All Forum Posts by: Peter Wachira
Peter Wachira has started 2 posts and replied 2 times.
Post: Massive 118% property value assessment increase
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I rent out a 2 unit property in baltimore county. I just got a notice from the MD department of assessments & taxation that the value of my property will increase from 120k to 261k , spread out over 3 years equally.
This is a ridiculous increase of 118%. I have read some articles that say assessments are up about 20 % . I plan to appeal this but I'd like to hear if this has happned to anyone else.
Post: Why are mortgage note rates higher than regular mortgage rates?
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Can someone explain to me how mortgage notes end up with interest rates of over 10%.
Is this simply the interest that the home occupier is paying? Or some fraction of it? Either way it seems a bit higher than I would expect. And whats in it for the note seller at these interest rates? Are they just wholesaling and pocketing the difference, or can they not find cheaper financing for other projects they have? I dont get the math around notes - can someone offer some basics?