All Forum Posts by: Erik Sherburne

Does anyone have a lender that does HELOCs on rental properties or cross collateralize loans on a portfolio?

Thanks,

Erik

Anyone else see this?

http://www.mortgagenewsdaily.com/channels/community/969950.aspx

It was sent to me by my broker.

Short version, Fannie Mae is reducing their 2nd home/rental property portfolio to 7% of the overall loans purchase which means higher rates for us.

@Dan Grider now we are thinking creatively!! Intriguing idea, couple it with a geocache adventure something. Thanks for the thought!!

Ha!  Well said @Mason Moreland always appreciate a good dad joke!  In hindsight I should've just posted "Hey, anyone ever rent to hunters before?".  I did not foresee getting in to a debate about ecology/science/politics/effective use of the English language - I actually didn't intend or expect a debate or discussion at all really?!?  Oh well :)

To be clear, I'm not doing this as an investment.  I will buy the land to protect it, plant some trees on it, potentially enroll in a state program (there are some in MN where you essentially leave farm land alone and restore it back to wetlands/forests/ natural habitat, etc), maaaaybe camp/small trailer/retire there?!?   Am I going to make a significant impact on changing the world, no.   Am I hoping to make the world a little bit better?  I fail to see how planting trees where there was once trees won't do that.

I will DM you as I'm curious your take on what might make the most sense (read: have the greatest impact I can make - however small).

Thanks for your perspective.

@Tim Swierczek thanks for your insight and feedback. I’m not pretending that I will change the world or solve the issue myself and I am donating to other organization that are working toward that. I have talked with others who have done something similar (though again not at scale) and I have done some research and I like to be hands on as well as knowing that owning the land will also protect it and I’m doing my part (however small) to help.

I’m mainly trying to reach out to others in this forum who maybe did something similar but found a way to offset some of the cost - renting to hunters, grants from the state for trees or reduced costs, reduced taxes, etc

Hey all-

I’m looking to purchase land in Minnesota for now primarily to plant a bunch of trees to offset my carbon footprint. But, as an investor, I also am open to renting it to hunters, or forest mgmt / replacement programs.

Long term I will continue to plant trees but also maybe one day build a cabin.

Any tips on land investments? Finding them? Renting them? Financing them?

Thanks in advance!!

I'm looking at a SFH portolio. The selling price of the portfolio is discounted based off the Zillow price. We all know there can be wild error bars on that price however there is some value in an algorithm pooling data from home sales. I've toured all the properties, took pics, made notes, the usual stuff and as I tried to come up with my own value I came up with a scale to consider improvements needed vs the current Zillow price.

You'll notice that I consider "Zillow value" to be a 5 (greater than average) as my assumption is that most properties that are for sale are also above average outliers (on either side) factor out in to the "noise".

Thoughts?

As always thanks everyone for the feedback!!

Anyone use any sort of electronic signature service that they like/worth the cost?