All Forum Posts by: Ko Kashiwagi

Hi Cassidy,

HELOC on investment properties are rather rare but I have seen local banks typically like to stay below 70% CLTV. Might be worth a shot looking though - good luck!!

Hi Jacob,

If you have a deal that you can make more money (despite the higher cost) then it's worth it. Otherwise, you could wait on it until you find that homerun deal.

Hi Jesse,

Every investor is different but in my view only looking at deals that you can pull 100% out is difficult in this market and potential significantly delay (or even deter) from doing your first deal. I do many refinances for BRRRR investors day to day and I'd say majority of those refinances do not take out 100% of what they put in.

Good luck!!

Hi Glen,

If you have contingencies bugger in the original scope you could probably apply that. Most programs don't allow you to increase budget after the loan closed.

If you are able to covering it out of pocket is probably the best option. You could get a business credit card that won't report to your personal credit and get 0% APR for 12 months if you qualify which is one way to navigate liquidity.

Hi Mark,

I've seen great arbitrage taken advantage of by investors to get much better cashflow with commercial leases than residential and commercial tenants tend to have long leases with sometimes less hassle (NNN).

In my opinion financing the property is more difficult for mixes use especially if the loan amount is sub 500k-1M because there's limited options but if it's for example over 1M you could get really good rates if the NOI is there and bank financing if available.

Hi Rick,

I currently have an out of state deal managed by my Property Manager. Mine is a BRRRR and the PM is getting the lease agreement so it's a win-win. For a flip, maybe you can get the agent to do it so they can be the buyer's and listing to double dip? Creating win-win like this is my personal favorite.

I've also paid a realtor hourly to be a Project Manager once and just paid per visit/hour with a bonus for getting the project done on time.

I always try to have multiple layer of eyes for out of state deals - agents, Project Manager, Property Manager, contractors, subs, boots on the ground to ensure things get done quick

Dual agent meaning listing agent also becomes your buyers agent or becomes transaction coordinator to represent both sides.

If you are familiar with the market this is not recommended. I'd say work with word of mouth to find a good buyers agent, check their reviews, interview them and proceed if you like them. It's a seesaw because typically the more experienced the agent the more chance they require exclusivity agreement because their time is inherently more valuable.

Hi Chike,

Financing for 5+ units are more limited and typically even more so for first timers. If you care about rates & leverage, starting with 1-4 unit is probably much of less barrier. Unless you can obtain a true full-doc commercial mortgage (which typically requires 500k-1M+ loan amount), typically 1-4 units actually have better leverage & rates. Also deal flow is going to be bigger for 1-4 unit so I personally think that's an easier start for first timers.

Good luck!!

Hi Rodney,

More than half of the agents I've worked with haven't required them but perhaps NY is a little different. One way to navigate this is to just look for deals yourself and get the listing agent to be a dual agent on that transaction specifically. That way you can look on your own.

From the contracts I've been offered typically it gives you the right to cancel and fire them at any point if you are not happy as well. So you could technically just keep on moving on until you find the right one.

There are STR DSCR financing options that may be a good fit, which would be 30 year fixed financing. With 12+ month of operating history, you should be able to get the best STR programs out there with good FICO.