All Forum Posts by: Soup Nikk

I’ve been invested in the Ashcroft syndication fund since 2021. The GPs recently paused the class B distributions on account of high debt service fees and obligation.

They had purchased rate caps and that helped pay for some of the fees. However the main reason for pausing was to raise cash in order to buy new rate caps (at much higher rates than 2021).

Has anyone seen similar issues on their syndication deals (from before feds increased rateS) and is this a red flag or a one off scenario given the unprecedented rate hikes.

Otherwise they’ve been really good and communicating really well and with full transparency. I am also considering investing in their new fund this year, since as operators they are reputed and have a great track record and also can get some great deals in their pipeline.

Would love to hear feedback from other investors.

@Steve S. Hi steve, I’m a passive investor and love investing through REITs and syndications. Could you DM me more info on storage funds and other triple net lease funds you are focusing on. Have to collaborate and discuss. Thanks.

@Brad Milligan look into Fundrise. They have income funds that return usually 7-11% depending on market conditions. Due diligence is required. But they have growth funds and income funds.

@Vessi Kapoulian beginner here. Would you mind elaborate more on what ATM funds are? Feel free to DM me if you prefer. Thanks.

@Ben Guttman can you DM me Jamaal's email. Thanks!

@Anna Swartz-Lopez Thank you for your advice and guidance. I might get 1% difference with less than 1 points I feel ... rates have dropped quite a bit.

Re: finding the next property before cashing out ... why is that necessary? Cashing out takes 3-4 weeks and coordinating the closing of rental and bringing cash out money to closing will be tough. Is there an IRS rule involved?

Rental comps for some of the homes I have seen indicate that rentals are still going off the market pretty soon. I was bit worried about investing in pandemic ... however I am not sure how long I should wait .. this could dragged into next year as well.

@Bryan Noth Thanks! you can send the contacts in a private message or email me as well. I would appreciate it ... as I am thinking of talking to some lenders/brokers next week. 

Hello,

This might be a newbie question but here's my current situation. 

I am planning to refinance my rental property (due to low interest rate environment). I bought the property in 2019 and got a 4.125% rate. I noticed that rates have dropped a good 0.8-1%. So the options I am evaluating are

1: Should I spend closing costs again to go from let's say 4.125% to 3.25% (and save $100-$120 / month)?

2: Should I do a cash out refi and use the money to buy another property (original price was 250k with 25% down, comparables show at 270k) So even with a 80% LTV I could cash out ~30k

3: OR Should I just do a regular refinance, reduce my monthly payments and keep it simple.

Any thoughts would be appreciated as I am wondering which path to choose.

Regards,

Soup Nikk

Hello,

I am looking to refinance my rental property and wanted to see if folks could share some broker/lender contacts in Texas.

My current rate is 4.125% and I noticed that rental property rates have dropped a full 1% or at least 0.8%.

Regards,

Soup Nikk 

Thanks for a prompt response @Jose Batista Abikarram & @T Brian Nauheim. Appreciate your feedback.

Good idea, I will also look to my current home insurance provider for a competitive quote.

The medical payments per person seems awfully low. Do you guys think I should bump it up?