All Forum Posts by: Gagan M.

I called SBA today since I have not heard anything on the loan modification in a few months. They do not even have a loan officer assigned and could not give me any new info. Makes me wonder if they are actually processing anything at the moment.

@Joseph ODonovan I am not sure if you are aware but traders are smart and have started shorting using other put strategies which limits their losses. There was an article on it yesterday.

AFAIK, the short squeeze already happened last week for the short term. There is also lots of liquidity with AMC execs selling their shares. There could be another short squeeze in the future, but no one can predict when.

Btw, you should be in Clover Health today and not AMC 😀

A probable solution is to create an operating LLC. Personal property stays in yr name + LLC1 holds the real estate and LLC2 collects the rents on behalf of you and LLC1.

@Jay Hinrichs How is it possible to take the 500k tax free and then rent out the same property for a future 1031? Please educate me. To get the 500k, am I not selling off the property?

Considering the fact that you are approaching retirement, I would lean towards paying down the mortgages, so that you have free cash flow in the coming years. It’s primarily an emotional decision. Prices are likely to inflate over the next few years which means you can increase your net worth significantly if you leverage now and take on more risk. Ultimately, it’s a call you need to make on which option makes you sleep at night better. There is no wrong answer.

What is sweet spot for commercial mortgages? I am finding that loans of 1M+ qualify for agency rates and are the low rates of 2-3%. What about the under 1M loans?

I would like to devise my commercial strategy based on the best possible commercial loans.

@Edit B. Look up posts from Andrew Postell or contact him. I had the same idea a few months ago and I was not the first person to think about it 😀

@Jay Hinrichs WA has to make the money somewhere... still cheaper than paying state income tax for the average home owner. Jay is a special breed 😀

Maybe put the money back in S&P 500 in a couple of weeks/months. You may not be able to time a bottom, but with a proper time horizon you’ll get the super gains in a year or two.

@Jonathan Maldonado loan fee looks expensive by a 1000 (because of points) - did you compare with other lenders? Transfer taxes seems high but I am not familiar with Tampa mkt. prepaids are 2.3k and you should not count them as closing costs. They are funds you bring to the table to close but are used towards your mortgage payments.