All Forum Posts by: Kelly R.

Hi Ashton, Thank you for your help. I can use a home equity line of credit as well I found out, besides cash. I know the fha has occupancy rules and because of my job I may not be able to transfer for up to a year to where the house is located so I'm just seeing what options are on that. 

I am looking to purchase a house. It is $255,000. the amount the sellers owe left is assumable fha loan and is $186000 at 2.875% . I would have to come up with the rest in cash. Would I be able to rent the house out after I own it a year. I've heard different things about fha loans, and I wasn't sure is they allow you to rent it out or not and if so what time frame you need to own it before being able to rent it out? thanks for any advice on this, kelly

I was wanting some feedback, if its worth it to take 40000 equity out of my house for a future second house purchase before rates go up? I owe 83000 left with 13yrs left on the 15 yr loan at 2.75 % i have now, house is worth 165000. If i get a 30 year loan for 130,000 at 3.99% , that will give

me 40,000 cash back?

If you have a rental house you want to sell, while its a sellers market and it needs fixing up, is it better to sell it to an investor and skip the realtor fee , and repair cost , and instead get a lower profit to move the property quickly

Thanks for the advice Ned, I appreciate it.

I asked this question before but since then the interest rate has dropped a lot more. I have 22 yrs left on a 30yr mortgage and owe 85000 , at a 4 percent fixed rate. Is it worth it to refi to a 15 yr fixed at 2.75 percent, with 5,000 in closing costs, or simply pay an extra principal payment instead and avoid the closing costs? 

I have a primary property and a rent house. Is it necessary to plan the annual termite inspection plans or can I drop them?

I plan on keeping the properties for a long time. Thanks Kelly 

Thank you Whitney and Curt for you imput . I really appreicate it. I'm 55 but I still would like very much to own more real estate. I think the interest rate is incredible and I don't mind owning properties with mortgages  in retirement as long as they are making cash flow. I will hold off on refinancing . Thanks again, Kelly

I have two properties my primary worth 135000 and i owe 86500 . My second property is a rental , rented steadily , I owe 46500. Its worth 72,000. I have a equity line of credit of 50000 open to use. Would it be worth it to pay off the rent house with the line of credit, and then refinance with a 15 year loan and have just one mortgage?

I am interested in buying some rental properties in Waco Texas. Mostly small homes two to three bedrooms , that need cosmetic fixes. Has anyone found success investing in this area? Kelly