All Forum Posts by: Jared Skov

@Joshua Janus

The rental market in Columbus, OH looks dead to me. A lot of 20+ days on the market and rental price drops.

@Keao Tano

They’ll be 6% by April to combat inflation. Interest is just another tax deduction. As long as it cash flows, the rates don’t bother me. Every 0.5% rate increase per $100k is a $40 difference.

@Ryan Mapes

Can you 1031 a SFH into a MFH? If so, I may be looking into this on one of our SFH properties soon..

@Jody Tims What's your current interest rate and how many years do you have left? Consider a cash out refi to get your mortgage to 3% and pull out up to 80% LTV and still cash flow…

@John Morgan

In the past two months, I’ve cash out refinanced three properties that still have nice cash flow after the refinance. Grabbing more cash while values are high and lending is loose.

We currently have a duplex that cash flows $600/mo, owe $240k and 27 years left on a 30yr/4.25%.

We could do a cash out refi for $115k, cash flow would decrease to $200/mo, but we’d have $115k ready for the next opportunity. We wouldn’t consider this if we were in our 60’s, but at 35, we still have some time to ride out any down turns.

Just feel like now is the time to take advantage of an inflated market with low rates to bolster the cash position &/or buy a solid property for a long term investment if something comes up and ride out any downturn.

Thoughts?

@Paul Charles Bayliss

Do you have any immediate family in the area? A friend of mine purchased a quad and his mom moved into one of the units as her primary residence and he only had to put 5% down.

@Philip Abbey

Pay off your short term debt, save 6 months of emergency funds to cover all your monthly expenses, then save for REI. Having too much risk combined with debt is how you lose everything.

Do you have family keeping you in that area? Do you love your job and your location? I'd take your cash and explore a different part of America if you don't have anything holding you back, chances are better than good that you'll find a job making more money and get into a tri or quad instead. Get your quad or triplex and live there for a year, then move back to NYC if family is ther, either way, you'll experience a difference part of the World and gain an asset. GL

@Steve Emling

3/2 for SFH. 2/1 x2 for Duplex.