All Forum Posts by: Jake Handler

Great question. I have been messing around with some no-doc HELOC scenarios with a lender. Also looking into DSCR cash out refi on my investment property. Tough pill to swallow because the rate I currently have vs what I would be refinancing into... so not sure it's the right move for me yet. Following this forum to see what other people with more experience on this suggest.

Your liquidity is a nice start, but also not a direct advantage while exploring the BRRRR strategy. When I've used hard money, I put down 20% of the purchase price. The way more challenging part is #1 finding the deal of course, #2 finding great contractors that would take on this type of project with payments to them working through installments, #3 finding great terms on your refi.

My advice would be to look aggressively for #2 and #3, so if you do come across the golden ticket of #1, you are ready to pounce.  Also my advice would be to not think it's a loss if you don't pull out 100% of your funds on the refi.  That is an extremely difficult accomplishment in the near-term.

Turn a profit how? Flipping?  Cash flow?  Any property can "cash flow" if you put down enough money.  I can also show you plenty of on-market properties that cash-flow by putting down as little as 15%.  

There's a reason I'm not buying them though... because if cash flow is the driving factor for me, Fanduel has some great parlay boosts :) I want wealth and putting down 50k to make $150/month doesn't excite me.  

My advice is to try to be more specific with your inquiry and your boy-box in general, to achieve the best results.  Credit to you for posting in the forums with a question that probably many people want to post but don't!

Morristown has fairly tight restrictions on short term rentals.  It may be difficult to find a <30 day stay for anything more than 1 bedroom (owner occupied has looser restrictions).  If you message me, I can reply with a facebook group that I'm in which would be worth a post to see if you can connect with a landlord through there.

I know a couple MTR hosts in Clifton and the surrounding areas.  Message me and I can link you together.

Looking to speak with someone who has personally been involved with a deal where the buyer assumed the loan.  If you were either the buyer, seller, lender, or realtor in a Loan Assumption transaction in New Jersey, I'd love to connect and ask you a few questions.  Thank you

I completely resonate with this and I think many other people do too.  Compliments on the mindset shift and posting on the forums.  

Why FHA? With the newer 5% down conventional rule, if you qualify, why not take advantage of that?

You have 400k cash, or pre-approved for 400k?  Big difference haha

Bian- I co-own a HOA management company that specifically works with smaller buildings. My business partner deals with that side of the business, so I can get you guys in touch. Please send me a DM and I'll connect you guys.