Skip to content
×
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
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Classifieds
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 6 years ago on .

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!

Offering