All Forum Posts by: Jhanel Wilson

Uhhh we do the next best, errr I mean the better thing.

Refinance! It’s perfect time. Rock bottom rates, super high values. We can take out soooo much cash and have payments be LOWER in many cases.

And we keep the cash flowing property.

I honestly don’t understand why people sell.

The bank that all the investors use in Philadelphia is PFCU. Message me for contact person

Current terms 4% 20 year 80% LTV

I have only encountered a small inconvenience when trying to set up my automatic payments. Sometimes don’t know where to send the Money.

But most of my commercial mortgages are with local credit unions, they keep and service their own loans.

Yes I see a lot of new investors making that mistake. Part of that is due to the contractor telling them they need to. And since they don’t know any better, they fall for it.

They need to look until the find the right person to renovate it.

I think the main part of renovating is focusing on return on investment. Focusing on the kitchens bathrooms and curb appeal.  Paint works wonders. Dont gut what doesn't need gutting. 

Whats the question? To deal analysis I usually need to know purchase + rehab price, estimated after repair value, the terms of the final loan term loan, estimates of taxes and insurance, what is market rent.

Just seems like a waste of time and money. What is the return on investment?

What is the opportunity cost of wasting the time and money doing this, vs quickly getting this rented out and refinancing and buying something else that is already a duplex?

How did the roots get in? Is the a hole in the sewage line? I would replace the part of the pipe that has the hole. Sewage might start backing up.

Why not refinance?

I use different LLC because I don't want people all up in my business.

You can easily search one of my LLCs and see the properties in it.

I keep about 1-2 million worth of real estate in each one.

There are a few more small reasons. But just put it in the LLC. You don't want your personal name all over everything.