All Forum Posts by: Jake S.

Jake S. has started 45 posts and replied 829 times.

With MOST lenders the answer is likely no. But another consideration, how much will you save per month and how much would the refi cost in fees? If it's $10K to refi and you'd save $2K/mo then how realistic is it that you sell within 5 months?

Thats whats also been eating at me. Good point!

0 Votes

New Orleans, Louisiana

Hey all!

I have a STR that I recently did the BRRRR method on. I started renting it out back in June, and the time to refi (6 months) is coming up. I recently listed this for sale, but am also interested in the mean time in Refinancing out of the hard money (which doesnt come due until April), simply to lessen my monthly overhead until it sells.

Given the current market, who knows when thatll be but given summer time is over, it may pick up.

Excluding the prepay penalties, etc. is it possible to refinance this while its also listed for sale?

0 Votes

New Orleans, Louisiana

How do you post this and never reply to any feedback? The post is nonsense

2 Votes

Quote from @Albert Hasson:

Quote from @Bruce Woodruff:

Quote from @Manco Snead:

True science is derived from our unbiased scientific, largely academic, institutions. These institutions are the ones that create models for weather, climate change etc., and are based on available factual evidence.

And therein lies the rub.....who picks the scientists that we are supposed to believe? Who chooses these academic institutions? Who creates the model, and is it based on an already preconceived (desired) outcome?

The recent past has shown us that Scientists and Doctors lie and are paid well to do so. We need look no further back than Covid or the latest Climate Warming/Cooling/Changing trend.

Nonsense.

Only in a mind brainwashed with conspiracy theories would anybody say that in general doctors and scientists lie and are paid to lie.

Fortunately it seems that the country is looking past the conspiracy theorists (COVID and election) and getting back on track.

Found the clown

1 Vote

Tampa, Florida

Quote from @Jeff Nash:

@Jake S. what is the expected net sales proceeds?

Jeff - Will be around $300k after commissions

0 Votes

Quote from @Dave Foster:

@Jake S., Another option would be to keep your 1031 but also use a different DST - a Delaware Statutory Trust. These are 1031 compliant, passive, and there are plenty of options if you're wanting to move into a passive role.

Dave - Shooting you a DM

1 Vote

I have a property id like to sell where the net proceeds post sale will be under $1m. Ideally Id like to 1031 into another suitable investment (fund) but they only work with Deferred Sales Trusts.

Would a DST be feasible/recommended in my situation? And are there any resources out there I could use?

1 Vote

Hi everyone! The last couple of days, the rehab estimator hasnt been working quite right. Its been giving me very low numbers (like $5k). Anyone else having this issue?

0 Votes

Quote from @Reid Chauvin:

Hi @Jake S. - I am familiar with Fannie's trust income guidelines and am licensed in AL (have assisted several BP members in that state). Feel free to reach out!

Just sent a DM

0 Votes

Mobile, Alabama

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All Forum Posts by: Jake S.

Jake S. has started 45 posts and replied 829 times.

Post: Is it possible to Refinance while a property is listed for sale?

Post: Is it possible to Refinance while a property is listed for sale?

Post: Can't Get Numbers to Work for AirBnb

Post: Tampa and Rising Sea Levels

Post: Deferred Sales Trust with net proceeds <$1m

Post: Deferred Sales Trust with net proceeds <$1m

Post: Deferred Sales Trust with net proceeds <$1m

Post: Rehab calculator not working

Post: Get ready to pay more for you mortgage

Post: Lender that works with Trust Income