All Forum Posts by: Felisha McCurry

@Sean McCluskey

We are doing cash out refi with our local credit union. 4.5% 10/5 Arm 25 yr Amortization. Was super happy. Locked in a week or so before feds cut rate so now wondering what it would have been if I had waited a bit.

@Joseph Akingbade thanks so much!

@Daniel Reyes thanks so much. It's been a long, but fun process. Lots of flips, renters, and sweat equity. Started at 18 yrs old, now 41 yrs old (off and on juggling life, kids, breast cancer, work, etc). Finally starting to feel the fruits of our labor. I wish I knew then what I know now, boy how we could have sped up the process. Oh well, hindsight is 20/20. Thanks for you response and well wishes to you and yours!

Scenario - what would you do?

Monthly expenses - $3k

Rental income - $2k

Cash - $200k

(Don't want a ton of rentals to manage)

Options:

A. Payoff another rental - approx $100k to clear the extra 1k to get to the 3k/mth and be FI now.

B. Invest 200k in market (index funds) and draw down/dividends 1k to make up difference in monthly expenses.

C. Buy another rental with $100k that will net the extra $1k to get to the 3k/mth to be Fi.

@James Murphey I'll check out this book! Thanks for the input and recommendation!

@Nathan G. Good point! Our original goal was to flip while our market was hot and stash cash to buy and hold later on when things cooled off. I'm just reluctant to make the switch or adjustment yet feel it's coming soon. Ultimate goal is FIRE!

@Mel Cosio completely understand and relate. We are so focused and feel like we have good momentum. I feel a shift will be coming soon, but maybe we have a bit more time evaluating. Thanks!

@Russell Brazil what were the cases you didnt purchase if you don't mind sharing? Thanks!

@Chris Mason true! Thanks so much!

We buy fixer uppers and rehab them and resale. Total time is usually less than 6 months. Should we buy the owner title policy each time. Cost is usually around $500 per $100k.