All Forum Posts by: Joe Crupi

Solid feedback @Laura Kayes and @Dave Foster.  Appreciate the feedback.  I tossed the idea back and forth to sell it, but hadnt decided on it.  Current rent only has me off by $100 or less, so not a big deal, but going to $450 in the negative a month by refinancing just isnt cool lol   definitely making me think about it...I think I'll be on the hunt for a multi 

Solid post...now i Just have to research what these zips break down to, I only know 78240 because thats where my house is lol

On a different note, how are ya'll doing with your rentals with these insane taxes that keep rising each year?  Im under water each month with my mortgage, and not terribly certain there's much up-swing left in my rent at my current mortgage, let alone if I do a cash-out refi in order to buy another property.  The taxes are starting to get almost as crazy as NJ, and that concerns me quite a bit.

A good question I think is, and going of from some personal experience here, is where can you invest in the city where the rent is even covering your monthly expenses without buying a property 20% or more less than ARV? My house has appreciated pretty decently, but I don't see the rents even covering the monthly payments if I cash-out refi at 75%

So here's my situation.

I bought in French Creek Village area of San Antonio back in 2006. House was $194k, and refi'd a few years in at a lower rate and get ex off mortgage. House now has an ARV of about $265k, and owe approx. $63k. Now, my current monthly rent of $1440 ($1600 - $160 for PM) doesn't even cover my current mortgage payment. In addition to that, I was looking at doing a cash out refi, one reason to get the cash to use for another property, and two to get my full VA benefit back. However, running the numbers it looks like my return on equity would be even lower. At my current rent, I'd be out of pocket almost $450/month with a mortgage of $198k at 5.75% over 30.

Are rental rates just not keeping up with property prices?  I think there may be a little room for rent, but it doesn't look like too many of these homes are renting in the high $1k or low $2k range...?   

Should I just sell it since the ROE is so bad, or continue with the refi?  Its making it hard to find other properties that cash flow enough to cover themselves and the extra $450 month and STILL have extra cash leftover.  Kind of in a pickle here on what the right move is.

If you wanna check out property for rental evaluation purposes, its 7723 Mary Carolyn St, San Antonio

Is that going to stay the same?  it seems counter-intuitive to use an 'or' operator using more terms....for instance, if i search brandon, there's say x number of returns, if i search brandon turner, there's x+y number of returns....that makes it increasingly more difficult to narrow down posts that 'brandon turner' has been a part of.  extrapolate that down to any search with more than one term, and you can see how it wouldn't be as useful as an 'and' search.  

@Lauren Hogan

Another question:

Doing a search on the site seems to function with an ‘or’ operator vs an ‘and’? Is this intentional, or does it default with an ‘or’ statement and I need to add an ‘and’?

Pretty much what I was expecting to hear, just wanted to see if there was something maybe I was overlooking. Appreciate the feedback guys.

Hope this makes sense, but was listening to episode 269 with Amanda Han and Brandon Hall, and it got me wondering.

Is there any real net- benefit from owning a relatives home and having them pay you rent versus them simply owning the home themselves? Would there be any benefit to doing this that keeps less money going to the government overall?

Title and such isnt of real concern, as it would be kept in family.

Curious to hear if this makes any sense, or “Joe, youre dumb by taking income that isnt really income” type of comments.

Had to look that one up....and it sounds just like what I thought it would be.  I can definitely see that being a tactic in certain scenarios.  Honestly, Im not sure how it will play out....there's some unique factors with the complex and those 'in charge'....

I've seen your name on quite a handful of posts @Jay Hinrichs...Always solid info...appreciate your input here!   Definitely makes things a bit more clear.  Maybe the goal would be to give them a longer loan period than the current one, keep that income coming in longer....tbd

and hey, if you got a couple mil that you wanna bring into this so we can get this property, I'm all ears :D :D