All Forum Posts by: Roger Evans

Last week I made a list of unlisted 3-unit properties for sale in my area. Houses that have been owned for 10+ years and should have some equity, so there’s definitely a chance the current owner will want to sell. Friday I met with my realtor and I only gave her 25% of the list, I figured she would probably try to gain more business from the seller because they don’t have anyone representing them. Today my realtor told me she found a seller that’s already interested and she along with another realtor are going to meet with them on Monday. So I replied, am I going? She said it’ll just be them two so they can give the seller a market analysis . So basically I just did the job for my realtor and she could sell it to anyone. Should I get a new realtor or just do this on my own? I’ll also be selling my current house.

I purchased an owner occupied duplex via VA home loan this past October. My girlfriend is pregnant with our second daughter due in July. We would like to move back closer to the rest of our family before our daughter is born. I've made some upgrades to both units in our duplex, and i'm in the process of having a furnace installed so the second floor utilities are separated. Location is great and quiet and has easy access to highways, hospital, grocery store and gas stations all within 2-5 minutes driving. Now is the bank going to care that I want to sell this house and purchase another within 6-8 months? Just not sure when applying for another loan if this will be an issue for the bank.

@Miranda Moore Good Luck!

@Anthony Wick ya a lot of people say it’s good to build with local banks. The thing is 15% is great but 6.75% is high. I have a 3 unit that cash flows $800 monthly, I could sell it right now and profit just around 100k. If I do that I should be able to buy two 3-units with the money I have already.

@Anthony Wick is there a big prepayment penalty?

@Daniel Porter Congrats! Investment?

@Doran Summers think I could refinance to get a lower rate on this? I do have to go in and update the kitchen 5-10k upon purchase and fill the house with tenants

@Doran Summers it’s a 3 unit. Cash flow should be around $600-750 monthly. I plan to resell it in 3-5 and I should be able to profit $50k

@Dylan Mejo local mortgage broker once I get the bank info I can send it over

@Simcha Davidman it’s terms I’ve received with a local reputable mortgage broker