All Forum Posts by: Alex Corral

As long as your credit holds & your DTI works, should not be a problem to get all those mortgages. I agree with getting rid of the SFR & going MFR though.

I just closed yesterday on my HELOC with Third Federal. They have a max limit of $150k & it was super easy. Drive by appraisal which was $30k under, but I still got the max $150k. They have a 2% floor rate (best I've seen), and offer a .-74 under Prime. I probably shopped 20 banks. Using the money to buy cash, BRRR and then cash out refi. Although I also debate on the refi because mortgage rate would be about 5.5%, but then I'd be out of cash.

I did a lot of searching & the guys I like best were Ed from On The Level home inspections & Todd from Rock Solid. Don't have their numbers on me, but you can google them. I hired Ed today for 2 duplexes.

I'm in the same situation Stephanie Douglass . I'm using my cash for the BRRRR method on small MFR in the Midwest. Shooting for 13% cap rate +.

What are the rents there? I'm thinking of doing the same, only the rents here are expensive. My current mortgage payment is $1200 a month on a 15 year & the rents for a similar house are $2000.

I would be pissed! At that point, might as well go through the listing Agent. I agree with having a very serious talk though. If it's Deals she finds, can't say much about that. But, if it's a deal you bring, she should not be showing that to another investor.

I've been researching PM fees in all the different markets I'm looking in. The general PM fee is 10%, which I factor into my monthly fees. However, its apparent that all PM companies also charge a tenant placement fee and lease renewal fee (at minimum). There's also other fees which can be bill-paying fees, inspection fees, after-hour fees, portal setup fees, etc. I've found on average, this bumps your monthly PM fee an extra 5%. How does this affect who you want to use for a PM? Cheapest is not best, but definitely looking for value.

Andrew A. Great thread! This really helps for someone looking to buy in the Cleveland area! I like the returns but keep going back & forth on the taxes. Good to know they can be contested. Having to pay for water & sewer sucks.

I had a long thread about the 15 vs 30. I was dead set on the 15 because of the lower rate & total interest savings. Now, I'm leaning more towards the 30 because of what the 15 yr does to my DTI. Despite having a higher rate, you can always send more to principal, but if you go the 15 year, your stuck & the hit to your DTI affects future purchases.

Can someone please share Dan's contact info. Could not find online.