All Forum Posts by: Christian Bors

@Dawn Anastasi wow that's so low. I bought 35k property we are renovating but the taxes are crazy high at $3600 :(

I know you discussed the neighborhood class but how is the demographic. Is it very rural relatively speaking? Will it be easy it rent? 

@Dawn Anastasi Great Diary! 

Are you pulling up the sticky tile or laying it on top? Also, how old is the property and what are the taxes like?

@Mark Bookhagenthanks for the link. Any suggestion for a sliding closest door? 

Hello,

I owe a 3 unit building where I live in the basement and rent the other 2 units. I just got a message from the tenant who lives on the top floor complaining about the child in the middle slamming doors. Both tenants have been ideal and tenant did say its a "minor" complaint. However, I don't want this to escalate. I have heard the slamming of the doors, but it doesnt really bother me. The doors the tenant is talking about are the closets doors mostly. What should I do? Are there any products out there that I can install so closets/doors cannot be slammed? Should I just ask the middle floor tenant to not slam the doors?

Thanks.

@Glen Smith also if you are worried about interest rates, I have seen some banks such as memeber first advertise 15 year fix Helocs at 3.99. However I doubt rates will move soon, and if they were to move the increase would be minor. This doesn't solve your problem but if you have to hold it longer at least the rate won't change if that's one of your concerns.  

Feel free to pm, I'm a local investor and banker harrisburg.

I agree with Barbara.  Gotta know the other info.  Are utilities included or separated? With taxes, insurance, water, trash etc... this property might be negative cash flow, however you need the other info to make an accurate analysis.

Also, whats the condition of the property?  Is it older (1900 built)?  Does it need renovation to get 1300?  You should include vacancy of at least 1 month, plus repairs, cap ex.  All of this needs to be included in your analysis.  

http://www.biggerpockets.com/renewsblog/2015/03/30...

@Account Closed

@Joe Villeneuve I think you make a good point.  I love the idea of acquiring multiple properties with cash refi's and then use the cash flow to snow ball your debt.  I think it depends on what you are trying to achieve and how you plan on achieving those goals. 

@Justin Palamara first, thats awesome your property has built over 100k equity within 4 years.  In your current situation, I'm not sure if I would refi to a 30 year mortgage.  Basically, you will be sacrificing 15 years to acquire 1 more property.  Too me that trade off isn't worth it.  However, if you were going to refi and buy several properties I would reconsider doing the cash out refi and extend to 30 years.  

The more I think about it I'm not sure.  Interest rates are still very low.  It probably makes more sense to use leverage while money is cheap to keep buying.  I guess it all depends on what your goals are.  Sorry I couldn't help more haha.

@Steve Babiak well in my case the letter was for my friend. He did have access to his parents heloc. I know his parents and I was the person who actually set up the line of credit so I was very comfortable with typing the letter. If the banker knows someone is backed with funds I guess it comes to a comfortablity level. In my case there were no issues but i can see how under different circumstances this could cause a problem.