All Forum Posts by: Haresh Patel

@James Wenzel I have been able to do a couple with Finance of America. 75% LTV. Took about 45 days.

@Jon Gorman Or you can sell and 1031 into a syndication as LP. Even as Class A (lowest risk) you can easily make 9% every year.

Thanks,

HP

@Chris Hill There are operators who will allow you to 1031 into their syndication if you bring above a threshold (e.g. $750k-$1M).

Reach out to @David Thompson. He works with a lot of operators and I have had good success working with David.

Hope that helps.

@Stephanie P. Thank you. Trying conventional. Will keep shopping. No reason to let that much equity just sit around.

@Nick Belsky thank you. Will PM you

Hello,

I am trying to cash out refinance a 3Br, 2 Ba SFR in DFW area. Loan amount $150k, trying to cash out another $100k. LTV will still be below 75%.

I am seeing rates at around 4%-4.25% with hight closing costs. Anyone else has had luck with getting a lower rate or this is the current rate?

Thanks,

HP

Hi,

I am looking for a reliable HVAC company that does not cost an arm and a leg in Denton County in DFW (Argyle, Flower Mound). I know a couple of good companies but their repair costs are very high.

Intent is to replace one 5 ton AC now as well as ongoing service repairs for other rental HVAC equipment.

Thanks,

H.P.

 Thanks Billie and Jeff.

Thanks @Steve Racicot. Good advice!

An off-market deal fell into my lap for a condo in DFW area. I know the seller and this is last of his rental properties. His ask is very reasonable and ~20% below market (basically wants his outstanding mortgage and closing costs etc). He has had a long term tenant (more than 8 years) and tenant wants to continue to live there. Numbers are good, 1.3% of price every month with Scope to increase to 1.6% based on market rates. Property is 10 years old and in decent B minus neighborhood. pretty safe area when you look at crime stats, but not great schools. It's more like multiple four-flexes. 4 two-storey condos on a slab with a common roof. Everything was going fine till the mortgage company raised a red flag. Delinquency rate for HOA is at 28%. it's a small community with less than 50 condos. I won't get a loan on it but seller willing to do a sellers note or financing if I am still interested. Would you buy given the HOA situation? HOA is professionally managed but seems like no incentive to pay since no real penalty on late payers (e.g. 10% every year). Worried about HOA going belly up in case of large repairs like foundation issues. Suggestions/advice?