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Updated almost 12 years ago,

User Stats

54
Posts
6
Votes
Mineto Anfield
  • SFR Investor
  • Alexandria, VA
6
Votes |
54
Posts

This was easy

Mineto Anfield
  • SFR Investor
  • Alexandria, VA
Posted

Helped someone else out, but this one is paying off. Relative did not want to make mortgage payments on current home and new home purchase. I suggested that he rent the current home to cover the mortgage, but he didn't want the hazzle. All he wanted was to be free of the payment. I took over the payments and the property is deeded to me now. I have a signed lease for a tenant moving in 1 April whose rent payment will more than cover the mortgage. My plans are to refinance the property to get a lower payment and better cash flow. Is the refi a good idea?
I'm really starting to like this real estate investing:)

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