All Forum Posts by: Tim Kaminski

@Tim Kaminski

It’s just a question of, will rates be lower than your current rate sometime in the next 5 years

@Nick Wehrley

Also wanting to know. If I plan to cash out refinance In the next 5 years, is it worth it to pay a larger down payment to get a lower rate?

@Benjamin Aaker That may be true but I’m sure there are other ways to make money outside of real estate with a large sum of money, until the market becomes more friendly to buyers again.

@Nate Sanow I don’t understand your first question.

That is one side of it but what if the market tanks next month? What if my tenants stop paying rent? What if my roof needs to be replaced or I have a plumbing disaster? There are a lot of unknowns but securing a large sum of money seems like the smarter move. Who know what the future holds

@Tom Fidrych. True but then I can just walk away. I don’t NEED to sell.

Market is hot, getting cash offers that are way over what my property is worth. 2.5x what I bought it at. It is becoming harder to ignore.

Would be about $200k profit from one property that I could use on 2-3 other properties. Maybe not right away with this market but it is an 100 yr old duplex and no one know when the market could turn/property issues could become ugly etc.

I know cycles happen and the property could achieve that worth EVENTUALLY, but how long would that take? 8-10 years? Or I realize the gains now. I am in the business to make money after all. Again, I don’t think the property would appraise at what these offers are so the “just refinance” argument doesn’t speak as loud to me.

What am I missing or should I take the money and reinvest on multiple others?

@Kristian Chirelli

Facing the same dilemma. What did you end up doing? Any issues or regrets?

 Is this a state by state thing or a lender by lender thing?  I would LOVE to find a lender who would let me buy 1-4 unit properties for 10% down.

@Scott M.that’s what I was afraid off. To be clear, the sidewalk is 1.5’ lower than the concrete yard. Wanted to make it clean and just line the edges with solar lights that stay on all night.

Hello,

I have a duplex with a concrete front yard with a chainlink fence that I recently removed due to being in bad shape. Metal posts are still up at this point.

Plan was to cut down posts/remove and put some type of solar lights along edge. Issue is, where fencing was, there is a 1.5’ drop to the sidewalk. Do I need to put fencing back up to avoid someone getting hurt or am I overthinking? I’m sure there are properties with similar layouts in hilly areas where fences aren’t up.

I would add picture for better idea but I’m on mobile and don’t see an option.

Thanks,

Tim