All Forum Posts by: Deadrick Colbert

That's awesome. Way to go!

Thank you @Matt Turbitt.

I have about 60k of equity in my primary residence. I have toyed with the idea of refinancing and using the cash to put down on another house. I would move into the new house and it would become my new primary residence and also give me a lower rate. I would rent out my current home. Currently, I have 9 yrs left on a 15 yr note. Does this sound like a good strategy? I welcome any feedback from those that have already done this.  

Hypothetical question...If you had a 40k to invest and wanted a buy and hold property. Would you pay all cash for a sub 40k property, make a few minor repairs, and then rent it out for $500-$600 per month or would you use the 40k to make a 20% down payment and get a conventional mortgage on a much better property and rent it out at $950-$1050 per month?

This would be awful.

http://www.miamiherald.com/news/local/community/broward/article86623042.html

 @Jonathan Godes, thank you for the input. 

@Mike Wood thank you for the information.

Are there any banks that fund fix and flip properties?

I'm a buyer.

@Jordan L. in South Carolina, each county has their own criteria for appealing property taxes. I recommend going to the county website and seeing if you can do it online. I appealed in Pickens County a few yrs ago and they lowered the tax assessed rate from 154k to 129k. You have to have documentation to prove that you are correct. In my case, I purchased the house as a foreclosure, so I simply attached a copy of the appraisal that was used when I purchased the house and that was sufficient. Good luck.