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Updated over 6 years ago,

User Stats

169
Posts
8
Votes
Elijah Glenn
  • Hurst, Tx
8
Votes |
169
Posts

I need money to fund my deal.

Elijah Glenn
  • Hurst, Tx
Posted

Here is what I am thinking of doing.

1. In order to pay for my deal, I thinking of refinancing my house.

2. I'll get about $20,000 in the cash-out. 

3. My mortgage is $1255 plus $140 in a foundation loan.

4. I'll take $5500 from the $20000 and pay off my wife's care. Monthly payment of $260.

5. Leaves $14500.

6. I have a foundation problem in my house. It will cost $14,500 to fix. 

7. Currently, I have a loan of $6500 (unfinished foundation loan)($140 a month).

Should I refi and cash out?

Should I take it out and pay for the 2 debts and the new foundation? Which the house I live in would be more stable. 

But I would not have enough money to invest. But I would $400 a month. Which $200 would go to the new refi. 

- Should I pay for both debts and fix foundation?

- Should I pay off of the debts and use the rest to fund an investment deal?

Please assist!

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