All Forum Posts by: Jeffrey Evans

Congrats!!  NB was the place I picked up my first rental also..  

I got my 1st rental in NB almost 2 yrs ago.  Its tough to cash flow there now that prices have gone up.  I like the market but prob not possible to cash flow much with a turnkey type place.  I do think it should appreciate and be a good market long term but I doubt I will get another place there since I don't like to rely sole on appreciation.  

ah. Gotcha.  Ya you def hear a lot of people talk about dumping in a large lump sum up front then borrowing from the policy for whatever investment they are doing. But not sure how that works.  Seems like you would need a fairly high death benefit to make it work and not exceed your MEC limit. 

@Thomas Rutkowski curious why you wouldn't want to pay the premium as a lump sum annually vs monthly?  isn't is more expensive to pay monthly?  I thought the cash value would grow faster if put it all in up front each year.  

thanks for the info

Jeff

I have 1 in L-Ville also.  its older.  A bit worried about it.  I have heard it can cost 5K ++ to remediate the issue if there is lead in the pain.  

I picked up a new build a year ago in NB.  I have been super happy with my investment.  Although the prices have gone up a lot since I got my place.  The same exact build in my development is 100k more now vs 1 yr ago which makes deals harder to make sense unless you are willing to bank solely on appreciation.  I have also been looking around SA due to more affordable prices then NB.  I am a bit tentative about buying in the small towns out side of SA.  But I agree with @Meghan Castro that people will move and commute as prices continue to rise and push people out of the area.  

Isaac with Piedmont is great.  Nice guy that goes above and beyond.  

That's kind of what I was thinking.  Was just trying to be lazy and didn't want to open with a new bank :)  I already have chase CC's maybe I use them.  But like the small banks/credit union just worry if every out of state and need to access a bank it would make it more challenging.  

can do a DSCR (debt servicing coverage ratio) type loan. Most lenders will look at the deal and not your personal w2 for that type of loan.

I have a Business account with bank of America.  I recently closed on a small investment property in KY.  I wanted to keep all my income and expensive for this property in this 1 account.  Since the account and the property are new to me I do not have very much capital in the account.   BofA charges 16$ a month if I have less then 5k in the account.  Is it a bad idea to put some money in the account from my personal account to meet the 5k minimum and then move the money back to my personal account once the income from the property builds the account up enough?  Or should I just eat the 16$ a month to not inter mingle my personal/business money?

thanks so much