All Forum Posts by: Dale Miller

What's the average price for a property management company?

Do you sign a one year agreement?

How do they pay you your earnings?

Is it possible to wrap closing costs into rental property mortgage?

Some loan estimates I've been getting requires an extra 5k plus taxes and escrow to have at closing. 

25% down payment plus 8-10k additional to close is adding up a little fast making me sweat LOL

@David M That is what I think is a good idea. I've been lining up lenders for 2 or 3 weeks. Origination fees are pretty close all about within $150. Closing costs (loan cost) are way different and I'm wondering why one is 2500 more. Also not sure if I should compare the other closing costs not associated with loan closing costs because seems like it is a guess about taxes and insurance and escrow. Thanks for your reply!!

@Paul Shannon Sounds interesting. After analyzing the cash flow and monthly payment on a HELOC. The monthly payment on a HELOC is over 300 more per month because of the 20 year repayment. It just looks like it eats the cash flow per month and brings it to 125 instead of 500. Thanks for your reply!

5 Must ask questions to ask a multi family seller that you need to ask before you analyze the deal?

@Mike McCarthy I am getting quoted 5.13% for rental property mortgage plus $1200 origination fee. Seems way too high (This is a second property)

@Mike McCarthy This will be my first rental and probably keep it as long as it cash flows but I read that if you keep a rental longer than 10 years then it will start to need more expensive repairs and eat into your profits. I don't know if I should do a 30 year fixed conventional or 20 year HELOC. Thanks for your reply!

Is a HELOC a good choice in today's market with such few supply and greater demand.

the buyers with cash offers are usually the winning bids

Would probably give you a quicker transaction and more leverage when negotiating 

The money is available only when you need it.

It has great flexibility and light fees but can only do 20 year which makes payments higher and your cash flow per unit way lower. 

What are some opinions on using HELOC in Fall/Winter 2020?

What are the reasons over conventional loan?

When comparing loan estimates what are the most important things to consider in order to know which deal is the best now and the best in 5 years?

APR? Interest Rate? Origination Fee?

I've been getting mortgage loan estimates and they are very different and actually changed in the last week.

Is it possible to get detailed loan estimates without giving my SSN

My credit score went down 23 points ever since I had 2 estimates so far. 

Should I have a set of questions that should always be asked for every property every time?

When just casually shopping for a rental property, should I ask the listing agent a few questions or should my buyer's agent ask all the questions and make all the calls?