All Forum Posts by: Jake Langley

@Dominick Austria

Good point, I defiantly want it for real estate. I still think I will sell the property and use the 100k for a part ownership on a multi family. The cash flow would be in the 1k/ month range. The 50k refi doesn’t go that far Las Vegas. I am considering all your opinions and I appreciate the input.

@Cole Raiford

Right I can pull out Maybe 50k .

@Jake Langley

The current rent won’t support a positive cash flow with the refi. Thoughts?

@Jake Langley

But now that I look at your math I will revisit the cash out scenario

@Steve K.

Oh ok, with the cash out refi the current rent would not cover the expenses, so I’m not sure that’s a good idea.

@Steve K.

Thanks Steve, that’s what I thought. If I refinanced it would destroy the cash flow in the property, so I’m going to move towards selling it. Your math makes perfect sense. If I can get a 10% return on the 100k it doubles my cash flow even though the rate of return is lower.

Just to be clear, the property has appreciated 100k in 2 years so I will have tripled my initial 35k investment

I am considering selling my sfh rental. Currently I am getting a 17% cash on cash return on my $35k investment. $500/ month net rent after expenses. A great deal, but there is 100k equity wrapped up in the property that I could use to invest and increase my cash flow to 1k/ month. Should I sell the property and take the cash, I’ve only held it for 2 years. Any suggestions out there?

ok right.  Are Lease Options (option to purchase) Assignable?  in other words can the tenant (who cannot excersize their purchase option after 3 years assign the Lease-with option to buy to me? that way I can buy the property under the conditions of the current tenant option and deal with them later. ie find them a cheaper place to rent from my other rentals.

Does anyone have experience buying a property under a defaulted Lease Option.  The current tenant in the property has not been able to purchase the property under his Lease option and refuses to leave.  The current owner wants to sell the property but doesn't want the trouble of evicting him as he is arrears on his rent.  If I purchase the property can I evict or do I inherit the Lease option of the bad tenant?