All Forum Posts by: Jeremy Stallone

Currently finishing up a rental and debating what to do about the mortgage. mortgage was 100k and 83k owed still. 

It is currently a FHA 30 year at 3.625 with pmi forever(I believe) that has 7 years paid already. There are 3 options we see going over.

1. Refi to a conventional 30 year mortgage removing PMI and lowering the mortgage helping with cash flow.

2. Refi to conventional 15 year mortgage removing PMI increasing monthly expenses but cutting the loan by 8-13years but lose some cash flow.

3. Cash out Refi bumping the loan to 115k removing PMI but pulling out 30k in equity and beginning process of looking for next rental.

Currently on the fence about what makes the most sense.

Adrien,  what are rents going for out there for 4/2 and 3/1 by chance? the house were working on is near south haven.

thanks for the replies. I would definetely like to talk to both of you for some input as me and my partner are new to this. I will reach out soon

New to rentals. A friend of mine and myself have a property in the valporaiso area that needs quite a bit of work. We are trying to understand the market to determine if it should just he sold as a fixer upper, fixed and flipped or used as a rental. 

Just looking around the area there is only 4 rentals that offer 3 bedrooms or more currently in the area. We have a 4 bed 2 bath home with 2k sq feet. Trying to figure out what kind of rent this property could command and if it's even a good renter's market. any advice would be appreciated.