All Forum Posts by: Gustavo Delgado

If you are in SoCal and your property is in Houston, get a reputable PM. There is no reason for you to have to do this work. Hopefully they will willingly surrender the property so you don't have to go through the eviction process. Try to find out if there are other landlords where your property is and see if they have PM in place, that knows the area and if knowledgeable with the typical tenant that may live there.

since you are in texas, see where H.E.B is building its next store. That is a good guide as to future growth.

If they haven't paid your july rent, you should start the eviction process now. Hopefully you collected a good deposit and use those funds to get started. Get an attorney to help you.

Hello all

Does anyone have any experience with DSCR loans? What is an interest rate I can expect? I am in Houston, any lenders that do this I would like to chat and learn more.

I am going to sell one rental. I should net around $130k. I want to get into bigger multi-family ideally with a group of experience investors in this space. Where should I start?

I have a rental with a $76k mortgage balance at %4.5.  I also have an brokerage account with $72k that has been steadily growing. My question is: " Should I use the $72k and pull some money from another account to payoff the mortgage? "

That would be saving me around $275 a month on interest. In my market there are not a lot of other areas to invest those $72k but having a completely paid off property sounds nice.

Thoughts?

 That is actually the option I would like to explore more and do, thanks

 vacant as of 5/1

I own a property with roughly $140k in equity. I've owned it for 6 years and has been lease out the whole time. My last tenant move out 5/1 and I am undecided on what to do. The property is in good cosmetic shape and I don't need to do much to make it ready. Idea #1 was to sell it, pocket roughly $140k and look for other opportunities but I assume I will be on the hook for some taxes next year. I am interested in getting into small multi family and use portion of the $140k for down payment. 

Option 2 is to refi and use some of that money for new roof, water heater and maybe kitchen upgrades and put back on the market to lease for around $1700. 

My current mortgage is $467 with a 4.5% rate. I put away about $550 a month to cover ins and taxes. 

I've just started thinking of this and would like to hear your feedback. Let me know if you need other info for clarity.

Thanks BP community!