All Forum Posts by: Steven Horvath

I would be managing myself, repairs myself, i own a landscape company for maintance, properties 10 miles away.
Thanks for the info!
Steven

I have what is i beleive a subject to, here is the info i know
they owe 91k at 6.75% 22 yrs left 1013 a month, she says she can refi and get the payments down to 892/m w a 4.5 interest payment.
needs 3-4 k in rehab
house is worth 115 ARV.
Single family
3 beds
2.0 bath
1,496 sqft
Lot 6,455 sqft
Built in 2001
They would let me take over payments, and i know that i cannot do a assumable mortgage, so i am assuming this would be a subject to? would this deal cashflow if i could get the payments down to 892 a month? i can rent for 1200 a month, and am not able to get any other deals goin right now. any thoughts would be great!
steven

Welcome to the site, if you have the rehab money and good income as you say, yo can try seller financing as well, there are a lot of FSBO out there

In Houston, i had a realtor rent my house for me, as it was my first time renting.
She provided a excellent lease that covered everything. She got my tenants, showed my property, did the screening and background checks, and handle the papers. Then she told me about all the tenants and helped me pick the best one. At the end she brought me a copy of the lease and my check for security deposit. She split the first months rent (1150) with the renters agent, which i think is typical. Having said all that, i will be renting out all my properties on my own in the future.

i used this to clean the concrete in my pool, i wouldnt use it in my house on anything to long, it eats concrete.

22-35 sqft in Houston depending on color, but 25 is standard here. I put preformed in my first rental but have a granite guy now.

Thanks for the info bill.
when you mean a 2nd on my existing property, do you mean a 2nd mortgage?
Also when you say "If you pledge the old property with the new one, be sure that you have a release amount for the old property"
is there a standard percentage of the loan amount to be paid before the old property is released, or is the amount whatever we assign.
I am trying to work this info into my private lender presentation, thanks for all your help!
steven

thanks a lot guys great stuff!

Hey guys. i have 1 rental property that has 25% equity, about 25k realistically. I know i cant do a cashout refi, however is there a way i can utilize this to fund a 2nd property? how would i be able to use it with a private lender to make them feel more secure about a loan on a new property?
I know i might not have enough equity to use it yet, just wondering what the possibilies were. Thanks!
Steven