All Forum Posts by: Jordan R.

@Jason Wray

Thanks Jason - current rate in primary is 4.125% but I can’t do a cash out since it is a “co-op”.

Hi all!

I’d purchased a townhome as an investment back in May for 150k (3.375%). I spent about 20K fixing it up, and got a tenant in paying 2.2k/mo. Property is current CF positive at just over 1K/mo.

I had thought about doing a cash out refi, and started up the process. Property came in appraised at 195k, and so I can pull out 32K at a 3.625 interest rate, but this pushed up my P&I from 494 to 666.

I’m waffling a bit here…initially I wanted to be opportunistic and take advantage of the environment etc. but I’m not sure I want to buy another property right now, and wondering if maybe it was a mistake to pursue the refi?

I also carry quite a bit of leverage across my two investment properties (280k) and my primary (230k - but might sell this within a year and get a nice gain)

Would welcome the community’s thoughts! Thank you!

Hey All,

Hope everyone is doing well! Last December I bought a two-unit house for $240k. It generates about $960/month above mortgage and escrow costs. This was my first foray into the real estate market.

I think I was a little too optimistic with this house, it’s old, I had gotten it down from initial asking of $280. But it needs a fair amount of work (not necessarily now) but likely over time.) the biggest ticket items are likely to be electrical and eventually the boilers.

I’m trying to figure out at what point should I save myself the hassle and sell? If I do, I will likely take a hit. Or should I hang in and hope nothing goes too wrong?

My second foray into real estate is going better (a townhouse that cost almost 100 less but is generating $1k per month).

Thanks for your thoughts all!

-J

Hey Community,

Last month I closed on my first investment property, a two unit house, with a cap rate of 9.2%.

I recently stumbled across a a single family with an attractive cap rate and cash on cash return (9.3% and 20% respectively). I have arranged financing in the event I want to pull the trigger (20% down). But I would need to sell few stocks to cover the down payment.

My question is ~ is it “too soon” to even be thinking about it? Am I rushing into things?

Thanks all for your perspective and input.