All Forum Posts by: Gintaras Kuzma

Congrats! I have often wondered how to make a log distance deal and maintaining a property. It sounds like you probably have some contacts in the area, right? I ask because my ideal living location (Colorado) is not my ideal investment location because of cost. I have often looked at the KC market, as I believe it is a growing/revitalizing city.

I'm thinking that's too big of a deal for me, I'm just popping in to say hi, as I am in Louisville, and spent a lot of time living near Munster, IN as well, 2 of your markets.

If I had 50 doors, I'd quit my day job for sure.

@John Warren I'd like the contact info too, I have been away from Chicago for 2 years an I'm ready to come back!

 I sure wish I had bought in that "bubble" of 2017, the market is crazy right now, rarely do houses and especially multi's, last more than 1 week. I came here at a great time, 2017 when Louisville was still "cheap". I'm currently living in my commercial/residential property, but I am also looking at, of all places, Chicago, for a multi-unit.

How about Louisville? I like the city, it's a smaller city with great neighborhoods, Old Louisville has several MFH,2-3 units, then there are the up and coming neighborhoods like Shelby Park. I'm currently working with a local realtor (as I am currently in Chicago) to send me listings and she scopes the property for me.

So here is my question back to all of you..   from what I am hearing, it is a great thing to have a property that is bringing in 500/month positive flow after all expenses..  if I refi'd into a new 15 year note, on the house, that is achievable, so why wouldn't I do that? The chances of them leaving a vacancy are extremely low, they have already expressed purchasing, and really do not plan on leaving. I really do appreciate everyone's advice here, and I am listening, I am just trying to make sure that I am understanding the advice to sell a property with very good, very long-term tenants.

Wow, thank you

@Clayton Mobley for that detailed reply. 

 OK, great, i really appreciate the input, would you'r thought on this change if I told you that the tenants just put their oldest in kindergarten and have no plans to vacate the home until he is done with school? In other words, they don't plan on leaving.

The thought was I would have rather had the tenants pay it off sooner, rather than get into another 15 year mortgage.

This is why I am here asking questions, I'm looking for advice on what you guys would do. It does seem like a no-brainer to refi it and get that flow. But do i really want to do that and sit on it out of state? Is there a hard rule that you might go by, say, "if I can have 500/month positive flow, then i keep it"?