All Forum Posts by: Don Parent

What exactly does LTV mean. Also If j have a USDA loan can I refinance with a different type of loan

All right so my wife and I recently bought our first home, we financed it with a USDA hundred percent financed loan. We are thinking about trying to find another home and keep this one as a rental property. My wife seems to think that we can't keep it as a rental property because we don't have enough equity built into it yet. My question is does anybody have any experience with this and can shed some light on the subject.

Hey guys my wife works for a real estate agent and he has a plot of land for sale that we could potentially buy for like 5,000 and then my wife and I were thinking about buying it and then building a multi family unit on it. What I'm curious about is how I would get financing for something like that? Appreciate the insight

Hey Cedric, From my experience as a plumber, tankless hot water heaters are usually not a good investment. They are much more expensive to buy and install. Your electric ones take up 3 double pull breakers in your electrical box which is a lot. They also have way more "parts" that can fail. Your standard electric water heater has basically 2 parts...thermostats and elements. I usually recommend that people stick with traditional water heaters. They make them in all different sizes so you should be able to find one that fits where you need it to go. Hope that helps

Yeah I would be interested in attending as well if there was one that met consistently.