All Forum Posts by: David Sanford

Jarrod Burgess did that include adding any ductwork or anything else?

Awesome. Yes that would probably be a much better idea to replace the baseboard heat as well. $6k would most likely be well worth it for resale. Thanks for your input!

I have a small single-story 1000 square-foot house that does not have air conditioning. It has baseboard heat but it would need window units for air-conditioning. The crawlspace is very open and would be easy to add ductwork has anybody ever added air conditioning and can you tell me the expected cost?

So Venmo and cozy.co are both free from what I'm reading? For both the tenant and myself? These sound like the best options to me!

Does anyone out there know of a free or cheap online service that their tenants can pay rent and it deposits into your account? I don't want to have to drive to my rentals anymore and I don't want them having my home address to mail it to me. Or maybe should I set up a P.O.Box? Thanks in advance!

Thanks for your input. I thought 5% was pretty high for closing costs also but this is my first cashout so I really have no idea what normal closing costs are on a cashout. I have 2 other properties I can do cashouts on and get about $10k from each. But I feel like it's stupid to cashout 3 properties to get enough funds to buy just 1 more property.

Considering doing a cash out refinance on one of my properties. However I can't pull out very much. Well, at least not enough to purchase another house via BRRRR method. My new rate would be the same as the current rate so no advantage there. Numbers below. Advice? I have a bank that will do 75% LTV and closing costs around 5% of new loan. Appraised value: $100,000 Current loan payoff: $57,000 75% of appraised: $75,000 5% in closing: $4,000 (75,000-$57,000)-$4,000=. $14,000. $14,000 is about half of what I'll need for another house.

Oh okay. Thanks! I have a bank that does 75% for a cashout on investment. I was just seeing if maybe you guys were any higher. I completely read over where you said HELOCs in the original post and just assumed cash out for some reason. Sorry about that!

House hacking. Absolute best way to start out with $20k or less. That is unfortunately not what I did. I didn't discover this idea until I was married. Can't convince my wife to move once a year now haha. BUT I did start out with under $20k and in almost 2 years I have 4 houses with about $120k in equity in total.

Can you go to the closing attorney you went through? Get reimbursement from seller?