All Forum Posts by: Matthew Geiger

I'm going to speak to her today.  I was trying to re-read the contract and get some advice before I did that

I read though the agreement and it looks like it runs for one year and a 120 day protected period.  I was concerned I would be responisble for full 6% commision if I pulled it off.  I couldn't find any withdraw proivisions.

I have an exclusive seller brokerage agreement and the house has beebn on the market for 120 days.  I am thinking about pulling it from the market and converting it to a LTR.  What fees should I be responsible for paying the listing agent or should I have the agent act as my leasing agent?

I am in Acworth as well,  I have made some offers but do not own any investment properties yet.  

@Randy Bloch @Jon Kelly I wasn't clear about the LTV. I'm not taking out any equity of the house yet I was pointing out that the house is worth 525k and I will owe 250k. I planned to do a Heloc after the refinance to be able to take out what I need to purchase properties and pay back once I do an LTV on the properties I purchase and just keep using the HELOC if needed.

Regarding why I am not just paying the minimum of the new loan.  I wanted to keep paying the higher amount to reduce the interest expense over time and pay it off faster.  Maybe this is my old way of thinking but also wanted to be able to reduce the amount I pay if I had a property that needed me to cover expenses during a vacancy or repair that wasn't accounted for.  

If the ARM increases only slightly year 7 I would probably just keep making payments on it. I haven't purchased my first property yet so my outlook will probably change.

Hi,

I am just getting started and wanted to free up money to be more flexible. My current home has LTV of about 50% and I am on a conventional 30 year at 3.5%. I've been paying Bi weekly payment and will continue to pay the same amount and bi-weekly. I am refinancing a 7/6 Arm at 1.99%. My plan is to not change the payment amount and just take advantage of the interest rate. At the end of 7 years I'll owe in the high 150s and I will either pay off then if the rates are moving significantly. I'll also be paying a chunk of the old escrow balance once refi is complete. Does this sound like I am covering everything here or am I making a poor choice?