All Forum Posts by: Elvis Nasi

Is anyone using the Reventure app? Is the subscription worth it? Have you seen value?

Hello BP,

Between two properties I purchased 5 years ago, there is around $200k in equity. My rates are adjustable commercial setting to change mid 2024 then 2029 full refinance. Currently they sit at 4.5% and 4%. The ROE is sitting at around 11% on both properties and by mid 2024, I expect ROE to drop more (increasing rents again now in January). The question is, do I leave them alone as they are cash flowing very well or do I pull some money out (If I do that will mean I will be getting my initial 25% down payment plus some back)? If I pull the money out, I am looking at my monthly payments to increase by ~$1700$ (assuming a 6.5% rate in mid 2024). I can offset some of it if I buy $200k worth of CD's or Treasuries and monitor the market but still the cash out would decrease my cash flow by 700-800$. I am not relying on the cash flow to cover my expenses as I am working full time also. In terms of strategy and plan/goals, I do plan to grow my portfolio. Any insight or guidance is appreciated. Cheers

I am walking a 4 unit apartment building next week. I can qualify for a bank loan (local CU) with current offerings (15% down; 20y amortization; 6.5% interest). The other option is owner finance (owner is open to it).

Purchase price (what I am thinking based on area and other properties) = ~$335k

Monthly rents = 4150$ 

Taxes = $9570

Insurance = $1950

Water & Sewer = $925

Should I finance via bank. If owner finance is an option, what can be a good offer? Thank you.

For all my rentals that I am responsible for the utilities (especially gas), I am looking for a reasonably priced thermostat (heat only) that has an option to  cap the maximum temperature the tenant can set. They tend to abuse a lot in the winter and gas prices are up 40%+. There is some options here but the temperature does not seem to be adjustable (https://www.landlordthermostat...). I do not want to use the plastic boxes with keys as they are easy to break into. Thank you for any recommendations.  

Looking for a recommendation for the best value credit cards available (e.g home depot etc.) for real estate owners/landlords. Spending around ~12k$ a year in property maintenance, repairs, cleaning and supplies. Thank you. 

@David M. Hello David. Here is an example of my current problem. Let's say we own 1 rental with outstanding balance of 100k. Me and my brother are renting now and we are each looking to buy our own home. With the current setup (both names on deed and no LLC) the lender will apply the full 100k as a liability to me and the full 100k as a liability to my brother while only considering 50% of the rental income.

I was told that If we move the rental to an LLC, then the lender will only apply 50k as a liability to me since the LLC will be set up as a 50-50 partnership. Basically, my liability will be lower.

I hope this clarified the full and 50% numbers.

thanks for your help and input,

elvis

Hello. Me and my brother own 2 properties (both names on deed's). Even thought we own them 50/50, when we apply for a new loan, we are responsible for the whole mortgage balance. The rental income is counted in half but the mortgage balance shows in full for each of us. I was told that if I move these properties under an LLC (me and my brother would be partners 50-50), we can mitigate this issue. Basically, 50% of the mortgage balance will be applied and not the full amount.