All Forum Posts by: Aditya Var

I have been trying to get a heloc on an investment home. They are asking for a transfer fee at closing. What is this fee, never heard about it before.

Thanks much

aditya

Hi @Christy Greene 

St Johns county (I am a resident here)  is good and is preferred by most because of the schools. For that very reason, the cost is higher here when compared to Jacksonville. 

Cash flow from residential rentals in the county is generally low compared to what you will find in Jacksonville.

Aditya

Superb! Congrats on a great sale price as well.

Hi @David Thompson ,

I am interested in learning about this deal you are putting together.

Thanks.

Cool! Inspiration for people like me. Congrats!!

@Gino Barbaro Welcome to Jax! Looking forward to meet up when you make it here. :)

Aditya

@George GammonThank you for your great insight. And yes, that is the most difficult - guessing where it would go between now and the time we buy - up / down / nowhere and by how much.

@George Gammon thanks for the tip. Great info as always. Now, to get the equity out of my house before prices go south! :) And look out for low priced rentals.

Have not tried a flip yet. Would like to try a small one first to see if it is something I like.

Thanks @george gammon for the detailed response. I have to re read that a couple of times to understand where you were going with that logic. :)

R/v values where we are at are pretty good on the smaller houses. I don't think that will change. We have built up equity in the current house but it is not paid out yet.

We were looking to move to a bigger house, but I am going through the dilemma phase right now considering new house pricing is around 135 per sft in this area.

Renting out the current house is not going to be an issue as I am confident about the cash flow.

Having said that, I have to look into what you suggested. Do you really think negative interest rates are likely here? Probabilities?

@george gammon that was a pretty enlightening writeup. I have a question. We are looking to move to a sightly bigger house in the next one year and rent my current residence out. Rentals in this area are good, so that is not the problem.

Given that the home prices are pretty high in this area (st Johns county), my dilemma is - do I use the equity in my current house to make a down payment on this future house or am I better off buying some rental or waiting out an year before buying - hoping that the correction will come by then?

Thanks

Aditya.