All Forum Posts by: Fred Stevenson

What do you guys think of the idea of doing cash out refi's on some SFR's that have equity in order to raise cash for some of these opportunities coming. It scares the crap out of me to increase debt load during this time, but I also recognize that cash will be king over the next few months. Thoughts?

So I believe there are going to be a lot of opportunities in coming months to purchase assets at hugely discounted prices so cash will be king. So my question is this,  I have a number of rental houses that have significant equity. Right now my rental income pays for all my rental expenses including PI, taxes, maintenance, etc,  with money left over each month.  I've built up a decent cash reserve that could cover my expenses in the event that all tenants stopped paying for at least 8-10 mos.

I've heard some suggestions that it may be a good idea to do a cash out refi on some of these homes that have equity to have cash on hand in the event that some of these future opportunities crystallize (discounted homes, stocks, even opportunties in the beaten down oil industry).  The potential problem with this idea is that I would be increasing my debt (at very low rates of course). The rental income will still cover the additional debt payments, but, what happens if tenants start to disappear due to this poor economy? Then I wouldn't have the monthly income from rents to cover my new debt. Any thoughts? Did anyone do anything like this in 2009. 

My current PM just sent me a letter looking to raise all of his fees. So therefore, I'm in the market to land a new property manager for my SFR in Conroe. I had received a letter in the past from. PM saying that he will charge a flat monthly fee regardless of the rent amount, and it seemed like a very good deal. Of course, I can't find the letter any more. Does anyone know of a PM in Conroe, TX that operates under this model that has proven themselves over time. Also, does anyone use Real Property Management in Conroe? Any thoughts. I use them in Baton Rouge, and couldn't be happier. Lastly, if anyone else has any other recommendations, I would love to hear them. Thanks.

Has anyone had success with transitioning their properties away from ABC capital to another property management company. If so can you please offer some recommend. Thanks. 

@sarah Lam  Just curious did you ever have your situation resolved since the last post? 

@Michael Lewis I did read the reviews.  I take it that you are also endorsing this practice. Thanks. 

@Dan Krupa I looked on google reviews and they are pretty bad, 2.2 out of 5  stars.  I just want to clarify that this hasn't been your experience, obviously. 

@Dan Krupa Thanks so much for your help and advice. 

Can anyone recommend a lawyer who represents buyers who may have been defrauded due to the failure of seller to disclose known problems with a property prior to purchase. Thanks. 

@AI D.  I just PM'd you