All Forum Posts by: Andy M.

Again I second Lee's opinion on joining the Utah apartment association. I used to use an 11 page lease, now I just use theirs.

What is the NOI and price on the 8 unit in west valley?

Dropbox has changed my life.

Depends on who the investor is.. If it is a Private lender or hard money lender you can probably get in front of someone to make the offer but if it is a big national lender then it could be pretty rough. Bigger lenders tend to work by their own book. Which would mean going the typical REO route. It doesn't make sense sometimes how banks operate but they dont care. My friend had a short sale offer on a property for 165k which was refused but they auctioned it with a starting bid of 153k, go figure.

I can 2nd Lee's opinion on Premier Title. Shane is a good guy.

Local coin shop is always the best deal. Cash and carry is a plus. I like the info at gold silver.com, not sure how their prices stack up to others online though.

Dave, love your question. I've had the same one for a number of years. IMO you are ultimately better off having more control/liquidity with the money. Paying down the mortgage doesn't give you liquidity. Paying down the first does make you a guaranteed return of the interest rate that you are currently paying, but like you said they are at all time lows. I would rather have access to the money to fund my flips, HML's, or use for down payment. Once you pay the money down on a long term mortgage you won't see that money again for a long time.

Access to quick money when you need it is WAY more valuable IMO.

I found a local credit union that will do a 65% equity line non owner occupied with no seasoning at prime plus 1.5% (so 4.75% currently).

Seems that there is a similar situation at most auctions. Lots of tough talk about bidding up the new guys. I don't know about anyone else but I always go to the auction with a "line in the sand" that I won't cross. Generally the bidding goes pretty far beyond it to. That said I only go to the auction if I have inside info on the property going to sale. Mostly just short sales that havent been accepted and go to sale.

I don't, unless I've been through it, feel very confident, and I think it will affect whether or not they accept it.

Geri, I appreciate your honesty.