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All Forum Posts by: Jon B.

Jon B. has started 10 posts and replied 70 times.

@Jeff Filali Good job man.  Is your marketing company the website shown on your signature?

Hi everyone... Just curious as to what iPhone and Android apps do you find most useful for REI ? (non-MLS apps like Zillow, Redfin, etc..)?

Go to a pet store and put some mice ad a snake in her place... She'll move out then.

@Austin Fruechting  What books did you find the most helpful? 

Congrats on financial independence!  Would love to read a detailed story of how you did it.  Get on the podcast!

Post: Buying a second property w/ 1st property equity.

Jon B.Posted
  • Maspeth, NY
  • Posts 75
  • Votes 62
Originally posted by @Troy Gandee:

@Mark Fitzpatrick You've also got to keep in mind that most cash out refis or HELOCS will only give you 75% of the equity you have and you have pay closing fees, so this definitely would not work in this case. You should keep saving and try to use that FHA at 3.5% down to move on to the next one once you have some cash. Keep in mind that PMI never goes away with FHAs anymore, so they're not really the best loan for rentals.

But the PMI goes away if you refinance to a traditional.

Post: First Flip South Jersey(Sicklerville)

Jon B.Posted
  • Maspeth, NY
  • Posts 75
  • Votes 62

Looks good so far!

@Chris K. Hi Chris, I see that you're located in WB. I'm familiar with the area as I lived a hour south in Monroe county. I have been looking at SFH online, but am having trouble in finding property tax data online. I've checked the Luzerne county website and unable to find it. Know of anywhere to look??

Post: Rental #1 Purchased Today

Jon B.Posted
  • Maspeth, NY
  • Posts 75
  • Votes 62

@Simon Ghandil On a 'rent to own' deal like this where the property is $30k and rent is $975, I have a few questions...

How much would you cash flow a month?
How long is the lease terms?
How much would the tenant be purchasing the home from you?
How much of the $975 rent goes towards their down payment?

I remember a podcast where a guest was someone who did "rent to own" deals... Podscast 185 to be precise... It always interested me but seems like finding a suitable tenant/future owner is hard to come across.  

https://www.biggerpockets.com/renewsblog/2016/07/2...

Post: First investment opportunity in Baltimore

Jon B.Posted
  • Maspeth, NY
  • Posts 75
  • Votes 62

Looking at the pictures on the listing, I see some plumbing concerns...