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All Forum Posts by: Kunal Doshi

Kunal Doshi has started 4 posts and replied 20 times.

Post: Hardwood vs Tile

Kunal DoshiPosted
  • East Brunswick, NJ
  • Posts 21
  • Votes 2

I'm in the process of purchasing a home that I will be renovating and then renting out. The home has hardwood floors downstairs and plywood upstairs. Typically in a rehab and sell situation I would refinish the floors downstairs and carpet over the plywood upstairs. Those of you who have renovated to rent, would you refinish the floors the downstairs or would you do long tiles that look like hardwood through the house to replicate the look but help with long term maintenance? 

Also, I typically place granite countertops in my rehabs and I know it will scratch over time; should I still do granite ($35/sqft installed) or place something that is more scratch resistant last longer?

Thanks!

Post: Looking to move from Rehab to Rentals

Kunal DoshiPosted
  • East Brunswick, NJ
  • Posts 21
  • Votes 2

So unless my spouse buys properties under her name, the most properties I can have financed are 10?

Post: Looking to move from Rehab to Rentals

Kunal DoshiPosted
  • East Brunswick, NJ
  • Posts 21
  • Votes 2
Originally posted by @Shaun Weekes:

Kunal,

You can personally have up to 10 financed homes based on Fannie Mae guidelines.  And if you want to get creative your wife can have 10 as well so you could have up to 20 if you really wanted to.

The key in my opinion is to get with a loan officer or broker that really knows what he/she is talking about.  Someone that knows the guidelines in and out so that you can benefit from that knowledge. 

-So just as a recap and individual person can have up to 10 mortgaged properties under their name. 

-Get in touch with a loan officer that is seasoned in Non Owner ( investment home ) purchases and refinances.

-If you're going hard money there is no limit as to how many homes you can have.  The 10 home rule is a fannie mae thing and freddie mac will only allow you to have 4 mortgaged properties

I hope this helps and good luck Sir.

 Thanks Shaun

Post: Looking to move from Rehab to Rentals

Kunal DoshiPosted
  • East Brunswick, NJ
  • Posts 21
  • Votes 2

So at the current moment, I only buy homes, renovate and sell them. I'm looking to continue to buy homes and renovate them but instead of selling them, rent them out. After speaking to one of the lenders I've worked with, he informed me that I won't be able to finance more than 5 properties that are rentals. I was wondering how I could go about having more than 5 properties that I purchase through Hard Money, renovate and then refinance them with 20-25% equity. Any help would be greatly appreciated!

Thanks!

Post: Trenton, NJ

Kunal DoshiPosted
  • East Brunswick, NJ
  • Posts 21
  • Votes 2

I get tons of leads in Trenton. These people want to sell their house for cash but I'm not in that area and not really looking for rentals right now. If you're interested in purchasing some of the leads or buying houses in Trenton, please email me: [email protected]

I would say in the last 6 months I've accumulated close to 100 leads in Trenton. 

Post: Baseboard Heat Covers

Kunal DoshiPosted
  • East Brunswick, NJ
  • Posts 21
  • Votes 2

Hi guys,

I'm dealing with an issue. Unfortunately my demo crew threw away all the baseboard heater covers. Anyone know a really cheap way to cover up the units. Just need to be white and look decent. Online I'm finding replacement covers at $100 / per 6' and I have like 140' that I need covered.

Any advice would be helpful! Thanks guys!

Post: SFH Rental Analysis (Spreadsheet)

Kunal DoshiPosted
  • East Brunswick, NJ
  • Posts 21
  • Votes 2

I'm not sure if I'm doing something wrong, but I'm unable to download this spreadsheet. Anyway I can get a copy of it @J Scott

Post: May 2, 2014 Northern NJ Meetup

Kunal DoshiPosted
  • East Brunswick, NJ
  • Posts 21
  • Votes 2

Hi @Darren Sager I'll be bring a friend / investor along with me as well.

Post: May 2, 2014 Northern NJ Meetup

Kunal DoshiPosted
  • East Brunswick, NJ
  • Posts 21
  • Votes 2

I'll be there. Thanks @Darren Sager

Post: New Member In Central New Jersey

Kunal DoshiPosted
  • East Brunswick, NJ
  • Posts 21
  • Votes 2

Hi Mike,

Welcome! Have you been building homes for some time now? I'm a Realtor in CNJ area and would love to talk to you if you had a few moments.

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