Skip to content
×
Pro Members Get Full Access
Succeed in real estate investing with proven toolkits that have helped thousands of aspiring and existing investors achieve financial freedom.
$0 TODAY
$32.50/month, billed annually after your 7-day trial.
Cancel anytime
Find the right properties and ace your analysis
Market Finder with key investor metrics for all US markets, plus a list of recommended markets.
Deal Finder with investor-focused filters and notifications for new properties
Unlimited access to 9+ rental analysis calculators and rent estimator tools
Off-market deal finding software from Invelo ($638 value)
Supercharge your network
Pro profile badge
Pro exclusive community forums and threads
Build your landlord command center
All-in-one property management software from RentRedi ($240 value)
Portfolio monitoring and accounting from Stessa
Lawyer-approved lease agreement packages for all 50-states ($4,950 value) *annual subscribers only
Shortcut the learning curve
Live Q&A sessions with experts
Webinar replay archive
50% off investing courses ($290 value)
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

User Stats

5
Posts
0
Votes
Steve Borgman
  • Real Estate Investor
  • Des Plaines, IL
0
Votes |
5
Posts

To Sit Still or To Expand?

Steve Borgman
  • Real Estate Investor
  • Des Plaines, IL
Posted

My business partner and I bought our first deal about 1.5 years ago. We had to rent it at a slight negative cash flow, with the rent paying for the mortgage payments, but not covering the tax payments totally. The renters have been fantastic, but are moving out of the country, so we need to fill the place again by August 15.

That's not the total point though. We have tried to refinance twice, and although we have good credit, the reason for not being able to do so was that we had not been landlords long enough: This was in February, at the 6 month mark since the house had been on the market (by us) 6 months previous.

We would like to refinance, pull out some equity in cash, and make our next investment, but are currently stuck because of no liquid cash, yet now is one of the best times to buy.

Any creative solutions you can think of? Or is now the best time to hold and be patient?

Loading replies...