All Forum Posts by: Levi Klein

i will have between 125 and 150k after taxes. My mortgage is 3.75% my HELOC is 4.49% variable but it wont touch the 10% private money charges plus 3%fee. Plus I dont plan to pull from it without an investment to buy.

Im finishing up a flip and will have 150k after its sold. should i put this money toward my primary residence mortgage and eliminate 18yrs interest essentially doubling my money? i see this being similar to Brrrr. My wife will not let me sell and move so this is our "forever home" i would immediately up my HELOC to 230k from 80k to have these funds available within 60days for other investments. conventional financing methods are not available to me because of a foreclosure and my HELOC is cheaper than private money. This seems to make a lot of sense to me. I've pretty much made my mind up to do this but would love to see a better use of my dollars if any one has an idea. Any input would br great! thanks BP

Im finishing up a flip and will have 150k after its sold. should i put this money toward my primary residence mortgage and eliminate 18yrs interest essentially doubling my money? i see this being similar to Brrrr. My wife will not let me sell and move so this is our "forever home" i would immediately up my HELOC to 230k from 80k to have these funds available within 60days for other investments. conventional financing methods are not available to me because of a foreclosure and my HELOC is cheaper than private money. This seems to make a lot of sense to me. I've pretty much made my mind up to do this but would love to see a better use of my dollars if any one has an idea. Any input would br great! thanks BP

i didn't read the whole thread so i hope I'm not repeating. honor what ever you told your family member would be happening with their money. zero interest ten treat loans only happen once in a lifetime. If they are ok with you investing and you buy a profitable investment them i woyld say refi ASAP pay them back early and with a solid return on their money. you will have a backer for life if you make a smart choice and reward their generosity, plus you have a huge leg up that a lot of folks would kill for.

i agree with Dalton. private money lenders will have no problem giving a loan on a property where the numbers make sense. you have a down which they will want. if you could get a private money lender to finance you for 2 years there is a chance you could count rents as income for traditional financing on your refi in 2 years. good luck