All Forum Posts by: Carlos Tavares

do you have numbers you feel comfortable disclosing here on BP?

dont have to be specific but how much you plan on pulling out during refinance,? will it lower your rate? how much do you owe that you plan on paying off? what kind of debt is it?

@Kristopher Hanks said it right, there are tons of info in forums, in past few weeks i feel like i expanded my knowledge base 10 folds in general knowledge :)

well it all depends on why? to what end?

is it for a better rate ? to lower your payments/ years?

to purchase investment property or more of them?

its always a good idea when asking a question to give enough info that it well help narrow responses. so its not a general response or call for more speculation or questions to help  you out better.

not sure about your 401k but if i had 16k and cashed out i would pay 40% in taxes and fees :/

i would suggest to talk to her face to face and politely ash her to refrain from harrassing you like this and not to ask you on a monthly basis about rent being paid before due date... if she is only calling your cell, you do have the option to block her ;) not sure if that will call her or enrage her though haha

not sure what "not enough money is" but if it doesn't cash flow then most here will say it isn't an investment at all.  and i believe lenders only look at rental income if it was commercial property, but i could be wrong

i would suggest that this can be one of the worst mistakes you can ever make... personally.  This has nothing to do with money (house hacking) or learning about being a landlord.  you will want to keep your privacy and intimacy,  you will lose it if you do this.  If you want to stay married the only people that should be in a guest room is your own kids or family visiting "temporarily"  Its a road that will ruin a friendship and/or a marriage.  on a lighter note....  wouldn't you want to walking around your own house naked?  ;)

i wouldnt keep this home as it seems to be a bleeder, it will cost you money to keep update and there doesnt seem to be much a cushion on expense.

my opinion is always do coin op. that way you can recover some of the money from laundry to pay the water and sewer bill and it usually will pay for itself in one year. an like others have said and know first had, there is a very high possibility for abuse, a friend of mine had his included in rent then one day he went by the house the people that didnt even live there was using it .. smh 

personally i dont think they are much lower then what you have now to be worth refinancing, especially considering you will be paying a higher amount and costing you a few thousand extra that can be better used, maybe somebody might have a different opinion but thats just me :)