All Forum Posts by: William C.

You should talk to lender about all of this. Very standard stuff when buying a home, your going to need to talk to them eventually, why not start now?

What are using for "expenses"? Income minus mortgage payment does not equal cash flow. Expenses most people miss are Capex and Vacancy. Then throw in the cost to manage, which most will do themselves, but should also be counted, and your $400/month cash flow might be closer to $0. Its hard to say what your missing, without knowing what your actually counting.

Thanks. I was quoted by a company through BP at 5%. The property is in Glenside PA. It's not rural. Qualifying is not the issue. I'm looking to maximize the value through the income approach.

Property is worth about $450k, looking to pay off loan of $140k and pull another $160k in cash out.

Recently purchased and renovated a triplex and would like to refi to cash out what we spent on renovations and need a lender that can help. Preferably a Alt A loan, but also willing to go conforming as long as the appraisal comes in high enough. Using income approach will yield a much higher appraisal in the area the property is in so will probably have to go that route to recoup enough cash for the deal to make sense. Any suggestions for a lender out there?

Anyone attend one of these? I'm thinking about going to simply network with others that attend. Would never actually pay a dime for gooroo info. Anyone have any luck doing this?

Great! Let's start thinking about a place to meet and day/time. Anyone know if a conference room we could use? Any events out there have an office we can use? We could meet at mine in Montgomeryville if need be. I think Conshy/Plymouth meeting area would be convenient. Everyone chime in and let me know your thoughts. No need for us to pay to meet, right?

Awesome! Anyone else?

Great point David Hale . Marketing a rental is a matter of putting an ad on craigslist. I got 50 calls on my unit in 2 weeks, and we weren't even done the unit so I had pictures of only the rooms we had done. Pricing is everything. If your plan is to simply "market better" you may not see much of a difference than the current owner. You'll have to add value, and make sure the price is supported by the market to be sure you will find a good renter.

Can I ask why? We typically install over the stove microwaves in our flips and rentals we we completely rehab them. Is there a moisture issue?