All Forum Posts by: Christine Mwai

Healthcare costs and Student loans are 2 of the TOP financial stressors and hindrances to financial freedom in the United States.

Ashley, 

Been there and great Q. See if you can get those rates reduced. What you want to consider is if the numbers make sense.. For example if you were to pay 5% on the 200k and your return upon consideration of ALL the costs of real estate is equal or greater than 8 percent using 200k, I would do it. It’s about the numbers. I would NEVER have ventured into real estate investment if I listened to nay-sayers. Be cautious, run your numbers. Mine were/ are ( student loans) at about 4 percent rounded up. So the return on the rentals  gives me money to pay them down quicker, plus I’ve had appreciation on the properties. So just weigh all angles. I did ask myself that 9-10 years ago. Best wishes. 

I don’t know if I would term rental property as a “game”, coz jokes aside it is a serious business, investment and people live’s and money are involved. That being said, I’ve had a tenant tell me he was behind on rent coz “his wife died”... they were going through a divorce.  He did not know I had seen and spoken to her the previous day when dropping off my child to a friend in the same neighborhood. So my reply was this, “ She died? Did you kill her last night or today?”

She was VERY alive and well 😝

Hi all!

Anyone know of places or companies that can do cash- outs based on assets? Have properties in A-B neighborhoods, free and clear, but have poor credit due to personal circumstances. I'm tired of hearing "NO" from regular banks. I am working on my credit, but that will take a while to rebuild. Are there lenders that can do this based on the property as security. Even 60 percent LTV? Thanks for any responses.

Very interesting discussion. You could do a lot with $900k, but it depends on the market you are buying in as well as the terms of your HELOC.Your numbers and market should help you make wise decisions on this. What's the interest rate on the HELOC? What are the terms and conditions? It's hard to answer your Question without having the data to do so. Best wishes.

Thanks. Good buys north  of Huntsville too if you are ever interested, depending on your comfort level. I buy in B neighborhoods. But in C-D ( is there a D?:) neighborhoods $30k-65k  can get you $700-900 in Rent.

What ratio are you looking for? Lots of great price to rent ratios in AL if one knows where to look. I’ll be glad to be of assistance, I’m short on capital currently. Mine’s all tied up, but I have an investor eye so I see a good property when I look at the numbers. I’m  about 2 hours from Huntsville. Best wishes. AL tends to be more of a buy and hold or rather cash flow. Appreciation is not the goal as it’s pretty weak. 

Why Huntsville? I’m in AL. Just wondering why you picked Huntsville vs other surrounding cities.

Those don’t have to be paying “ tenants”:). They’re just people that stopped by, decided to overstay and leave money on the kitchen counter every month out of guilt:). And a question please: What’s the penalty for violating that clause? You’re giving the lender and government too much credit: by the time you sign the loan, they have the next person’s appointment to sign another loan already underway. We are all just here to help keep the economy growing. I wouldn’t worry too much. That sentence “ no other income earning adults living there” is just absurd. So no one can live there with you even if they give you no financial compensation? Wow. Do as your conscience deems fit. There are multiple ways to “ skin a cat”.