All Forum Posts by: Taylor Chiu

 "Historic", as in population is declining? Or what do you mean by historic?

@Trent V.

Never been a big Dave Ramsey fan myself. He's great at helping people get out of debt, but beyond that I think he's wrong. If you're netting (after loan paydown) 9k/mo cashflow on those 30 properties, how is the income not enough to pay the loans? Assuming that they are all 30 yr fixed, the monthly loan amount will never change, while rents will likely rise to keep up with inflation over time. So that 9k net will grow into a greater margin.

@Brandon Dwight How much cashflow could you get from that duplex if you just bought it with 20% down?

@Micah Ng Seems like solid analysis to me. Only thing that might be off is the insurance estimate - $1500/yr seems high. Did you get an actual quote for that? I would guess insurance would come in at half of that. 

15-20% cash on cash return is pretty good as well.

@Aziz Wali Yes, I don't see any reason why you can't get a section 8 tenant in there. How much you can get from section 8 for the property each month?

@Brandon Dwight You may be a "newbie", but you have a ton of equity! How much does the duplex cost? 

Depending on the answer, it might be a better idea to get helocs on your current properties and use those to purchase the duplex in cash. Then stabilize, and eventually put financing on the duplex to pay off your duplexes. The best part is you can then take the helocs and start the process all over again. 

@Brandon Thomas

To answer your first question, investor loans are great because they don’t require you to owner occupy, and sometimes can be had for under 20% down. Conventional loans are better for lower interest rates, and possibly lower down (3.5% if you do fha).

Hey @Kaleb Henry, so you are right, you can actually get up to 10 conventional loans through Freddie / Fannie. After the first several, the qualification process can tighten up a bit. At some point you'll have to show 6 mo reserves for each property you own. 

And once you hit 10, then you'll have to find other ways to fund (payoff one mortgage to free it up, get a commercial loan, private money, etc...). 

@Wesley Hosny

Congrats on the deal! What do each of the units rent for? 

@Larry Turowski has great advice. My question is - are you certain those are the best loan terms you can get? Is this a residential loan?