All Forum Posts by: Tony Velez

Well we are tbinking of refinancing. Our mortgage is 145k. If I'm correct I can get a refinance for 80% LTV. The appraisal would have to be 250k or more to get our down payment back. The plan is to take this down payment and use it for another property.

Hi,

We bought a triplex in March 2016. Appraised at $225,000 we bought it for $198,000  needed a roof, and updating. We replaced the roof down to the plywood. Second floor tenant moved out whcih gave us a chance to completely update the unit. New bathroom, new kitchen, refinish hardwood floors. Thrid floor we updated bathroom and replaced kitchen sink and counters. We painted front porch and steps. 

My question is this. Does this work add to the property value for a triplex? We had our realtor do comps and it seems the house didnt add any value by doing this? 

Thanks

Tony

Hello,

I'm in Connecticut. One of our tenants moved out sept 1. We renovated the apartment but haven't found a new tenanat yet. We've interviewed a million prospects. Is there a good realtor reconnection in new haven county?

Thanks 

Tony Velez

Hi,

One of our tenants moved  what color should we paint the apartment? Any thoughts will be appreciated  

Thanks 

Tony

Hi,

We bought a triplex in March with 25% down payment. since then we've added a brand new roof, redid first floor bathroom. Painted front porch and front door to add more curb appeal. 

Are they're any ways to do a cash out refinance?

Thanks

Tony V

Hi,

This is our first tenant moving. We have the apartment advertised. In the description it has our criteria of what we are expecting. Should we show the apartment first? Or have them fill out an application via transunion smart move. We have  been telling people to fill out application first before showing. Yet no one has filled out the application. Maybe because it cost $35 and they haven't seen the apartment? Not sure how to go about the process. Any advise would be great. 

Thanks. Tony

@Jered Sturm I put 640 minimum score on the ad. Maybe I should drop it to 600

Thanks for the advice. This is our first time finding a tenant. We're weeding out a lot of possible tenants with our requirements. 

Tony V

Hi,

Here is a copy of an email I received  from a possible tenant. @Brandon Turner am I being too strict?

Thanks for the advice @Elizabeth Grahsl  

It's funny because my mortgage broker who helped us buy this house. She said it's impossible to refinance a investment property. I thought that was not true.  We bank with Bank of America and Citizens bank. I'll give them a call this week. Our personal home is with Wells Fargo I think I'll call them as well. 

Thanks