All Forum Posts by: Mark Smith

I'm wondering what it would cost to put in the wifi for them. Without wifi, no Nest. But I really love the idea of the Nest so I'd love to do it.

I am really interested in the Nest thermostat for my two unit property as I pay the heat, however the property does not have wifi so I wouldn't be able to access it from my phone. Is it worth it to get some sort of wifi installed so I can check in on/control the heat?

Thank you @David Dachtera, this is the route I think I will end up taking.  I have actually considered flipping, but for the purpose of having cash for down payments.  I suppose this works into your idea of acquiring more income producing assets.  Flipping is definitely an option I am considering.

Thank you for your input @Bryan O.!  I am making improvements to the property, especially in the unit that is currently vacant, but not enough to force the appreciation that much!  I suppose if I can't reduce my monthly expenses the only other thing to do is increase my monthly income!  I guess I'll just have to get creative with purchasing strategies.

Yes, I do realize that I'll probably need 20% equity, but I figured it couldn't hurt to ask the BP community. I guess I was really just looking for guidance. For example, "You should work on paying down the loan 20% then you can get rid of PMI and have a better chance of refinancing for the amount you are looking for." In reality I probably already know the answer to my question, but there seem to be a lot of other clever tactics in real estate, so I was hoping there was something here I just didn't know about.

My overall goal is to reduce my personal debt (student loans of approx $65k, a small amount of credit card debt of <$5k, and a small personal loan of <$2k) as this would increase my monthly cash flow, which will allow me to invest at a faster rate. And of course if I could get rid of that PMI, that's more money in my pocket every month too.

Precisely.  I want to lower my monthly student loan payment for the sake of increasing my monthly cash flow.

Hello all,

I'm just looking to develop a game plan at this point, so this question is not something I am trying to act on right now.

I recently purchased my first property using an FHA loan. I am interested in refinancing for the purpose of getting rid of PMI, and ideally I would like to pay off my student loans (approximately $65k). I am new to the mortgage world, so maybe you are reading this, laughing, and thinking that this is impossible. Let me know your thoughts :)

@Larry Delarosa good luck and stick with it. The first one is definitely exciting and rewarding, and I've only just closed. There is a lot more to come. I really think REI can do incredible things. Never stop learning!

Thank you @Alexander Lang and @Lisa Johnson.  @Ben Leybovich, I've listened to so many podcasts that you have been a part of!  It's an honor to have you comment on my post, sir.

Thank you @Tamara Elliott-Deering!