All Forum Posts by: Clint Koehn

Tyler's, how does the pricing for this process compare to granite counters? Is there a price range you'd be willing to share? Sounds very interesting. I'd love to see pictures.

Hey Chauncey! I'm new as well but feel free to let me know if leads. I'm in Moore and while Edmond is not my preferred location, I know a buyer up there. Feel free to message me if you find something and I'll toss it out there for you. Thanks! Clint

Thanks all.

I think given the area I'm in, what we have in the house allows for about 70k in equity (50k available at an 80% LTV refi) which would cover the down payment on the new home. Then I would have a my old home cash flowing renting between 1,200 and 1,300/mo on a and most of my cash and investments still in my pocket. At the same time, refinancing on a 30 yr will bring my mortgage/ins/tax payment down to roughly $800.

The more I write about it the more I like it.  Equity in a rental is of little importance to me.  I'd rather have my equity in my private home.  Feel free to slap me if I have something wrong here or if my logic seems screwy.

Hello all, new to the forum after getting hooked to the podcasts over the last three months thanks to a coworker/bigger pockets member. I'm in a bit of a pickle and wondering what your opinions are on how to start out. My wife and I are expecting our first soon but I still want to get into REI through single family rental properties. Problem is, we are wanting to step up to a larger home with the new addition on the way and trying to see if there's a good middle ground where we can do both. My main question is: would it be ill advised to cash out refinance our current home for a down payment on the new home and keep the refinanced property as our first rental? I like this idea as we can cash out and end up with a lower payment if we extend the term as we started with a 15yr mortgage on the Ramsey plan. As I've learned, I have become more comfortable with using debt as a tool so it seems logical to me. I don't want to cash in all of my investments and I want to have ample cash reserves if I get into real estate. Financials below: Current home: Purchased: 110,000 Est. value: 155,000 Mortgage balance: 70,000 Mortgage terms: 15 yrs - 12 yrs remaining Liquid assets: Cash: 65,000 Other inv: 65,000 New home max target: 280,000 I know many would say buckle down and suck it up in the current home and buy even more properties, but we really want more space with the changes coming.