All Forum Posts by: Jake Adams

Does anyone have a good state of Ga rental agreement they wouldn’t mind sharing? I have one, but I feel it is very vague.

I am working on my first BRRRR property. I have found a bank that has given me the option to either take out a business line of credit on 80 percent of the appraised value or refinance at 75% of the appraisal. The BOC min payment is interest only. The BOC seems like the best option, but I am not sure if I am missing anything. Any advice is appreciated.

We currently own 4 rentals and looking to get more (5 or so per year), what are the pros and cons of establishing an LLC for our properties?

@Ian Hoover outdoorsy.com is a good website to checkout

@Jerry Padilla

Thanks Jerry

@Ryan Lee

Mortgage is $1600 including taxes and insurance. Rent is 1950.

Sorry it so long to reply, I am new to the app.

I have a rental property with about 120k in equity. I owe about 80k with only 7 yrs till payoff. I am earning just over 800/month off principal balance and cash flowing approximately $300/month.

My question is would it be beneficial to do a cash out refinance and reinvest into more properties or ride out till property is paid off and collect residual income?

I purchased a home in 2011 as primary residence 15yr 3.5%. I have since converted it to a rental. I was thinking about a cash out refinance in order to purchase more properties. The loan balance is $80k, current appraisal around $240k, $200 month cash flow, currently gaining about $800 month equity.

Would it make since refi and increase debt on this property even though it is gaining so much equity based off of loan amount?