Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Goals, Business Plans & Entities
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago, 08/13/2017

User Stats

72
Posts
13
Votes
Benjamin E.
  • Investor
  • Chicago, IL
13
Votes |
72
Posts

Any better scenario to pull out money that I am overlooking?

Benjamin E.
  • Investor
  • Chicago, IL
Posted
I bought a three flat for $415,000 almost a year ago to date. The rents were $850 each. I am on a FHA 30 year fixed at a 3.35%, with 5% down. PMI will never come off this loan due to the FHA loan I got at the time, and is aboit $275 a month. Total PITI is $2750 a month. After a year, 100k borrowed from my first building at about $300 a month, and a ton of work, the units rent fpr $1275, $1325, and $1375 (but I live in this unit). Also, added $400 a month in parking space rentals. The building is coming back in at $650k. I would love to find a way to get out of the PMI, or pay off the 100k quickly. Because my interest rate is so low, I am having trouble finding a way to make this work. Any thoughts or suggestions on things I may be overlooking? I want to hold it and not sell.

Loading replies...