All Forum Posts by: David Sanford

I ran into this situation once also. turned out the house I was trying to find was built on the same lot as another house. the owner owned a large lot and built a second house on it and somehow the county wasnt tracking the second home! I quickly passed on the project so I'm not too sure on where to start to finding a fix for this situation.

depends on the fees, penalties, and taxes she would have to pay for withdrawing. If a vacation rental income would surpass the above total, in addition to the avg interest gain her 401k is currently making then I would say go for it. I would try to find a more year round type vacation spot so that you can decrease your vacancy rate and ultimately increase your profits.

thanks for everyone's input! I suppose I should start asking for portfolio loans versus HELOCs. @Lane Kawaoka MFH just seems so much more intimidating. I'm comfortable with SFH but I really should consider stepping outside of my comfort zone if I want to keep growing my business! I'm assuming you mean 5+ units?

can you do a cash out refinance on the Seattle home and get enough out of it for a LA home?

has anyone found a way to tap into their equity in a rental? I have a significant amount of equity I'd like to borrow against to flip properties but I haven't been able to find a bank that will give me a HELOC on a investment property! very frustrating. I've hit the 10 mortgage limit and am now stuck at how to keep growing.

yeah Vincent thats sounds good. I'd love to help out however I can. just shoot me a PM sometime

welcome round 2! persistence will pay off. congrats on the house hack strategy, very strong move!

listen to podcast 283. around the 26:30 minute mark they talk about this exact question!

Hey Vincent. I'm in the Richmond area and have purchased 10 SFH. I'm not quite in the big leagues yet but trying to get there soon! have you gone to any real estate meetings? If not, download the "meetup" app and search for some. I go to them frequently and always learn something!

I use C&F Mortgage. if they aren't in your area try going to local smaller banks. I have found them to be much easier and flexible to work with.