All Forum Posts by: Robin Simon

I'm thinking of using Kiavi to fund my next fix and flip but they get terrible reviews on BBB.  Does anybody have any experience working with them?  Good or bad?  Thanks!

Hard money won't take second position. You want to find a private investor and pay them a return 

Hi All-

I rehabbed and listed three properties for sale. They are rehabbed to a high standard and my asking price is somewhat lower inferior comps.

I have received offers where buyers are either asking for 3% CC concession or offers that are at least 5--7% below the asking price. My counteroffers for full price offer is met with silence. 

I am carrying a high debt burden due to some unseen repairs and I wonder if this is the new reality and whether I should accept a 20K haircut on each property before it gets any worse. On a positive note, there isn't much else for sale in these good locations. 

Thoughts?

My wife and I are looking to capitalize on the equity on our home and start getting into the STR world. We have recently gotten a HELOC and are looking to start making the steps to buy a rental property. Being completely honest we are new to this. We have been reading a lot of books and information on this and want to start out in the right foot. How would you all recommend finding the right resources to help set us out right? I.e. tax advisors, maybe lawyers, business consultants, etc? All the books say to find good people but don't give great suggestions to make sure we get someone who knows what they are doing and are right for the world we are trying to get into. I appreciate any help you can give. Thank you for your time.

Hi everyone, new member here and I'd like the opinion from the experts. 

Im currently looking to purchase rental property and Im using the BiggerPockets tools (Rental Property calculator and Rent Estimator) to understand if it makes sense or not. 

I've ran some simulations and the properties are showing negative cashflow (-1% -2%) for the first 3 years, but then after year 3, things start to go back up with positive cashflow.

I wonder if it make sense to take this risk, buy the home (with 20% down), maybe refinance later on (considering that the rates will go down) and eventually improve the cashflow?

Any strategy that you guys recommend in this case or better wait for the right opportunity?

Thanks

Hello!

I am under contract on a vacation property (10% down) & looking to lock in with a lender. The current lender we got rates from is telling me that they require a percent of the loan up front kind of like buy down points and that its required because the mortgage companies know that people will be refinancing soon. My loan cost illustration has it listed as "Loan Discount Fee". This is about 1.75% and I am still being quoted 8.1% rate since this is second home. I am wondering if this sounds accurate or if i should look at getting another lenders quote. I am under contract so I need to figure out asap.

Appreciate any advice!!

Hi everyone, my wife and I want to refinance/heloc our primary property and hold on to the funds to see if property prices/interest rates go down more. Is that a good idea? Or should we just buy now?