All Forum Posts by: Avi Garg

@Lance W. I would suggest to only pay the credit cards for now and bank the rest if you can make the paymentd. With the house hack and baby you may need the extra cushion in the bank. I am guessing the student loan would be low interest rate.

@Curtis Pollard if you can make more than 30k (after taxes) in your second live in then sell it right now. If not then wait

@Tim Swierczek 

@Kurt Pauley

I am not in MSP this week and the plans are still up in the air. Once its finalized, I will reach out to you individually and schedule something.

Just started a consulting project in Minneapolis and since I will be traveling back and forth for the next few weeks, I thought I would connect with the local investors (buy and hold, wholesalers etc) and talk shop. Want to get the details on investing out here and understand the areas better. Anyone up for it? Drinks/dinner/coffee on me.

I do see a local networking event in August and plan to attend. If there are other events/networking opportunities, please let me know.

@Mike Snyder Send me more info on the properties in spanish lake area. My email is [email protected]

@Account Closed Did you even read through the costs line by line ... the lender is only charging 0.5% in points ($437). Most of the rest is title costs and your other costs. Transfer taxes are the biggest at $2250. I usually don't see 12 month of property tax in escrow but that's the only place I see that you can save money upfront (the money in escrow is still your money). Why are you paying $300 in additional brokerage? The broker should be getting paid by the seller. Also, what is the final inspection fee? What did they inspect?

At this point even if you go to a different lender, you will have to do a new appraisal and end up spending even more as most of the items listed will be there by other lenders as well. 

Nancy Bachety why do you not want to give the address? If I am booking a property I would like to know the address as well. That way I can look up what’s nearby and plan accordingly.

Originally posted by @Michael Swan:

Hi @David Grabiner,

In the last housing crash, people lost their homes and rents went up.  People lost their homes and had to move somewhere.  Downsizing to an apartment was the logical choice.  In my area of the country, rents just kept going up.

 Where is the proof that rents went up? When people lost their homes, most probably lost their jobs as well and hence cannot qualify for apartments. 

Also the reason for my first post here was to point out that you can easily point out the differences and that you would like to have separate forums rather than bashing on an investment vehicle specially one that made you what you are today. 

Michael Swan I know you are trying to stir up discussion but remember you were only able to buy multi family apartment complexes because your condos and other single family investment in San Diego appreciated a lot. Also apartment complex also loses value when rent goes down so when economy is tanking, the rent does comes down and hence the NOI and the value of your apartment building.

Getting a private loan for the first time and wondering if someone can provide me a list (and possibly a copy) of the docs required for private lending? The loan will be for a short time (6 months or less) and will be 1n the 1st lien position. Any help is appreciated.