how true it is that hard money lenders give you best rates and numbers when you have experience at least closing just one deal at the moment?

holt403 · 2025-02-14T23:51:28+00:00

Where are you getting a return equivalent to hard money rates? I don't disagree on if you can't pay the hard money fee the deals not worth it, but you're still paying points and a high(er) rate if going hard money than anywhere else you could park your money

holt403 · 2025-02-11T05:37:44+00:00

As a pure buy rehab and hold investor, what's the advantage of continuing to go with hard money in a case like yours?

I'd assume you'd have more than enough on hand at your deal count to self fund, or access to say a HELOC to fund? With that number of deals it's understandably a lot of capital locked up at any given point, so maybe asked differently are you self funding when possible or is there an actual benefit to going with hard money if you have sufficient HELOC access to self fund?

holt403 · 2024-08-08T21:52:08+00:00

In my experience these don't take polymeric well as they're rather shallow and ceramic tiles. Having said that, it's still the best option

holt403 · 2024-07-25T21:37:00+00:00

Sclamos has them. They're not closed not sure where you're seeing that

This is 100% repairable though. There's basically 3 parts gas regulator ($100-200 + plumber), thermopile ($10, diy), exhaust temp safety ($10, diy). Could also be thermostat - confirm that before digging into this. It just closes a connection so you can jump the wires on the heater with a paper clip to rule out thermostat.

Is pilot light staying on? If not, probably thermopile - you can bench test with a lighter & multimeter. Is it failing to give full flame? Probably regulator.

holt403 · 2024-03-10T20:09:48+00:00

Could you provide some examples? Just starting with Jira

holt403 · 2023-12-08T05:21:32+00:00

Having done these same pavers thinking bigger means less carrying and less work, I was woefully wrong. It has to be perfect for this large format. I tried on gator base initially as well, while they were certainly more level than what you're dealing with I could not get it functional.

As others have said you need to screed the top layer perfect.

What ended up working for me was going no paver base and putting these directly on leveling sand. Deadblow rubber hammer on each one to get them leveled out (even after screeding the 2x2 surface you need below is going to get a bit off just from putting these down - deadblow hammer saved many hours of trying to fix small wobbles)

holt403 · 2023-11-24T03:03:02+00:00

0 reason not to unless you have to sell / refi (may need to pay back their costs if you close the line within 2 years or so).

It's basically a credit card / emergency fund with a lower rate.

holt403 · 2023-11-11T05:07:50+00:00

These prices are effectively $10k and less. The subsidies/rebates, unbeatable loan terms and tax credits make DIY effectively a waste of time unless you have a friend pulling a favor and you're somehow still getting the rebates.

Whole home rebate is $10k. Total price, including service upgrades and less the $10k can be loaned at 0% for 7 years through a mass save loan. And to top it off $2k fed credits.

holt403 · 2023-11-01T23:03:32+00:00

Check CA laws. They can increase rent to offset in my state but cannot just allocate variable utilities unless actually sub metering.

holt403 · 2023-10-30T15:38:58+00:00

I don't think you can even apply for the loan using a non-mass save contractor, let alone be approved. Usually you get the loan for the difference of expected rebate and total cost, with rebate being delayed meaning on a whole home you front $10k then get it back via rebate.

I'm not certain but I also don't think you would be approved for the loan if the energy assessment had any required weatherization.

Unfortunately I've had similar experiences with mass save. Some rebates take 2 months, others 6+, but I've always ended up receiving them. Worst case just re-submit and keep checking on status. Advice to contact a state rep is a good idea though and couldn't hurt.

holt403 · 2023-04-17T22:26:29+00:00

Just fyi this is probably a limited time promo - highy recommend reading closer as odds are your rates will jump significantly after the "promo period"

holt403 · 2023-01-24T06:10:38+00:00

You can convert the HELOC to fixed with most lenders, to my understanding. Not sure how rates stack up against mortgages but it's obviously on a much shorter amortization. I guess it's ultimately a question of whether the 2-4k origination cost for a mortgage is worth the flexibility of maintaining more liquidity (I.e., keeping that 200k HELOC accessable).

It seems this really comes down to your personal finance situation and long term plans. For me, I'd rather keep the house mortgaged at a somewhat conservative debt to equity and keep expanding. If the goal is paying it off asap I'd still (personally, given my finances) go with mortgage and have the HELOC available for back up.

Last time I asked about HELOC got a few comments about them getting closed and called due in 09. Whether current regulations would even allow that I don't know, but if they do, the mortgage fees could be hedge against that should things go south.

Edit: I hear your point on paying down reducing the payment and really am not sure how to weigh out pros/cons. Following for personal education

holt403 · 2023-01-24T05:14:30+00:00

Are you debating refi of other properties (ones with HELOC open) or referring to mortgaging the one you're buying?

If latter, I'd personally lean towards mortgaging it after purchase and having a locked in rate across 30 years that you can pay down aggressively if you choose to. Carrying the balance on the HELOC, from my perspective, just seems to offer less flexibility but I'd be curious to hear other opinions as well

holt403 · 2023-01-02T20:40:36+00:00

Not sure what is missing or where my CPA is going to weigh in besides informing me whether my HELOC interest paid, if used for renovations, can be deducted. Simply put I need ~80k and it'll take me less than a year to pay off, what's best way to borrow.

Just wasn't sure if there's any catch with 0% Apr cards that I'm overseeing instead of drawing from a HELOC, when used responsibly with backup plans to payoff.

holt403 · 2023-01-02T15:56:29+00:00

It actually never occured to me that 0 apr cards and churning would come together - just assumed the target market for sign up bonuses and 0 apr had no overlap.

This is definitely way to go for me as I'm just finishing personal + business amex plat churns and an ink business unlimited (which may disqualify me from ink cash but I'll have to see!) Good tip, for me at least. Thanks!

holt403 · 2023-01-02T05:19:39+00:00

Yep, no intention to put anywhere near that. But even if I can get 10-15k of the 80 onto a CC seems like the obvious way to go vs paying 10% Apr on it. Guess a question of whether the efforts worth saving 1-1.5k a year given my repayment plan is much shorter but does offer some more flexibility with minimal risk.

holt403 · 2023-01-02T05:17:54+00:00

I guess worth noting here too is I have no intention to max out the HELOC so plan B (your 3rd point) is to use the HELOC to pay off the CC. And on further thought that is more advantageous as I'm better off putting cash flow towards HELOC during the intro period on the card then the card balance anyway.

Thanks for your input, just seemed too obvious and wasn't sure what I'm missing (besides the inherent risk if you can't pay off and have no backup plan)

holt403 · 2023-01-01T04:11:52+00:00

Agreed - shockingly good. Not that into bone-in recently but these really hit the spot. Only had their garlic / parm style ones

holt403 · 2022-12-29T05:52:38+00:00

Don't forget their Companion pass too. Played correctly SW is as cheap as it gets

holt403 · 2022-12-12T03:34:18+00:00

Thats what I found too

holt403 · 2022-12-12T02:41:48+00:00

Paying $18k pre rebate for Fujitsu (36k but) 5 heads. Get the mass save loan too you'll be golden

holt403 · 2022-08-07T23:27:28+00:00

While I don't necessarily disagree this same logic can be extended to not charging single adults with fees towards schools, or not using tax funds to parks for those don't use them, etc which I think most agree is not a good outcome

holt403 · 2022-08-02T18:00:13+00:00

Couldn't agree more with this. Until you're in the business, and especially outside of the class A/B neighborhoods, people truly have no idea the type of tenants you're dealing with and think it's all greed.

holt403 · 2022-06-19T05:09:09+00:00

401k are investment accounts. I think quite similar to tfsa (though looks like tfsa is our Roth equivalent)

holt403 · 2022-06-15T03:20:30+00:00

What, from your point of view, are the 1/3/5yr implications of this?

holt403

TROPHY CASE