All Forum Posts by: Allan George

Just double checked the exact timing and it was closer to 3.5yrs of ownership but got no - I received no pushback from NACA.

@Quiana Berry

I was able to do exactly this ~3yrs into a NACA loan. When you're ready to refi, you'll simply need to request a lien release from NACA (basically your mortgage agent sending over a bit of info to NACA).
 

@Scott E., @Paul De Luca

Sorry my explanation might've been a bit unclear. It'll be ~$100K each so I'm getting ~3.6% ROE.

$30k of that would go towards a mix of personal loans / CC debt with a weighted avg ~10%. I would aim to redeploy the rest. The math get's funky on the redeployment but even a HYSA would get me 4%+. 

Not 100% sure how to factor in any current tax advantages / write-offs from the property into my math.
 

Have a former multi-family house-hack in NJ that I converted to a full rental 2 years ago. I have 1 year left to qualify for the primary residence capital gains tax exemption.

Property has a 30yr mortgage @3.6% interest rate and currently cash flows ~$300a month after all expenses and splitting with my partner (with some room to get up to $350/400).

If we choose to sell, profit will be ~$100k after expenses and split with my partner. Funds would be used to pay down some debt and possibly purchase another multi-family locally in TX (although tough right now).

Do you think I should sell in the near future to capitalize on the tax exemption or continue to hold on to the property for cash flow?

Where in Rochester? I currently live in Jersey a City but attended college in Rochester and plan to invest up there later in the year.