All Forum Posts by: Terry Harris

I would like to join as well.

Hey Guys,

I'm a new rental property investor from the east coast. I just fully rehabbed my first rental property and currently have a tenant living in it. I spend summers in LA and see a great opportunity for STR in the Palm Springs area. I know it's tough to get short term rental permits in some cities but heard it is attainable in the Palm dessert, La Quinta, Indio and much more cities. Would love to connect with you guys and learn as much as I can about this market. Feel free to connect with me on here.

Thank you.

I have been looking pretty hard in the Palm Springs area around Indio, Cathedral City, and Palm Dessert area for short term rental properties. Would love to connect with someone in these markets. Have they been beneficial for you? Do the properties stay pretty active for you all year around? Was it tough to get a short term rental permit?

I’m really interested in investing in this area and would love to attain some more knowledge in this market. Thank you.

I've been recently debating what to do as I finish up the renovations of my home. I recently bought my primary home (which will be a house hacking rental property) for $175,000. My ARV for this home should range from $245,000 - $260,000. Whether I do a cash out refinance or a HELOC, I do plan on putting the money into a secondary investment property. My question is what would I be better off obtaining, a HELOC or CASH OUT REFI. I have some time before I get into this so would just like to hear you guys thoughts and/or considerations. Thank you.

When I get to the Refinance part of my BRRRR method, I reading that most banks use 75% LTV after their appraisal.

My question is do all banks go by the 75% LTV or do some banks give a new loan for a higher LTV %?

How do you think mortgage rates will turn out after this Corona Virus epidemic finishes off. Are we likely to see a major rise in rates? Or do you think rates will slowly decrease like they were before this crisis began?

Rates have been going crazy lately with the market. I am currently under contract and looking to close on a property April 9th. I have a rate of 3.675 for a conventional loan but was looking for it to go down some more before I lock in. Should I lock in on my rate for 3.675 or wait it out this week?

Would you use the 70% rule as a guideline for a state like Chicago (downtown) A area. Or would the percentage be a bit higher.

@Monica Jorge

Thank you! Let’s connect.

@Terry Harris

Home in need of advanced cosmetic work