All Forum Posts by: Je C.

Of course not, but my point is that if you can (at a minimum) break even on both and increase rents over time then it might make sense. The idea use equity build up to buy another property that can generate cash flow and appreciate overtime rather than leaving the money locked into one property.

I've got another scenario I'd like to hear thoughts on.

* Current investment property with a 3.875% interest rate

* After doing an appraisal and working through the numbers it looks like I could pull out $125K

* However the investment property currently pulls in $2,500 in monthly rent but the new mortgage (plus insurance, taxes and common charges) will be nearly $2,977 (new interest rate is 4.25%).

* Does it make sense to do a cashout refi if I can take that $125K buy another property and cash flow >=$478/month. That way you are positive by one dollar and have 2 assets that can appreciate over time? Is that the only case where it would make sense?

Would love to get your thoughts

In the areas that I'm looking at I'm seeing fairly low cap rates with purchase prices around 300K-400K. What are you seeing in Federal Hill.

@Ricky Beliveau which parts of Providence do you like? I like Fox Point, College Hill and Mt Pleasant. Last that I looked I was seeing rents in Fox Point and Mt. Pleasant in the $1,300 range and multi units </=10 going from $300K-$425K. Is that still accurate based on your experience? @Anthony Thompson why Pawtucket I feel like there isn't likely to be any development there. I fear that the town that has little upside. It seems somewhat depressed and I don't see the catalyst to change that. From what I've seen the properties are very old and B and C properties. Looks like you live in RI and might have a different perspective Thoughts?

Hi everyone. I've been listening to the podcasts for a couple of months and am ready to see what I can learn from this community. I'm particularly interested in Providence RI and Southern CT.