All Forum Posts by: TJ Moreno

@Jason Wray

That is what i am looking to do. Refi all 3 at the same time. In California. Looking to do in 45 to 60 days so that my current refis close on my primary and an investment sfr cashout

In California. Have 3 duplexes that i have remodeled and rented and looking to refi and cash out to reinvest? What are rates looking like. A+ Borrower. Looking for upto 75% LTV for the 3 duplexes.

@Noah Weitzman

Yes in California. Multi rates are crap. I am seeing and getting decent rates on SFR investment property though.

@David M.

Yes. Depreciation is a thing of beauty with a decent portfolio for the time being until I run through all my capitalized costs I have carried over.

@David M.

We show a loss each year so far and capitalize the costs we are not able to show a loss on due to my w2 income. All the other props in our portfolio are my sole and separate and on my credit report but my wife and I file our taxes jointly. Every lender I ran this scenario by says your wife does not have taxable income.

I am maxed out on my loans. My wife has her property she bought prior to our marriage and is her sole and separate property and only on her credit report. In terms of working, she manages our portfolio of properties and for this, she “draws”$4500/mo from our rental account to our personal account. The issue is that this is passive nontaxable income. She wants to refi and take advantage of the low rates and her credit score is 800+. it as an investment property but doesnt have per se qualified taxable income. Any solutions or lenders out there. Property is worth about $350k and she owes $136k on the 1st and owes $104k on a 2nd so plenty of equity.Current Rates are 4.5 and 5.85. Wanting rates around 3.85 and consolidate to 1 loan (i am getting that rate on an investment cashout refi) as i am a W2 employee

Anyone know what rate and term look like on these? From what I understand, based on if the property cashflows is major qualification with minimal documentation. Reason looking is I am maxed out on loans and looking for something in the 7-8% range for holds or flips.

Ditto to above. As an owner who does their own PM, pretty easy Compared to other parts of California. 

Typically the NW and SW of Bakersfield are strong bets. Prices are more expensive and rents are strong. There are pockets in the North and Northeast of Bakersfield that you can get tremendous value if you are looking for cash flow 

thanks for the info. Ended up using just 160 ft of the unit (was the original kitchen dining area of the unit which included a half bath and separate entrance) and was actually able to relocate kitchen dining area to living area and increasedmy rent to $750 for the unit. Have about 110 sq ft of storage and the rest a half bath and small office with wifi.  Minimal costs as all utilities were in the wall used