All Forum Posts by: Wells Lange

@Ramona Huot

I’ve always heard that Toto’s were among the best toilets in the world

@Ryan Hazelwood

29yrs old, 30 units, multifamily

If the ARV is $287k and it needs $50k, there is no money to be made at $210k PP

I’ll PM you

In my opinion, 30 year always makes sense for investment properties. You can always pay principal down, but on a 15 you can’t reduce your payment if you need to. Take the higher cash flow and let it accumulate for another property rather than build dead equity

Educate yourself and learn enough about it so that you can combat those thoughts of making a mistake with confidence in what you’re doing through knowledge of the subject

Hey man, what’d you end up doing??

You could leverage or refinance the property and reduce your cash in the deal or raise rents. Ideally, fix it up and get higher rents then refinance to get your cash out. Play with the numbers at different finance levels. Leverage is a risk-reward type of relationship. The more leverage, the higher the risk, and the higher the return. Lower leverage, lower risk, lower return.

Attracting students huh? How bout a free case of ramen noodles every time their rent is paid on time (ha ha)

My first one a few years back was 5.125%, and I made a killing on the deal. If the numbers still work to point where it’s still a good deal, then write it off as the cost of doin business.