All Forum Posts by: James Black

@Rhonda Blue

Thank you! Need to school myself on the 1031.

@Joe Villeneuve Thank you for the input. Just making sure I'm not missing something. 

I have a rental property that used to be a primary residence that I have been renting for 6 years. I could probably get between 460k-480k for the property and owe 309K. It has a CoCROI of 0.89% and a monthly cash flow of $100. 

I really want to start generating some monthly cash flow but am not sure if I should hold this property and get a hard money loan or sell it and use the "profits" to purchase more rentals. I have profits in quotes because I have approximately 270K in it (20% down payment + reno + mortgage payments for time I lived there).

@Dante Feria thank you very much for the input.

@Leon Collins Both homes were primary homes at one point. Moved from the 1st to the 2nd and rented the 1st about 5 years ago. 

@Dante Feria Would heloc be best for a flip, rental or does it matter?

@Leon Collins thank you for the input. I haven’t

Refinanced but am considering.

Hello everyone. I currently have 2 properties, one of which is a rental. Both properties have equity above $100k. I would like to start investing in either a rental or a flip. The question I have is what would be the best option to get the capital for the investment property? I am thinking refinance the rental property to take advantage of the equity. A question to go along with that is what type of mortgage should I take to if I go that route.

Any suggestions would be much appreciated.

@Pattie Robertson