All Forum Posts by: Clayton Hepler

I am thinking about moving out to Colorado (Denver or Vail) and becoming a HVAC guy, plumber or electrician, because my wife is originally from there. I would love to hear to pros and cons of these professions as well as the Salary for an average plumber, HVAC and Electrician 1 year in, 3 years in and 5 years in(When I would want to run or partner with someone to start my own Business). I am very business oriented ( I own real estate rental properties in Pittsburgh) and went to one of those upper brow snobby universities (Down vote!)

I have never really been a work with the hands type, but I see the opportunity to run my own business in this profession and I think that It will be around for a long time. How would an experienced investor or pro approach this problem? 

Anyone have any recommendations for companies that offer surety bonds for smaller portfolios? I have about 5 units now and the larger surety bond companies will accept me.

I'm having trouble finding good HELOC lenders with low fees and good rates to lend on my 3 unit in Pittsburgh, Pa any recommendations?

Does anyone have experience with Steven Salas at Birchwood group LLC for lending? I'm looking at a loan product that is 5% irrespective of the loan amount or the nature of the investment with a 3% origination fee and insurance fees for a triplex value add acquisition in Highland Park.

I have built enough equity in my 3 unit to BRRRR a FHA 203K loan by refinancing into a conventional 80% LTV 30 year fixed loan. I want to cash out refinance my loan to a 30 year fixed rate loan at 80% LTV and theng get another FHA 203(k) loan to buy another 3-4 unit and fix it up to live in it with my partner.

1. If I refinance in less than 1 year(I closed at the end of last July), less time that the 1 year FHA requirements to live in the property, will my 1 year requirement of living in the property and also my FHA requirement be wiped clean?
2. Could I use an FHA loan 203K to move into another property with my partner shortly after refinancing?
3. Are there any other low down payment loans with construction elements to them like the FHA 203K loan?

Clayton

I have built enough equity in my 3 unit to BRRRR a FHA 203K loan by refinancing into a conventional 80% LTV 30 year fixed loan. I want to cash out refinance my loan to a 30 year fixed rate loan at 80% LTV and theng get another FHA 203(k) loan to buy another 3-4 unit and fix it up to live in it with my partner.

1. If I refinance in less than 1 year(I closed at the end of last July), less time that the 1 year FHA requirements to live in the property, will my 1 year requirement of living in the property and also my FHA requirement be wiped clean?
2. Could I use an FHA loan 203K to move into another property with my partner shortly after refinancing?
3. Are there any other low down payment loans with construction elements to them like the FHA 203K loan?

Clayton 

Does anyone have any investment experience with Boarding Houses in Pittsburgh? I'm interested in this asset class, but know so little about it.

I live in Highland Park now and have a 3 unit there. I can't help but think that Homewood is going to be the next place to pop, but man are there some rough areas! I'm looking at a SFR package on Bennett and one on Garrett... my question is, what do other investors think? Is the juice worth the squeeze here? Is it going to pop or isn't it? What returns do people look for to buy in areas like this?

Hey 

@Jerry Padilla,

It seems like a 2-4 unit would qualify for a vacation loan?

Regards,
Clayton 

@Alex Shimm, When things calm down, We will restart the Creative Capital Meetup!