All Forum Posts by: Vitaliy Zima

Hello,

This may be a silly question but how do you post a property to a regular qualified tenants for one price and then to section 8 tenants for another price (or am I going to get myself in trouble for doing that)?

Example: Property is on zillow and all normal sites for 1,500/mo but I know that section 8 rent for the same property goes for 1,900/mo... 

I know there's sites where you can post for section 8 specifically like affordablehousing.com...but if a person with a voucher sees my property on zillow for 1,500, I can't be asking them to pay 1,900, right?

Please advise.

Thanks,

Vitaliy

Hello,

I moved out of my house 5 years ago and have a big chunk of equity sitting in it. I don't want to refinance because cash flow is great on that home and I have the home locked at 4% interest rate with 20yrs left to pay if off. I was thinking of opening a heloc on that home but as far as I understand when opening a heloc my DTI will be reviewed by the lender --- I have an atrocius DTI so I was wondering if there are lenders that offer no doc helocs on investment properties or if there are other options I may not be thinking of?

Thanks,

Vitaliy

Hello,

I have a wholesaler who approached me on a house that is being seller financed and is need of cosmetic work. Seller is selling for 160k, wholesaler gets 2,500 for the deal. Seller is asking for 10k down. All payments will be applied to principal balance because it is 0% interest. On year 8 theres balloon payment of 44,400. 

The catch is, they have it priced at about 20-40k above comps. 

Total monthly cost for me would be (principal+taxes+insurance) about 1,150 and rent is roughly 1,500, meaning I would cash flow roughly $350 but with vacancy and repairs we can reduce that down to roughly $200-250 per month. The estimated cosmetic work needed will cost an additional 20k or so. 


I have never purchased a 0% interest deal before and I am trying to understand how to calculate whether this deal is worth it (I am a cash flow investor). I do like the idea of 0% interest and all of my payments go straight to principal and technically speaking I will be cash flowing at the same time. Please advise at what kind of deals you have been getting at 0% interest and what do you look for in deals like this?

Another thing to note - this is a tertiary market - population of about 65k - 1.5hrs away from memphis, TN. 

Any advise would be VERY much appreciated! 

Thanks!