All Forum Posts by: Erika Rogers

@Zackary Shephard

My rate right now is 4.5% but I talked to my loan officer and he said it wouldn’t drop much if I refinanced it for an investment property

I am trying to make a decision on which direction to go to start out my investment journey.

Currently I am trying to crunch the numbers of what cashflow I would produce if I decided to rent out my own SFH. Currently I am trying to crunch the numbers of what cashflow I would bring in if I decided to go this route.

Purchase Price was $149,900

Comps in the area look like I could potentially rent this property out for about $1,600

the PITI equals out to $1,132

Vacancy I used 10% of the rent = $160

Maintenance and Repairs I also used 10% of rent = $160

The calculation I used was $1,600-$1,132-160-160= $148/Mo

From what I understand that would only bring my monthly cashflow in as $148

1. Is this the correct calculation?

This does not seem worth it to me, I'd love to hear opinions and constructive criticism

@Adam M.

I will check on that. Thank you

@AJ H.

It’s a 30 year conventional loan. I owe 140,000 property is valued around $165,000 with comparable in my neighborhood. My interest rate is 4.5%

I am not sure the renting prices but I think they are around at least $1,300. I need to find some numbers on that, but I’m not sure where to find that

I currently have a 3 bed 2 bath home 1800 sq ft. With the market the way it is now, I could profit around $20,000 by selling. After listening to the BP Podcast, I've learned about refinancing and holding long term. I am working on understanding refinancing fully but I am still back and forth with selling. I want to take the jump and start investing in rental properties. I'm having trouble deciding if this home I've owned for 2 years is the perfect home to begin renting out of if I should take that cash and make a different move? Advantages and disadvantages of each option? Opinions appreciated!