All Forum Posts by: Steve LeBlanc

Hi Grant, thank you for the offer. Looking for AL 4-plex cash out refi. 

With all the underwriting guidelines changing due to COVID, where are you folks finding "decent" deals on cash out refinancing that's worth looking at?  I'm finding that either the rate is not attractive enough or the fees are insanely high.  What are you finding and willing to share? 

@Wade Kulesa

Completely untrue. I’ve been a 100% leveraged investor since 2007 and continue to grow. I do pay off mortgages along the way but I’ve always carried red on the balance sheets. It’s what I needed to do to make my strategy work and yes, I do still cash flow very well.

 This was a single family.  

Well, it was about $1300 in taxes/insurance costs and $4400 in loan costs.  Total costs were about 2% of the loan....which is pretty reasonable. I'm not seeing anything under 4.5% for non owner occupied. I challenge anyone to share those resources that are legitimate. 

@Joe S. Personal

@Bob Willis not closed yet, but disclosures show $2333 origination costs ($238 points, $1500 origination fee, $595 processing)

$725 appraisal, $9 flood cert, $66 tax service

$1125 for closing protection letter, endorsement fee, title insurance, settlement

$95 recording

$391 prepaids

$961 initial escrow

Total closing costs $5705

After 21 years serving in the USAF, I retired in 2019 at 40 years of age. I enjoyed the last year living the retired life and could have easily continued as I executed my plan for early retirement and financial independence quite well. My retirement plan included a successful military career resulting in a pension, stock portfolio, multi-million dollar real estate portfolio, and then an unexpected additional bonus of VA disability. Earlier this year I was approached by a large defense contractor and they made an attractive offer that caught my attention, so I accepted. I'm enjoying what I do and will retire again soon, just taking the opportunity to engage in an environment I appreciate and continuing to serve, just in a different capacity.

@Pierce Ranck I got there amort, thanks 😉

Been buying real estate for 13 years and just now looking at the portfolio option. They don’t advertise very well on their sites. At least not for the rate they are offering. Many say 25 to 30 yr amort though. I’ll call tomorrow, the question came to me after business hours this evening.

What are the current rates and terms for a portfolio loan currently?  Who is offering them as a national lender or can they only be found locally?

Way to go Nicholas, congrats. Numbers look great for a first deal.