All Forum Posts by: Louie Masters

@Keao Tan

I wouldn’t be complaining about a 4.8% rate s I bought a single family home as a rental in September and I paid 4.25%. I’m looking at a duplex and got a 5.0% rate. Rates will do nothing but go up from here. Thanks Joe!

@Johnny L. First problem your on Colorado. I’d suggest building somewhere else. If that’s not an option be your own GC. However I think your still going to run I to issues getting the work done in a timely fashion.

@Alex Babayev GREAT JOB! Just one question. Who is your contractor because he’s totally underpaid. Roof, kitchen, bath, added a 3rd bedroom all for $40k? Unbelievable!!

@Michael Loza as long as you do your due diligence on the property I would definitely do whatever you need to do to buy your first unit. Chances are your immediate turn will be better. Long term 401k on compounded interest over 30 years will be a very wise investment so I would pay it back as soon as possible. Better deal, buy a duplex. Live in one side and rent out the other. In most cases they will pay your mortgage or close to it.

@Russell Payne

Honed dude just jump in. I’d prefer to say long term but if a fix and flip, brrr, wholesale is better than do it. I spent years just sitting and waiting. Finally I’d had enough and just did it. First property 20 years ago I bought a duplex. After three years I sold it and barely made a profit. Tax write offs are good either way. Just do it!

@Ryan Mahoney hey Ryan Hastings huh? Any 3b2b near the college for under 100k?

@Ric Mittleider that’s really low. I’m a strong believer in always bidding low regardless of list price. Some people get offended by low offers and I don’t understand that. It’s just business. With that said I would not do any deal with less than 10% cap.

@Isaac Johnson

It depends. If it’s a home conversation and it’s a 4-plex for example, you have the potential of 4 times the capacity in that home. If you have 2 people in each unit that’s 8 people in one home. That’s a lot of wear and tear on the property. They do cash flow in more cases a lot more than a single family. My advice if you go multi unit is to go traditional multi unit.

Good luck!

@Ryan Mahoney

Thanks for the advice Ryan. Yes I planned on refinancing in a year or two. I’m just having a difficult time finding investors who are willing to front the cash up front. Having to put 20% down on each property takes time. I am also using pinnacle bank. I have a relationship here locally. Have you used anybody else?

Does anyone have any banking contacts in Nebraska that are rental property friendly? Most bank I contacted for my last deal wanted 20%. I was itching so bad to buy my last property that I just went traditional. The deal was 20% down with a 5.1 ARM at 5.25%. Not the best deal but it's cash flowing $2.75 a month for a single family home. Any contact advice would be appreciated. FICO score is not a problem at over 800. I'm tired of putting all my cash as a down payment. Any suggestions?