All Forum Posts by: Lucas S.

Good luck. It's gonna be tough to get those numbers in a market like we have right now, but doesn't mean it can't be done :)

Sounds (and looks) like a good time. Congrats on your successes.

This is crazy. I remember looking at this exact property. I passed because there was just so much work that needed to be done. I'm glad it's working for you!

Hi all, looking to build up my network of sellers in the Houston area. If you work within Houston or surrounding communities (preferably west Houston/Katy) I'd love to hear from you. Drop me a private message.

Depends. Refinancing has its own costs. 

Figure out what you'd pay per month compared to how much you're paying now. Let's say you can refinance from 1200 a month to 1000 a month.

If it costs you 2k to refinance, then you would need to wait 2000 / 200 = 10 months before you start saving any money. Is that worth it to you?

This is a super simplistic version that doesn't take into account time value of money (what it would make if that 2k was invested instead of used in refinancing), or different interest rates, or time spent finding a bank to refinance with or... well, you get the point. 

Here is a decent calculator:  http://www.bankrate.com/finance/mortgages/when-to-refinance-your-mortgage-1.aspx

Commenting so I can save this, as I'm in the same situation. I've had an FHA loan for about 4 months now, and the PMI is driving me crazy.

Welcome aboard :)

I also think its just timing. Summer's here, so way more properties coming on the market now. I don't think it's a big slowdown. Properties around me are still going as fast as ever.

It depends on which county, but yeah, 2.5% at minimum. Some counties with really good schools will be higher.

And it won't be of the purchased price, but the assessed value.

You posted it an hour ago. Relax.