All Forum Posts by: Josh Nicolson

Hi Dan,

I would echo the same great advice that's been given, so i'll just add my 2 cents.

I have been using a HELOC because I've been pulling my cash out to buy with cash. Then after I refinance my purchase I pay back my HELOC. This saves me the continuous monthly payments, until I find my next deal. Once I have exhausted my HECOC, I will lock in the rate. I thought the best you could do was 80% but I'm contacting Zach Karp's buddy to go for 90%; thank you!

For investment property HELOC's I use PENFED, they can go up to 80% LTV but must have $25k minimum loan amount. Which sounds like won't be a problem for you. They have a higher interest rate of around 8%, which to me is perfectly fine.

As far as over leveraging, in my opinion I would leverage up to 100% if I could so long as my cash flow is solid.  I aim for the 2% rule and deal almost exclusively with low income multifamily, so my risk of getting upside down cash flow wise is low.  If my cash flow was more tight, I wouldn't feel as comfortable in a high leveraged situation.

You can do a cash out refi under six months, but you can only cash out up to the purchase price (70% ARV up to purchase price). After six months you can cash out above the purchase price.

I think it depends on your idea of landscaping.

I would lean towards what Michael Leung is talking about.  Get it clean, maybe a couple plants and add gravel, but don't go overboard.

You can get great deals on plants wholesale at desert trees nursery on the northwest side.  I think most people in Tucson use Pioneer landscaping materials for the gravel.

My last triplex I did I spent $200 on plants about $400 on gravel and $300 on labor.  I planted 6 trees and 15 bushes/succulents and spread the gravel (+$20 tip to the gravel dump truck driver to spread the rocks nice and good).

I have a jackhammer that I got off amazon for $150 that my guys use and the plants go in in no time (especialy when dealing with caliche).

It totally changes the curb appeal of the property without breaking the bank account.

I have never had first hand experience with curry, but cat piss, smokers, animal feces Etc I have. 

Use an ozone generator. This is the one I have 

http://www.amazon.com/gp/aw/d/B00JAP7388/ref=mp_s_...

After you do a general cleaning of the unit, turn the HVAC on with fan mode only (if you have that option).  Then turn it on and leave. Come back 24 hrs later. Open the doors, let fresh air get inside for a bit (I use a fan), before you go inside. 

This works for me. Maybe curry has some quality that makes these useless but I doubt it. 

Most title companies can give an "investor/bulk" discount if you ask for it.

Elanor Ortega at Title Security is very good (you can pm me for phone number).  She does all my closings (when the sellers let me).  I don't do wholesaling; but I do very esoteric owner finance offers and multiple deals at time.  She's always able to solve the hiccups without a problem and is always on the ball.

@Brien Wankel- I'm an investor in Tucson.  If you want to meet up and have a beer/lunch let me know. 

The Tucson people should get together and do a group email list.  There is a real estate club here in Tucson but it's more of a sales group, then a meet up and chat group.

Welcome Nick, this is the right place to learn all things real estate. 

Welcome Joel.  I'm in Oro Valley, let me know if you ever want to meet up for a beer and talk about Tucson real estate. 

Great, congrats!

I know this is an old post but I stved upon this. 

Most Savvy silent partners will want it set up as a partnership with you being the general partner and the investors as limited partners. This way if you are sued, you are liable and not them.  Also, for financing with with a recourse loan banks will make you set it up this way. 

I'm not a lawyer but I hope this helps.