All Forum Posts by: Arthur Voskanyan

my question is, if I own a $20million dollar mansion, what other imvesting strategies can I utilize to gain more profit? Can’t flip it? It’s already as modern as it gets, it can’t appreciate that much from $20 million, and how is going to rent out a mansion for $100,000 when you can buy a condo for that price?

Arthur V. 

I’m talking about as an investor not a residential agent?

Can you always/ continuously make money on residential. For example, let’s say you climbed to the top, and sell million dollar homes in Beverly Hills as in investor, I mean there isn’t much fix& flips you can do with homes worth $20million+ also, long term rental income would be low, even though the location is desired, just because if you dk research you can see the vacancy rate is high. I mean who would want to rent a mansion for $20,000/month? Even then it wouldn’t be consistent rental cash flow, considering property taxes, electricity and such. And the properties can’t appreciate anymore than 20+million already. Of course there is raw land, commercial real estate. Maybe Im thinking over too hard. Arthur Voskanyan

The point of all this is to own 2 homes on paper, without actually paying the downpayment because it’s in your Asset of a home’s appraised value. So, after you on paper state to put down 75% of 200k, you have 50k you are borrowing and which re-investing and renting out in 6 months I would pay off the 50k and own 2 homes free and clear? Now you have $400,000 in Equity! Arthur.

Ok, let’s say I use the home as collateral and let’s say I put down 75% of that $200,000 ($150,000) and finance the rest of about $50,000. Just to make the numbers bigger for the bank. Would that be legitimate, they still make their interest on $50,000 and I really didn’t put any money down, just if I default they take my home, and I only have to pay up $50k + whatever interest occurs right? Arthur

I just need some clarification regarding home equity loans? For example, if I own a clear free FMV home of $200,000 and I want to purchase another, with a mortgage acquisition, why can’t I put down 99% as the downpayment and have like $1,000 as the loan balance and just own two homes once the $1,000 or whatever the 1% is left? Arthur Voskanyan

Is the $10,000 available cash in our example is a reference to a HELOC rather than just a regular home equity loan? Arthur

If I have a paid off home of $200,000 FMV. Can I purchase a 2nd home of the same FMV $200,000 by taking out a Home Equity Loan? Will I able to put however much downpayment I want? If I want to put 50% of $100,000 on 2nd home could I? Assuming I have a low DTI and perfect credit? Arthur Voskanyan

So the example of, 85% of $200,000 is that a standard amount you can borrow against your home value? So if they remaining loan is $160,000 like you said, $10,000 is my available cash, but I wouldn’t use that $10,000 as a down payment, they would use the extra 15-20% over the 20% threshold of my original home’s equity of $40,000 as a downpayment for new home correct? Arthur

@John Leavelle, Thank you John, I’m little confused as to where are you getting 85% of $200,000, is that a standard percentage? Also you said, in order to get a 2nd mortgage of $200,000 value of property I would need $70,000 equity available? I don’t see why would I need $70,000? Wouldn’t I only need 20% not 35% which 70/200,000? I don’t see why I need $70,000 worth of equity. Thank you Arthur