All Forum Posts by: Lindsay Conway

So wondering what the best way is to use my cash and lines of credit and Mortgage?

Currently, I have 4 properties. I started out using my cash and I'm questioning if that was the right decision. So i bought a duplex all cash for $16,000 and about $5,000 in repairs. I never got the money back from that as far as a line of credit from investment property, which i believe i can.

I bought my 2nd property (all cash) at $27,500, and I had a bank let me use that was primary residence and got back a $75,000 line of credit, which I just used $36,000 of that on my 3rd property purchase.

I now have $45,000 left in cash and $36,000 left on our line of credit.

When buying property what is best way to use cash and use lines of credit or mortgage? Any advice would be very helpful. Thanks

P.S also have $20,000 in ROTH IRA

So wondering what the best way is to use my cash and lines of credit and Mortgage?

Currently, I have 4 properties. I started out using my cash and I'm questioning if that was the right decision. So i bought a duplex all cash for $16,000 and about $5,000 in repairs. I never got the money back from that as far as a line of credit from investment property, which i believe i can.

I bought my 2nd property (all cash) at $27,500, and I had a bank let me use that was primary residence and got back a $75,000 line of credit, which I just used $36,000 of that on my 3rd property purchase.

I now have $45,000 left in cash and $36,000 left on our line of credit.

When buying property what is best way to use cash and use lines of credit or mortgage? Any advice would be very helpful. Thanks

P.S also have $20,000 in ROTH IRA

thanks for the response,yes the properties are worth alot more then i payed for them. I have a signed lease for the one side i just had a tenant move out of other.Fixing up and will be put on market again here soon. When you say ask for a loan against the asset? Like a line of credit against my investment properties? yes #3 has a signed 3 month lease for $2500 a month right which was just signed friday. Then once lease is up should rent between $1200 to $1400 a month. Thanks very much for your help.

So wondering what the best way is to use my cash and lines of credit and Mortgage?

Currently, I have 4 properties. I started out using my cash and I'm questioning if that was the right decision. So i bought a duplex all cash for $16,000 and about $5,000 in repairs. I never got the money back from that as far as a line of credit from investment property, which i believe i can.

I bought my 2nd property (all cash) at $27,500, and I had a bank let me use that was primary residence and got back a $75,000 line of credit, which I just used $36,000 of that on my 3rd property purchase.

I now have $45,000 left in cash and $36,000 left on our line of credit.

When buying property what is best way to use cash and use lines of credit or mortgage? Any advice would be very helpful. Thanks 

P.S also have $20,000 in ROTH IRA

also have 20,000 in ROTH IRA IF MATTERS

So wondering what the best way is to use my cash and lines of credit and Mortgage? 

Currently, I have 4 properties. I started out using my cash and I'm questioning if that was the right decision. So i bought a duplex all cash for $16,000 and about $5,000 in repairs. I never got the money back from that as far as a line of credit from investment property, which i believe i can. 

 I bought my 2nd property (all cash)  at $27,500, and I had a bank let me use that was primary residence and got back a $75,000 line of credit, which I just used $36,000 of that on my 3rd property purchase. 

I now have $45,000 left in cash and $36,000 left on our line of credit. 

When buying property what is best way to use cash and use lines of credit or mortgage? Any advice would be very helpful. Thanks

@charlesayanleke Thank you so much for responding! You're absolutely right.

The neighborhood seems great and we still have to find out what the mortgage payment would be, should we go through with it. I will need to find out more info and then comment again.

Thank you!!

bump.

So my husband and I have the opportunity to buy our first BIG RE purchase. Want to see what you guys think.

-9 unit apartment building w/large storage shed and office

-Appraised on county website for $145,000 back in 2003

-Could easily rent each apartment for $500/month, bringing cash flow to $4500/month

-Purchase price would be $175,000

We would leverage 2 of our other rentals as collateral for the down payment and get a commercial mortgage on it. The apartment building is in a super desirable area in our town and it's rare that they go up for sale.

What does everyone think?

Hey guys, just looking to see what everyone thinks about laminate flooring versus carpet.

Which would you go with?

900 sq ft house, 3 bed/1 bath, brick split entry.

Thanks!