All Forum Posts by: Long Dinh
Long Dinh has started 4 posts and replied 14 times.
Quote from @Erik Estrada:
Quote from @Long Dinh:
Hello all,
I currently have 5 investment properties that I would like to obtain a portfolio for.
They are worth around 900k and mortgage is around 450k.
I'm currently looking for a private or commercial lender to pull cash out to buy more properties.
Thank you for the help.
Hey Long,
You can structure this on a portfolio loan. Have these properties been booked for the past 12 months? Are they all the same property type?
They are all single family homes.
There are 3 rented out as the entire property and 2 rented out per room on airbnb.
They have all been booked for the past 12 months.
Quote from @Haneefah Abdullah:
Quote from @Long Dinh:
Quote from @Haneefah Abdullah:
Quote from @Long Dinh:
Hello all,
I currently have 5 investment properties that I would like to obtain a portfolio for.
They are worth around 900k and mortgage is around 450k.
I'm currently looking for a private or commercial lender to pull cash out to buy more properties.
Thank you for the help.
They are worth 900k each or all together all five are worth 900k
They are all together about 900k
They are all STR.
Fully occupied.
I'm looking to cash out all the equity into a jumbo loan of sorts.
Quote from @Haneefah Abdullah:
Quote from @Long Dinh:
Hello all,
I currently have 5 investment properties that I would like to obtain a portfolio for.
They are worth around 900k and mortgage is around 450k.
I'm currently looking for a private or commercial lender to pull cash out to buy more properties.
Thank you for the help.
They are worth 900k each or all together all five are worth 900k
They are all together about 900k
Hello all,
I currently have 5 investment properties that I would like to obtain a portfolio for.
They are worth around 900k and mortgage is around 450k.
I'm currently looking for a private or commercial lender to pull cash out to buy more properties.
Thank you for the help.
Post: Credit Score or Loan
- Posts 14
- Votes 5
Quote from @Erik Estrada:
Quote from @Long Dinh:
Hello all,
I have 5 Long Term Rentals that I converted to STR this year.
I took out 40k from 2 CC to furnish the property and made some repairs.
This lower my credit from 740 to 600.
I would like to perform a Cash out refi to buy another property.
I was told to take out a personal loan to use on the CC to raise my credit score. Then pay off the loan with the Cash out refi.
Should I do this or just try to do a cash out refi?
Thank you for your answers. I'm looking to learn.
It would be better to try to pay those CC off. You might be able to do a hard money loan, if you really need the cash, but it would be an overall smarter move to boost your credit score and pay those off so you can qualify for better terms on your exit strategy.
I do own the property outright and just looking to capitalize on this market with a cash out refi.
I could probably pay off all the loans with a year or two from my cash flowing properties.
You're probably right about paying off the 20% interest vs getting an 8.5% interest on a 30 year fixed.
Thank you for your input.
Post: Credit Score or Loan
- Posts 14
- Votes 5
Thank you for all the reply.
I own these properties in my own name.
I am looking for a conventional 30 year fixed for cash out refi.
I'm leaning towards getting a personal loan out as well so it's not consider a hard pull on my credit before a refi.
Post: Credit Score or Loan
- Posts 14
- Votes 5
Hello all,
I have 5 Long Term Rentals that I converted to STR this year.
I took out 40k from 2 CC to furnish the property and made some repairs.
This lower my credit from 740 to 600.
I would like to perform a Cash out refi to buy another property.
I was told to take out a personal loan to use on the CC to raise my credit score. Then pay off the loan with the Cash out refi.
Should I do this or just try to do a cash out refi?
Thank you for your answers. I'm looking to learn.
Post: BRRRR with a 48-54 hour a week Full-Time Career
- Posts 14
- Votes 5
You are way ahead of everyone else by thinking about retirement at 25.
I'm a firefighter and planning on working for 20 years then retire. For me, real estate is a means to retire.
We all have 24 hours so don't waste them.
Be humble.
Pay people on time and what they are worth.
Post: Accountability Group in Houston, Tx
- Posts 14
- Votes 5
I would like to join.
I'm an investor in Houston with 5 rental properties. I would like to share knowledge.
I'm in buy and hold real estate for 2 years with 4 properties in my early 30s. I'm hoping to retire at 55 with my fire pension and 10 fully paid off properties.
Not sure if I want to get into multi-family yet.