All Forum Posts by: Michael Barbari

@Dane Fossee

Most banks do offer that out of a business account. I know Chase does but they require you to be a client for a min of 6 months to be approved for it. It only costs $25 a month. Well worth it. Research your local banks.

@John C S.

Have you gotten estimates on the cost on panels and install?

@Michael Stuck

Have you looked into getting a Heloc on your primary home or cashout refi? I would research both and do what works for your situation. Let your equity work for you.

@Joseph Sherer

It would be in that order.  Collecting rent for me is the easy one luckily since its the most important. Not sure on the % as I only have 1 duplex.

@Joseph Sherer

My top 3 would be finding/screening new tenants and showings. Those are the most time consuming for me.

@Arthur L. Timmins Jr.

Always remember that heloc rates follow prime and is not fixed which is currently at 3.25. 10 years ago when I started banking it was 8.25. Feds are already talking about raising rates and that will directly reflect mortgage and heloc rates. Lock in when you can. You will have 4% money for the next 30 years. By the way, helocs have been taking 4-6 weeks for the last 10 years and 3 different banks I have been with.

@Arthur L. Timmins Jr.

Given the mortgages rates are very low around 4%, I would cash out refi. I just did this myself 2 months ago and I'm now using it as a down payment for a new property. You won't have any out of pocket costs. It's taken out of the cash you're already getting at closing. Good luck!

@Dan Funk

It does depend on the lender. If you have 2 years of tax returns showing that income to wash out the mortgage, you should be fine. What are you looking for? Heloc? Refi?

@Igor S.

I can only tell you stories of my friends who went there. Students are not the greatest of tenants. Parties, complaints, destruction etc. Be prepared.

Welcome @Rafa Salazar

 Let me know if you need any help on the loan side of things. Good luck!!