All Forum Posts by: Nik Krohn

Bought my first house at 23 as a house hack and broke even and was hooked from the start in 2010!!

There are a lot of great flipping opportunities in the Ogden area. I strictly stick with Utah county as I know it well. I agree with Cody that northern Utah county is a money maker. We have several rentals there. The cash flow is about $750/850/mo per door for me (self managed). As good as the cash flow is, the appriciation is better :)

That's great to hear. I'll be sure to try that out. it's nice knowing that other investors have had success there

Thank you for the response. That makes sense. I'll be sure to ask some of these questions to the national lender we are using. 

Is it possible to get in on a down payment of 25% ever? I'm also shopping around. I'm looking at a 1.6M multifamily in Portland. They said 30% at 3.5% interest on a 10 yr term. Seemed pretty solid but if I can get in at 25% then that would save $80k in DP

Hey guys. Would love to have you rate the potential commercial property I'm looking at getting under contract tomorrow. Here are the details

Purchase price 1.6M, 30% down, 3.5% interest rate

NOI is $101,000

The rents care $500 under market rent. There are nine units. I'm hoping to raise rents within the next six months. That will be an additional $3,500 per month.

What do you think of this deal?

My next question is how soon can I refinance the property after I've raised rents to get cash out?

Thanks in advance

I can't believe all the joker's on here. If you feel like you can better serve by not going to college then do it!! I could not have retired by 30 if I went to college and had been brainwashed. Work and then do some more work!

@Alan Walker They said that they could do it on the investment properties. 80% LTV on them and they could do it on multiple properties. 2 of mine have the MACU 90% program so I wont be able to do it for those properties but I do have one that I paid 20% down that I should be able to get a HELOC on

Thanks man! Thats awesome. Ill give them a try!

Hey guys! I am curious to see if there are any creative ways to to get a HELOC on an investment property. I have 4 properties in Saratoga Springs and I went to MACU & UCCU (credit unions) and they said that they do not do a HELOC on investment properties.

Have you had any success with this? Or is it even possible?