All Forum Posts by: Zachary J Strang

@Kerry Baird, that's the route I keep leaning. I think I need to find the right lender. 

@Scott E. the cash flow isn't great. 

Rent Amount $1650. The rent needs to be raised to realign with the market. They originally signed a two-year lease, this will end in August. 

MTG $1225.19, including escrows

10% PM fee- $165

$259.81 before Repairs and Vacancy, Capex. 

@Jason Wray You don't actually have to refinance out of a VA loan to use it again. I actually have 2 VA loans currently. I think doing the cashout before I left the first property would have been a great idea.

I'm looking to acquire another rental and am unsure if I should use the equity from my first rental. 

The investment property details:

Investment

SFR

315k Value

198k Owed (62% LTV)

Currently on a VA loan at 2.875%.

Would you sell it? Invest the money into other projects? Would you do a Cashout refi, even though the rate will increase dramatically? Or do a HELOC? (I haven't found lenders doing these)

@Matt "Roar" Gardner @Charlie Cameron

@Charlie Cameron

@Charlie Cameron

I know this is an old form but welcome! A question to all the Waterford Investors, Who are you guys using for a property management company?

@Michael Driever What was the process of getting the HELOC like?

@Oke Tammik, Something to remember, most people have a decent amount of equity. If they are in forbearance most would be able to sell when the balance comes due. I think there will be more motivated sellers than foreclosures.

@James G.- "economic occupancy" Had to look that term up.  Thanks for sharing that, how did you come up with a 65% rule. Have you personally seen vacancy that high? 

@Osvaldo Benavides typically yes that is right if you are doing a conventional financing.