Can’t re finance dept ratio to high

[JoNell Karling]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $205,000,000
Cash invested: $40,000

4B , 3 fuel baths 3,000sqft

What made you interested in investing in this type of deal?

Bring in extra income was great for a rental

How did you find this deal and how did you negotiate it?

I found it by driving around . The price was the lowest in the area

How did you finance this deal?

Down payment from own money financed by doing an arm for lower payments

How did you add value to the deal?

Financed with an arm for lower payments

What was the outcome?

The lower payments helped but did not refinance the arm to a conventional loan soon enough the new interest rates are catching up
But glade I used the arm for 18 years

Lessons learned? Challenges?

Should have refinanced the arm sooner