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All Forum Posts by: Jim Stardust

Jim Stardust has started 6 posts and replied 114 times.

Post: How To Determine If Kitchen Needs New Cabinets Or Just Fix'em

Jim StardustPosted
  • Real Estate Investor
  • Cincinnati, OH
  • Posts 119
  • Votes 59

I don't know, would a buyer of a 100K house be so discerning to require granite countertops and SS appliances???

Post: Best Foreclosure Listing Site

Jim StardustPosted
  • Real Estate Investor
  • Cincinnati, OH
  • Posts 119
  • Votes 59

I don't know about all of you, but there are some sites that can be very useful:

http://www.realtytrac.com/home/ is an excellent site for all things foreclosures.

You can also go to Government sites such HUD or Fannie Mae specific sites http://www.hudhomestore.com/HudHome/Index.aspx or http://www.homepath.com

Post: Use of Va loan or Fha loan

Jim StardustPosted
  • Real Estate Investor
  • Cincinnati, OH
  • Posts 119
  • Votes 59

I've used VA Loans, I assume you understand there's a Funding Fee for 2.15% (or higher) of the loan amount and depending on the value of the property, it might be the difference between choosing a VA loan and an FHA loan assuming you qualify for both.

http://www.benefits.va.gov/homeloans/lp.asp

Post: Financing a rental with 15 or 30 yr mtg?

Jim StardustPosted
  • Real Estate Investor
  • Cincinnati, OH
  • Posts 119
  • Votes 59

It's my first rental property, can afford both 15 yr and 30 yr (with the appropriate down payment) financing. At 15 yr, I anticipate the property will be slightly cash-flow positive, with 30 yr, there's a lot more cash flow obviously. The property is around 200k and I don't anticipate there will be a lot of appreciation in the near future (3-5 years - the time frame I anticipate holding it). The money will otherwise be sitting in a money market account...