All Forum Posts by: Indra H.

Hello, are you selling this?

Hello community,

I am contemplating opening a property management company. Can anyone please recommend a class or so that can teach me the ins and out of PM. Although ive successfully managed my own properties for the last 15 years im afraid there are so many other things i dont know when it comes to sending reports to owners, etc to another owner. I continue to buy my own but would also like to manage for others. I thought of working for a property management company but i need flexibilty because of my kids. Rather do an 8am to 8pm with flexibility than a 9-5 fixed. My properties now are on auto pilot. I guess my fears are on what to charge, how to handle moneys etc, any suggestions would be appretiated.

Hello Tony,

Welcome to the BP community. I am an investor agent the Springfield, MA area. Real Estate is fascinating, keep working hard and those big deals will come soon enough! Congrats on your 6 doors.

Thank you all for your in put. 

@David M. my dti is too high for conventional due to all the mortgages, but still hold a 800+ credit score, back in March i was refinancing (asset based) to cash out some equity and a day before closing they stopped lending because of covid19, i tried another lender and couple days before closing changed all terms to ones i couldnt agree to. So yes, the risk is there especially not knowing how things will be in a year or so. Hopefully great for RE investors that are not under water now. Maybe the bit of cash i have now and thr cash flow from the other could help for a better deal down the road. Thank you all your opinion has helped me put things in perpective.

Thank you so much for all the input. These are all great points.I dont know where the misunderstanding, but this is a town house, not a condo. 

@Joseph Schommer that was my thought, pay as much as possible and in a year transfer to another card, i have several non used high lines of credit. Im a bit conservative hence the hesitation. 
@Account Closed thank you for taking the time to put this numbers together. 25% down is great if i could get a 30k mortgage, every where ive called is a no.

Thank you all great learning for me

Thank you Chris, great points to consider.

@Andrew Postell thank you, who knows right.

@Chris Seveney thank you for the advise Chris, i appreciate your knowledge, but i would like to know your thoughts of why not, that way i can learn something. May you please share your thoughts behind the advise. Thank you

Hello folks,

Im looking for suggestions, i am closing on a townhouse this week. Im paying for it with a credit card. 45k, valued around 65-70k. It is currently rented $850, but could be 950-1000.

Credit card interest rate is3.99% for 12 months, but im looking to refi way before that, the problem is that im self employed and my taxes dont look good at all. My credit is around 810 or so. Any suggestions for such a small loan?

https://www.biggerpockets.com/topics/830414

Hello folks,

Im looking for suggestions. I am closing on a town house that im purchasing with a credit card. Purchase price is 45k, is rented for $850 but could be 950 -1000. Now, the credit card im using is a personal cc, so im not sure how this will after my ability to refi. Conventional might not be an option. Although my credit is 810, im a business owner and my taxes dont look good at all. I have two other properties with 60k and 100k equity in them. I tried refi (conv) those few months ago and after spending time and money the loan didnt close because my dti was too high. The cc i used to purchase this property is 3.99% for 12 months, but i need to come up with a way to refi this thing way before the 12 months. Property current value is 65-70k. Any suggestions please? Thank you