All Forum Posts by: Shaun Robinson

I’m refinancing a free and clear newly rehabbed single family. I’m taking the capital and reinventing it in a duplex next week, which will in turn be free and clear. I don’t have a primary. I want to house hack another multi family after the purchase next week! Im refinancing the first property in my business’s name along with the new acquisition. Am I going at this the right way. I fairly new at this, but my goal is to build a portfolio of multi family properties. Any tips??? Thank you!

@Joshua Janus I based that rent on a neighboring section 8 voucher.

@Joshua Janus I agree! But yea the 4 unit is in a slightly better location. I'd say a solid C. I tend to arbitrarily assign these letter grades my self based on my knowledge of my local market. Is there a more legit way to ascertain these designations?

@Hunter Vigneault I was considering all of the fees associated with the sale. I appreciate the feedback! I never thought about the number of occupants in relation to the wear and tear. I alway thought more about the age of the children, but more people is more people. You're spot on with that observation. Something to consider. Thanks! I'm fairly new so all of the nuances are crucial!

@Timothy Hero Yea you're right! 75% is standard.

@Brandon Rush Thanks for your feedback! I actually am considering just that. Pull my money out of the sf and house hacking the 4 unit. I am however unsure as to which is the best loan product to use for the house hack. The FHA comes with PMI and higher interest if I'm not mistaken. What are your thoughts?

I'll get straight to it. I am a new investor with only three flips under my belt. My current goal is to build a rental portfolio with cash flowing and appreciating assets while flipping for additional capital. I prefer to hold multifamily, but it's I'll hold anything that makes sense. I currently control a property that I am wrapping up the rehab on, but I'm unsure if I should keep this property and pull out 70% of the equity or unload it and search for something better. I know I must consider the capital gains if I decide to sell. I've also been pre-approved for up to 400 which I'm using to search for a multifamily, a 4 unit specifically. Below is the break down of my situation.

SF home... 4b 4ba in D neighborhood. The ARV is 165k, but I'm all in at 120k. That's including a 20k note that's left on the property. I bought this property seller finance for 30K with 6k out of pocket. I likely over-rehabbed it with funds from a previous flip, but it's a really nice home on a quiet street (C-/D+). I could probably get 1250/mo rent or sell and walk way with about 133k that I'd still have to pay taxes on.

The deal I am interested in is a 4plex that is 75% occupied. Asking price is 225k. The vacant unit is move-in ready, but I'm sure the entire property could be updated. The current rent for each 2bd 1ba is 725. I'm willing to occupy and go FHA as well.

Based on what I've shared about my goals and my situation, does anyone have any suggestions? Thank you to anyone willing to take time to look at this with me.

@Katie Greenman Thank you for taking the time out to address my questions. Great insight! I’ve recently enrolled with Real Estate Express to pursue my license. Thanks again!!

@Marcus Auerbach Thanks ! That was great insight!

@Michael Higgins Thank you! I just followed you! I’m definitely interested.