All Forum Posts by: Ashley Pimsner

Welcome @Lee Lockhart the calculators on BP are a great resource when underwriting a deal.

Is your GC experience in SFH, multi units or other, and what areas do you service?

Hello @Andrii Okipnyi I have used a particular i spector before and he has has a ton of experience, good communicator, quick turn arounds, and reasonable fee.

PM me for details.

@John Anderson purchasing real estate in a land trust is your legal right for estate planning and protected by Garn St. Germain Act of 1982 which prevents lenders from enforcing the due on sales clause when residential properties are transferred into a revokable trust and there is no change to the rights of occupancy.

What you are doing is looking for fraud such as lying on a mortgage application, late payments, or transferring property into an LLC without using legal methods I have described above

It is clear from your prior posts you know little about legal methods of asset protection such as land trusts or LLC's that many successful real estate professionals use who follow the rules.

@John Anderson most investors do not use LLC's to hide owership as you state above, but use them to protect themselves from contingency fee lawyers who file frivolous lawsuits.

Land trusts are an estate planning tool that can provide privacy of ownership and when you assign the beneficial interest of land trust into an LLC can be an effective way to hold your real estate assets.

In addition, a land trust can help avoid county transfer taxes and help avoid due on sales clause when encumbered property is transferred into LLC as long as property 4 units or less and doesn't have a loan that is federally backed.

Portfolio lenders who give commercial like loans evaluate a deal based on DCR and most will only lend to a business entity like an LLC.

I hope this provides some clarity.

Brrrr and dti should not be used in same sentence.

Find a local credit union or small local bank and get a portfolio or commercial loan that looks at dcr not dti.

Hello,

Do you have comps and a list of repairs, real estate taxes, and avg rent for subject.

Please send any additional info you might have on property.

Best,

Ashley

Welcome @ James B, you are in the right place to help you reach your real estate goals. 

Just because NOI improved doesn't mean cap rate for subjects location improved. Increased NOI thru increased section 8 rents ( have you factored in or increased vacancy) or decreased expenses ( Have you considered RUBS for utilities to decrease expenses ) of $36,208 @9 cap should increase valuation to $402,311 at which point you could either attempt to sell or refi with commercial lender at 75% ltv and pull out your original 80k+ and simply enjoy the monthly cashflow.

Revenue or NOI? NOI determines cap rate.

@Trenton Dunn that's perseverance at its best.

Well done and post more often both good and bad.