All Forum Posts by: Brit Hale

Hi Jim,

I'm an investor friendly Realtor in Joplin, MO. I'd be happy to chat and see if we're a good fit to work together!

My cell is 417-388-1446. I'm on vacation until Monday, but couldn't resist the keyword notification : ) 

Feel free to send me a text and we can get a call scheduled. 

Hi @Sonya Crowley! Congrats on your purchase in Joplin! I live here in town and would happy to connect sometime and discuss future investments, strategies, and/or any way I could be of help!

I would contact ProX Property Management. I’m a Realtor at Keller Williams in Joplin and I have them manage my properties to help keep defined separation in my own businesses. Message me and I’ll send you contact info. 

@David Barwick always great to see more people from Joplin on here!

@Keaton Burke best I’m seeing in Joplin is 25 year on a 10yr balloon at 4.75%

@Jefferson Brown any chance you can recommend a solid Realtor in the Destin/Miramar/Santa Rosa area? We’ve talked with a few but recommendations from someone who is already familiar and also an investor would be greatly helpful and much appreciated. Thanks in advance!

Also, I may have a couple condo complexes to ask your opinion on via direct message if you don’t mind?

@Paul Wilkins

You could do both, generally you wouldn’t want to. If you have great loan terms on that property now, would suggest a heloc to use those funds and replace them when you sell or refinance. Otherwise, you may have a pile of money from the refinance, but if it’s not working for you, you’re just paying interest on it.

Largely, the answer has to do with your current loan terms and plan for the first/subject property.

One other example would be if you did a cash out refi up to 75% LTV. Let's say 300k house. So you owe 200k, you get 25k cash out, not the loan is at 225k. AND, another bank would allow you a HELOC up to 85% LTV, which is 255k.

In this scenario, you end up with 25k liquid cash, 30k in funds available to draw from your heloc. Some banks allow up to 85-90% LTV on heloc but 75-85% LTV on cash out refi. This is the only scenario I can think of to make it worth doing both.

@Russell Brazil BOOM! Set high standards that only tenants you desire will meet.

Is BP paying you yet? They should be.

@Harpreet Singh yes, it’s possible. This would be the same structure that the larger brokerages use- Keller Williams, Zillow, etc. Might be good to check and see how they setup and structure things. eXp is basically Keller Williams in the cloud, patterning that model might be easiest. Best wishes on your ventures/adventures in Real Estate.

@Roland Cheek keep it all, don't sell! If you've had the investments for a couple years, they should be able to count a portion of the rents toward your DTI.

I bought my house with an fha loan. Applied my commission of 3% to closing, darn near 0 out of pocket to walk into it. Market went up and did some updates, refinancing to conventional. Now I can pull the trigger again on an fha loan with almost nothing down if/when we find a property worth moving for. I would advise to do something like that, even if you’re not licensed and have to come up with the 3.5% for the fha loan.