All Forum Posts by: Nathan Williams

nothing wrong with having multiple banks.  My main bank is Alliant which does have physical branches but none near me.  They have one of the most competitive savings interest rates and even gives a decent interest rate on the checking account, no monthly fees and doesnt nickle and dime you like most banks do when it comes to various fees, and the debit card auto refunds ATM fees if you use a out of network ATM.  You can also create extra savings accounts instantly to separate funds.  

7-8% cash on cash returns is something you can get with passive investments.  I personally would not consider investing for a return like that unless its in a area where there's high potential for serious appreciation 

if you bought with cash you can cashout refi or heloc typically 75% of the equity out of your rental

also use extreme caution with someone approaching you with a "rent to buy" offer... could be a scam

I invest out of state, focusing on deals for properties in C class areas that are close to move in ready (no major rehab needed) and meet the 1% rule.  Many will say rehabbing off market properties is the way to go but I think this is a perfectly okay route for a new out of state investor to start off with.

Also connecting with a local real estate agent who is willing share their insight and even visit a prospective property is indispensable.

If you already agreed to the lower amount and closed on the sell its much more dicey now.  Perhaps you can send a complaint to the seller agent's firm/broker, maybe even the licensing board if you have concrete proof. Did you have your own agent in this?

It may be too late now if you already shot your credit but one thing you can do is open up more credit cards and keep rolling 0% balance transfer offers to various cards.  For example, if all the balance is on cards A, B, and C... balance transfer them to cards D,E, F.  Once the 0% promo is about to end, transfer them back to A, B, C again (if theres a BT offer available).

Ive bounced around as much as 35K credit card debt around from card to card for years now and I have the means to pay it off but the money is so cheap so Im just letting it roll.

but how do you do 10 fannie/freddie 3.5% loans?  Dont you have to use each one as your primary residence for atleast a year?

Im an out of state investor looking at a potential duplex. Everything looks great but Im curious how much will utilities typically run me since I will have to pay.  Each unit is 1 bed/1 bath and about 500 sqft with electric stoves.  Does anyone have some ball park estimates of how much electric/water/sewer/trash would run up per month?

thanks

I know PNC goes up to 55% DTI on some of their products, not sure if it applies to conventional mortgage

All my investments have been out of state and have zero regrets for that. I would love to invest in something that is local or atleast a few hours drive away but thats just not possible with the price points/ROI that I am after.