All Forum Posts by: Rudy Manna

@Albert Bui  

Yes, its one of those hard cash lenders. Anything I should watch out for?

Any thoughts how much will the difference be between 80% LTV and 75% LTV.

Secondly any recommendation on type of banks that might do rate term refi without the 6 month seasoning period? Will that typical freddie loans, or should I need to go for portfolio lenders?

Curious about the trade-offs with renting to adult care homes.

- How are the rental rates? is it better than regular rentals?

- How is the maintenance costs? I will like to assume that with elderly  people living your maintenance costs will be somewhat higher.

Look forward to your perspective.

after care, adult care and such programs will be attractive tenants since they will be long term tenants, but then can I really plan for this? Can I buy a house that fits the need of a adult care house? Any experiences?

Sounds a good idea, but then is it big pool for such tenants, or is it one off that comes across occasionally?

I am buying a fixer with hard cash loan. HML is giving me 90% of purchase price and rehab cost as well. When I refinance with a bank in few month later will the bank lend me 80% of purchase price or it can be 80% of ARV (expect ARV to be 30% higher from purchase price). In other words will the bank refinance the entire HML in this scenario, or just a portion of buying price.

Thanks in advance.

 I work as Product Leader in Seattle. We can team up and build a web application with a suite of decision tools. The industry needs more than a rentometer and cash flow analysis tool in BP. IM me if interested?

Love your analysis @Kourosh Behnam  Sometime just feel Real estate so far lagging with Tech, professionalism ,  data driven decision making etc.. And all that leads to the perception of a un-cool and un-sexy industry. 

Just another burning example is the 50% rule. Such archaic, over-simplistic  and primitive. The rule was coined by people investing in the rural and mid-west where it cash flows like 2%. If you think you have to spend 50% in cities or coastal areas, you shouldn't be investing in real estate. 

I wish there was a tool which can look into age/condition of the house, locality, demographics etc. and predict all the cost components such as vacancy, maintenance with a high confidence. Really, when we can predict traffic, weather, health and provide users with a personalized experience starting from movie watching and online shopping, we shouldn't be depending on 50% rule. Such a shame!!!

Thanks all for the insights. So this is my understanding about the options with HML. Can you please confirm if this is correct.

1. I can do rate/term no-cash out refi as soon the property ready after the renno (~3 months). I don't have to wait at all. I should be able to refinance my entire HML loan since LTV with ARV should be less than 70%.

2. I can do cash out re-fi (most likely 70% LTV), to refi the HML. I will have to wait for 6 months to do the refi.

Let me know if I am getting this right. Thanks again.

I have a property on contract which fits the BRRRR criterion. Something like, Buying 120k, 25k renno, 180k ARV. Is it possible to do BRRRR with hard money? I was under the impression that bank are either 80% appraised value or buying price whichever is lower in the first year, hence brrrr isnt an option with hard money. I can cover 20-30% downpayment but dont have enough liquidity to buy all cash. Are there any other options? Please share your thoughts.

Well my work was done by wallpaper expert. I don't blame him though. 

In my case its not about how he put it, probably its more about all the layers from prior. 

Is crapping multiple layers put over last 30 years is feasible? Anybody have any experience?

I like the skim coat idea. Somebody also Suggested me to cover the whole room with baseboard. WhAt are your thoughts on trade off on cost vs aesthetics?