All Forum Posts by: Jordan Feiner
Jordan Feiner has started 11 posts and replied 33 times.
Post: Second Mortgage on Investment Properties
- Posts 35
- Votes 7
Quote from @Emali Taylor:
@Jordan Feiner what Union/bank did you end up going with for your second mortgage? We are thinking of doing the same thing
Post: Looking for Realtor in the Portland area
- Posts 35
- Votes 7
thanks Caelan & Tyler. I reached out to him.
Post: Looking for Realtor in the Portland area
- Posts 35
- Votes 7
Hi,
I live in Los Angeles, but for various reasons I've decided on Maine to start investing. Looking for an experienced realtor familiar with the area and a good network. contractors, property management and a creative loan broker. Looking for SFH, but ideally small multi. Timeline for first purchase is end of the year.
I'll be in the area July thru beginning of August. DM me.
Post: Second Mortgage on Investment Properties
- Posts 35
- Votes 7
Quote from @Kevin Sobilo:
@Scott Mukensnabl, I like the fact that you are trying to think outside the box. However, I don't think this will work out for you.
I think the piece of info you are missing is that 2nd mortgages have HIGHER interest rates than first mortgages. So, you have mortgages at 4%, and maybe today you can do a cash out refi at 5.5%. So, you would rather keep your existing 4% mortgages and get second mortgages for the cash-out monies but that rate might be 8%!
Second mortgages generally have MUCH higher rates because if they ever have to foreclose the first mortgage gets paid first and there is often no money left to pay them off.
I would do cash-out refis and FAST and focus on FIXED rate loans as interest rates are expected to keep going up and may not be lower than they are today for a long while. Rates today are still below historical norms. So, get loans while the gettin is good!
I just did a fixed rate at union bank, 4.99% with autopay and 25k held in accounts. if you have the cash to park it's a good deal.
Post: Off-market 4-unit opportunity - can't decide how to proceed
- Posts 35
- Votes 7
Quote from @Alex Talcott:
I have a fund active in that region that could be interested in coming in on a piece.
You're welcome to message me to discuss.
hey Alex,
where's a good place to find rent prices in Maine? I tried the rent tool on BP, but it had no info for Maine. I've looked at Zillow, but finding lots of vacation homes, monthly vacation rentals.
thanks for taking the time.
Post: Direct mail examples for high end properties
- Posts 35
- Votes 7
Hi folks,
Anyone have a successful template they'd be willing to share that I could build off of?
My wife and I have been looking for a primary in Los Angeles for 2 years now with no luck. We were about to close on a dream house but at the last minute the owner decided to sell to a neighbors kid. Heartbreaking, we were literally discussing how much time we'd be willing to let them stay.
Anyway, rather than waiting, who knows how long for that unicorn to pop up again I've decided to go with personal letters to a few houses we've had out eye on.
Post: Fix & Flip Complete in Los Angeles' Silver Lake hillside
- Posts 35
- Votes 7
That’s a real transformation!
Kudos guys!
Post: Mills Act in Los Angeles?
- Posts 35
- Votes 7
Anyone have any experience with this? anyone gotten a house approved? Are there people out there you can hire to handle the process for you?
Post: First time home buyer in LA advice and recommendation for remodel
- Posts 35
- Votes 7
Hey folks, my wife and I are circling a historical home in LA (1930's) that needs to be updated.
has anyone on BP done this with a historical house?
Anyone have experience with the Mills Act?
Can you recommend a GC to do a walk through with me for an estimate?
Post: Los Angeles Duplex Owner Occupancy
- Posts 35
- Votes 7
hey Caroline, there's actually a free e-book to buying a duplex in the the guide section i think. you can totally take on a roommate, look up house hacking in the search and loads of info will come up. good luck.