All Forum Posts by: Kelvin Schaeffer

Question how much time and money does it take to split a parcel of land

I want to take advantage of low interest rates , and get cash to purchase my next property all while eliminating mortgage insurance. You see I just have 20% in equity in my 4plex which Is a FHA by refinancing on LTV I get lower interest rates and eliminate mortgage insurance which should add up to 500 a month in cashflow.

Hi follow BP members quick question . I what to refinance and get a HELOC is there a benefit to the particular order I apply this should I refinance first or apply for the HELOC.

• Exactly what I'm worried about giving to much of a lowball offer that I might lose the deal . The numbers show that a purchase for 350,000 would net me a about $120 per unit .But with rehabbing costing around 6 to 7 thousand per unit ,and a 203k my purchase price needs to be around 320 -325.        Thanks Elizabeth Colegrove I've read several of your Blogs and replys to other BP members it's nice to get your input.

I ran the numbers like you said Kyle using several different scenarios, like 3% Fannie Mae and 5% 203K loan. Using conservative numbers to get the cashflow i wanted. Now I have a definite idea of what my maximum offer  should be and also my starting offer. Thanks Kyle for the input it really helped me out .

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Redfin, Realtor, Trulia, and Themlsonline have some multi family listing

Looking to put a offer in on a Fannie Mae / REO property.This 4plex has one accoupied unit,is in need of some cosmetics repair possibly more, asking price 379,000 would like to get it at 70% of asking price any suggestions on what should my first offer be.

Happy Birthday Josh!!! Remember it not about how old you are but how old you look.Hope you enjoyed your day.

Thanks for the feed back I was under the assumption you could only acquire one.