All Forum Posts by: Casey Walker

I have a three bedroom unit that I rent out by the room, we advertise on Facebook and Airbnb.  Most of our tenants book on Airbnb and they are some kind of traveling professional.  They expect more and are willing to pay for it.  

I found an expired listing for a house that i would like to buy.  Looking at the tax map I can see who owns it but if they dont live at that address how do i find their address to mail them a letter?

Yes, in PA you can get a "do not trespass order" and then that person can be removed if they come back.  I think banning all visitors is a stretch.

Parking is a problem and its hard to remain calm when someone else is acting strange.  

I had a woman tell me that i could not park in a spot in town and she called her property manager to complain about me.  I agreed that i would move and just asked if i could talk to the property manager on the phone , again i said that i would move but i would be finished with a repair soon and she agreed that i could stay.  I followed up with a hand written thank you card to the property manager and included a business card for my construction business.  I now do a lot of repairs on her units and I text her monthly with questions about my rentals and she helps me for free.   

10 years ago I read " how to win friends and influence people" and it has REALLY helped.  

Thanks

Thanks for taking the time to reply.

My bank has clarified for me that at year 5 we will lock in a rate for the next 5 years.  

Refinancing a commercial property and the bank is saying because it is zoned commercial and has a large garage in addition to the duplex that I have to use a commercial loan.   5 years fixed at 4% then adjustable to the wall street journal prime rate.  If the rate in five years goes up to 10% then the payment would go up another $1,000 a month.  

Do I have any options to get a commercial loan with the rate locked in?

Thanks

Yeah, the 80% payment is only $100 more and thats no problem.  

Thanks

Refinancing my personal house and I can do 75% LTV at 3.5% for 30 years or 80% LTV at 4% for 30 years.

The 80% would put 20k more in my pocket that I could add to the piggy bank with another cashout refinance on a three unit and take all that to put down on a third property when I find it.  If I do the 75% I will have to save for another year before I can buy property number three.

What would you do?

Thanks

I am refinancing a three unit that I bought for 186K.  It appraised for 350 after a 60 k renovation involving making the two bedroom unit a three bedroom, making the three bedroom unit a four bedroom, adding a one bedroom unit to an unused back building and renting out a large unused garage.  

Refinancing at 75 % LTV or 262K if you subtract the 186k that I paid for it and the 60k renovation, im going to end up with 16k cash more then I have in it and 87k in equity.

Yes, I found a smoking hot deal and worked my butt off to make it all work but I think this shows that the brrr idea can work with the right deal.

Thanks for taking the time to read this.

@Joe Villeneuve

Good question.

We have other jobs/customers that pay the bills.  This would only be several weeks a year.

I am a contractor and I own a duplex.  

My understanding of the tax law is that I can't write off any of the work that I do on my own investment properties.  What are your thoughts on trading labor with another builder/investor so we can each legally write off the labor?  

What is the saving?  Just the 25% in income taxes on his labor bill?  Or is there more?

What is the negative?   

Thanks