All Forum Posts by: Ziad Hamati
Ziad Hamati has started 6 posts and replied 71 times.
Post: Which Banks are best for Real Estate Investors
- Lender
- Houston
- Posts 74
- Votes 29
Find a loan officer you can trust. I am one, and we work with several lenders, and they all offer different loan products. Some are very investor friendly.
Post: Downpayment required for overseas investors!
- Lender
- Houston
- Posts 74
- Votes 29
Justin,
Are you a US citizen or Green card holder?
If so, I work with a Lender that does up to 85% LTV.
Reach out to me and let's have a chat.
Post: How Many RE Investors are Engineers?
- Lender
- Houston
- Posts 74
- Votes 29
I work in the Oil and Gas industry. I work offshore on the oil rigs as an engineer. I was making good money, then the downturn hit snd they were laying people off left and right along with paycuts. I have not received an increase in salary in the last 7 years.
Clearly that made me find ways to make passive income to have more security and peace of mind. Real estate was the answer :)
Post: Fence Contractor Recommendations
- Lender
- Houston
- Posts 74
- Votes 29
There is a group for Houston contractors on Facebook. Join the group, post your picture and what you are asking for. You will be approached by several contractors. If you have the patience, speak to a few of them and try to get the best price :)
Post: Fence Contractor Recommendations
- Lender
- Houston
- Posts 74
- Votes 29
Quote from @Corey Yao:
Hi everyone! I was wondering if anyone had good recommendations for a fence contractor? A portion of the fence was knocked down and I am looking for a contractor to fix it. Thanks in advance!
Post: Investing with David Greene
- Lender
- Houston
- Posts 74
- Votes 29
Why not invest on your own? You can reap all the benefits :)
Post: Fully owned home - Cash out refinance or just cash flow?
- Lender
- Houston
- Posts 74
- Votes 29
Yes run your numbers as if it is a rental property you are purchasing. But try and call up many lenders and shop for the best rates.
rates are creeping up so it is OK if you cash flow is low.
If you are refinancing under your personal name, the appraised value would be based on comps. Speak to an agent and try to figure out what can you do to increase the value of your property (maybe add another bedroom)
Post: Fully owned home - Cash out refinance or just cash flow?
- Lender
- Houston
- Posts 74
- Votes 29
Depends where you are in life and what your goals are. If you have retired or retiring soon, cash flow is important.
If you want to grow your portfolio, pull money out and buy more properties.
Post: Best software's to use to keep track of rental portfolio
- Lender
- Houston
- Posts 74
- Votes 29
How many properties do you have?
You can try tenant cloud. Its free.
i also used excel for my first 3 properties at the beginning
Post: Duplex: refi or sell?
- Lender
- Houston
- Posts 74
- Votes 29
Quote from @Erin Schreiber:
I have to either refinance or sell a duplex in the next 6 months as part of divorce proceedings. Currently, it is rented under market value, grossing $2700/mo total , with a monthly mortgage payment of $1561, and me paying utilities around $500. I could raise the rent to probably $3100/mo total. I could pay about $6000 to have a second electric meter installed, so the tenants would be responsible for utilities.
I’d guess the property value right now is above $450,000, and I currently owe $150,000.
I’d hate having to pay capital gains on a sale, so I’m leaning toward just refinancing. Is there a specific tool I should use to make this analysis? Or a rule of thumb I should lean on? Or additional info I could provide here to get recommendations?
Sorry to hear that. I would definitely cash out refi and avoid selling. But this is just my personal opinion.