All Forum Posts by: Dan Tsunekawa

thanks Erik. I also called California Bank of Trust. They lend up to 55% LTV on a rental but charge some extra closing costs.

Hello BP,

I am calling banks and CUs to find one that will do a HELOC on my rental property, so far the only one i have found is Wells Fargo, but they seem difficult to deal with and sorta 'big banky' so to speak. I talked to one person in a branch that told me one thing, then i called a different branch and got another. They both needed different info from me about the property and i just didn't really feel comfortable with them.

Are there other small banks that still do this? or is Wells Fargo actually a good one to work with?

Thanks in advance

Thank you both. It seems I should adjust the gross rent down about 10% for vacancies and subtract somewhere between $1600-2000 for capex off the after that. Thanks so much for the help.

Wow thanks all for the great feedback. Sorry I checked again and it is actually a duplex not a SFH. Eugene Lee thanks for those numbers. I'm wondering if those are supposed to be capex+maintenance or just strictly capex? Thanks

I have been looking to invest in KC and i found a turnkey company with good reviews. Here is one of their listings, the big numbers are 
Sale price: $84k
NOI: $12,818

Cashflow with 70% Leverage: $8587/yr

Area: East 55th and Highway 71

These numbers seem excellent, almost too good. I have been reading a lot of posts about the KC market getting really tough to find good margins. This company has a handful of listings with similar numbers. Are their projections potentially way off? I have met with one of their investors and he said their projections have been very good for him.

Any advice would be greatly appreciated.

Year	Sq Ft. Estimated	Bed	Bath	Grade Opinion	Sales Price
1957	1632	4	2	C	$84,000.00
Rent	Projected Gross Revenue	Projected Tax	Projected Insurance	Mgmt. Fees	Projected Maintenance
$1,250.00	$15,000	$182	$500	$1,200	$300
Projected NOI	CAP %	monthly mortgage(70% LTV and 6% rate)	Cash investment	cashflow	Cash on Cash
$12,818	15.26%	$352.54	$25,200.00	$8,587.57	34.08%

I am specifically looking for a lawyer based in the San Francisco Bay Area.

I am an investor in California looking to expand my portfolio this year and buy two properties out of state. I'm looking a Missouri markets. I would like to speak with a local lawyer and discuss forming an LLC for asset protection.

Wow thanks for the info Zap. I will definitely keep that strategy in mind. That's a great tip.

Awesome thanks everyone so much for the advise!

Thanks for the response Robert!