All Forum Posts by: Michael Brant

Thank you Ruth! Thanks Tim!

Use the search function (i dont mean that in a snarky way). Here's a few links to get you started from recent articles under the "Education" section 
https://www.biggerpockets.com/...
https://www.biggerpockets.com/...
https://www.biggerpockets.com/...
https://www.biggerpockets.com/...

Here's a few podcasts that touch on foreclosures
https://www.biggerpockets.com/...

And a whole section of the forum dedicated to the subject
https://www.biggerpockets.com/...

For the Maryland experts, how do you feel about Glen Burnie? Would you consider this Class B or Class C? Seems like the price/rent numbers work here a little better than other areas... Schools are not great though - any insight? Pasadena also seems to have some decent ratio and slightly better schools.

Thanks for the great insight here so far!

 Thank you Martin!

Hi BP! I'm relatively new and did some searching but I didn't find any answers and was hoping someone could help me out (or point me in the right direction).

I have a 1 small bedroom in Hoboken NJ (across the river from NYC) that I just placed a tenant in. My wife and I bought this apartment to live in, but never planned to rent it. I am looking to refinance it from 4.375 and just received a great rate with minimal cost in terms of points/fees.

My question is.. I owe ~$285,000 on the unit, and the appraisal when we bought in 2017 was $391,600. My concern is appraisal *.75 LTV is worse than what we owe on it. (that it appraises for something less than $382,827.29 (285,000/ .75) If that makes sense.

Am I thinking about this correctly? What else should I be asking?

Edit: Also if it does appraise lower, do I have to go through with the refi? are there any adverse affects of this? The loan officer suggested asking my agent for comps and if the comps are good I "should be fine" but I want to make sure this is the case.

Thanks so much!

I'm new here so please anyone more knowledgeable correct me if wrong ... but if you have a service connected disability rating by the VA of 10% or more you qualify to have that fee waved.