All Forum Posts by: Dave Jones

Thanks everyone, a few of these properties are at about an 8 cap as they stand and has about a 15% ROI. I am hoping that an 8 cap for Thompsonville is close as I obviously do not want to over pay and hope to refinance in a fee years when I rehab some units and bring some rents up. I am trying to begin with the end in mind and so I am thinking about how the bank will evaluate the property in a few years. Of course Thompsonville is just one area, I am exploring others that offer small apartment style buildings as well. I appreciate the advice!

I am looking at 6-10 unit buildings in the Thompsonville section of Enfield and want to determine the cap rate for the area to help determine the value of these properties.  I know it is a rough area which is why I want to be solid on my numbers before purchasing here.  I do not want to find out I overpaid and end up with the headaches too with none of the rewards.  Thanks!

Are there other apps available that offer the mailers like this one?  The monthly fee plus the cost of the mailings does seem to make it very pricey.  Wondering if anyone has shopped it around.  Thanks!

@Will Parks Thank you, I will definitely check them out. If anyone knows of any others just in case please let me know. Thanks!

Looking to free up some extra cash to purchase more properties, so I started working with a credit union who offers a 100% LTV HELOC on primary homes. After submitting the application, they said because I own 4 properties, they would only do 85% LTV. Can anyone give me the name of any banks/credit unions that offer 100% on a primary residence? Thanks in advance!

@Caroline Gerardo Yes, I understand I am looking to cash out after the rehab is completed. What does your LTV look like? Is this a HML or portfolio loan? Thanks!

@Caroline Gerardo this property is in CT. 780 credit, $230k ARV. Looking to cash out after buying and rehabbing cash. I always do full doc so that is no problem. Looking to take out 80% or more if possible. Thanks!

@Timothy Hero Thanks, I would love to hear more details and what company you work with. Thanks for the help,

@Caroline Gerardo Thanks for the reply! Do you have any particular companies you would suggest? Thanks!

With Covid I know things have gotten tighter, but I am wondering if there are any hidden credit unions or banks that have an 80% LTV cash out product? This is a single family rehab project. 70%-75% won't kill my numbers but if I can find an 80% product all the better. Thanks for any suggestions!

-Dave