All Forum Posts by: Iris Thomas

@Melanie Dupuis

Could you elaborate on creative financing or owner financing? I am not familiar with those phrases. I would love to be in the position to not have to use my own money.

What are some ways you have been successful in purchasing / leasing to own property?

@Theresa Harris

I will! The rates here are definitely low but I have realized that some lenders have higher interest rates depending on the type of loan ( residential or invest ). I will definitely look into both ( HELOC and refi)

@Theresa Harris

I am looking for an options where I don’t have to use my own cash. I currently have an interest rate of 4% and a positive cash flow of $250 a month after expenses. I am not sure if refi will give me a lower rate but I am looking for a way to use my 1st house to purchase my second home.

@Rachel Mazzanti thank you!!!

BLUF- I owe $119k on my first property and the value of the home is $178k. Currently, I have a reliable tenant in the house for almost 2 years. I am now interested in purchasing a second home but I don’t really know what to do financially? I need some options, please!!!