Al Y.
Who do you use for CASH OUT Refi on multi family? Terms?
I’m looking to cash out a 3 family property in NJ that I bought cash and remodeled. My main bank says after 1 year they can do 75% LTV based on appraisal. Under 1 year they do 75% of purchase price max... rates for LL...
Finley Miller
Best options to refi a fourplex in Portland
We have a fourplex in Portland that has a seller-financed mortgage on it. Its worth maybe $900-$950k and is at about 40% LTV. We hadn't refinanced because of the prepayment penalty on the note, even though the rate ...
Jarred Jones
Conventional or FHA?
I’m playing to get my first rental property this year. I’m looking for a multi-family 2-4 units. My lender offered me a 5% down conventional loan as well as a FHA loan. I know I am required to stay in the home for at ...
Jeremiah Helg
Need advice on how to finance my offer in Louisiana
My lender will only allow me a minimum of $75k and I want to make an initial offer of $55k on a property I recently viewed. Are there other mortgage lenders that will lend $50k and up? Is there a work around to my pro...
Timothy Smith
Elm Street in Brewer
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Brewer.
Purchase price: $220,000
Cash invested: $41,000
Sick of all the fixer uppers? This 4 unit is in excellent shape wi...
James Chun II
Kansas City, MO bank 30 year fixed loan
Hi, I’m looking to invest in Kansas City, MO, and started calling the local banks, the first few I called have 3-5 year fixed rates then convert to arms. Before I call every bank can you tell me if this is normal or ...
John Lee
What is insurance attitude toward membrane roof?
The property i bough have brand new roof installed this year up to miami dade hurricane code. But the 4 points and wind mitigation inspection report show it is membrane roof rather shingle. Will this increase my premi...