All Forum Posts by: Chris A.

@David H. Did you find a tenant?

@Imran Kahn what did you end up doing?

@Annie Scott did you lease it out? I have one for lease in Los Angeles, so just curious

@Andrew Dewhurst are you just renting chairs or are you a dentist as well?

@Jaysen Medhurst thank you! I need to call around, two of the tenants are paying me a lower amount than their normal rent amount. But the income still covers the debt 4 fold

@Christopher Olsen thank you, would Utah lenders lend on California property?

Duplex, $310k existing loan, $200k cash out, 2.940% for $16k in points, and about $3k in closing cost.

looking to do a cash-out refinance on a mixed-use property. Property is worth around $1.25 million and debt is around $250k. Is it reasonable to pull out $500k in today's market taking into consideration Covid-19? Also, What would a good rate be on something like this? 

Initially, I wanted to get a LOC as a 2nd but couldn't find a bank that would do this for me. Is there? The funds will be used to purchase another commercial property (that I don't know yet) The LOC was a primary method so I don't have to pay interest until I need the funds.

Any help or recommendations would be much appreciated

So I am thinking of doing a cost segregation study which will create a $250k loss as 481(a) deduction on my 2019 tax return. If I apply for a loan next year, will the lender count this 481(a) deduction as depreciation, where they add it back to my income, or would this completely screw my debt to income ratio?  

@Timothy Brennan what is hml?