All Forum Posts by: David Epstein

Jason, Thanks much for that insight. I have considered the HELOC option, but not explored it fully. thanks for putting it back on my radar.

Thanks, all!

Thanks so much!

BP friends, 

I am in possession of a coop in NYC suburbs.  Unlike most coop owners, after I moved, I have had no problem keeping it rented.  Due to size of mortgage (currently ~$50k) refi to cash out and expand my portfolio is not an option.  Coops also normally carry a mortgage rate premium (~1% above other conventional loans).

So, right now the mortgage is paying for itself, and cash flowing for me.  And the current tenant signed a lease through 2020 and her job literally relocated across the street.  One thought is sinply to hold it.  Mortgage should be paid off within nine years.

But ... 

I believe I could be doing so much more with this property and was wondering if folks had thoughts and whether people know if coops were eligible for 1031 benefit.

All thoughts and insights are most welcome.  I feel like I could sell this asset and use the equity for two or three other properties.

I hear what you are saying about future values.  I do not expect my next purchase to be in JAX, but you never know, especially if rising rates lead to a slump in prices.

Friends,

I recently bought in JAX via Roofstock.  relatively good experience, and weighing whether to go that route again.  Personally I would prefer to have a team of folks on the ground and go my own route, but I am posted overseas, so there are limits on what I can do and willing to pay a premium (for now) on turnkey rather than having to rehab from a distance.  

Right now I am in 32210 as well, right outside the beltway.

I have been using Suncoast, and am pretty satisfied with them so far (about three months in).  Question, how were folks able to obtain their services without a term contract?  Just curious, as I am not looking to change and have no problems thus far.

Regarding JAX, I like everything I have heard/seen and the numbers and analysis I have run.  Looking to expand sometime in the next 12-18 moths, and would love to speak with folks about off-market deals or any other investing ideas/partnerships folks can think of.  

BP friends,

My parents are looking to downsize ow that they have crossed the 70+ threshold.  They are currently living in White Plains, NY and hope to remain in the same city or at least the area.  Not adverse to some renovations, especially if my mother can get her ideal kitchen.  With grandkids aplenty, looking for 3+ br, 2+ bath, preferably with a finished basement and one car garage.

Apologies if this is mis-posted, but would appreciated any PMs from folks looking to keep it within the BP family.

Thanks

-D

I know there are many LLC-related threads here, but thanks for starting this one.

Two questions always arise for me when it comes to LLC:

(1) what is the overall benefit versus the cost/time of maintaining?  I understand the legal/financial protection, but if insured properly, or it the owner has an umbrella policy, overall, the benefits are somewhat minimal, no?

(2) if you have the property as an individual investor, how would you transfer to an LLC without having to repay the mortgage in full? Conversely, how does one go about obtaining a mortgage or other financing as an LLC without tremendous assets and/or years of experience? (I have been in RE for about 13 years, but only expanded to a second property in 2017). Are we talking SBA? Are rates higher?

Thanks all!

all, a recession is coming.  No I don't know when, and am not seeking to time the market or even predict when it will happen. But recessions always come and the current recovery/expansion/bull run is lengthy by historic standards.  2017? 2018?  Later?  I don't know.

That said.  Assuming a stock market downturn in the next 6-18 months with attendant economic effects (rising unemployment, declining interest rates, dip in home values), is anyone waiting on the sidelines and holding cash to either pounce on RE and/stocks when they drop 5-20%?

Thoughts?

Thanks as always to the BP community for thoughts and insights.

thank you so much for this @Tom Ott!