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Updated over 6 years ago on . Most recent reply

User Stats

30
Posts
3
Votes
Jan Michael Ronquillo
  • Hayward, CA
3
Votes |
30
Posts

How to tackle these personal loans?

Jan Michael Ronquillo
  • Hayward, CA
Posted
Hello BP community! Hope somebody could enlighten me with my situation. I purchased these properties with personal loans. My question is, how should I tackle these loans? The values of the loans are as follows: A. 35K 10% APR (monthly $745) 5 year loan Property ARV 60K Rehab 15K Monthly Rent of $750 B. 40K 8% APR (monthly $786) 7 year loan ARV 60K Rehab 5K Monthly Rent of $800 Won't these loans affect my refinancing options? And what are my refinancing options in the first place? Any opinions/ suggestions/ criticisms will be appreciated. Thank you again BP community!!!

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