All Forum Posts by: Matthew Mclean

Bought a house with an FHA loan, if I bought down the interest rate, do I need to wait longer for rates to drop and refinance than others that did not buy down the rate?

I am trying to find a tenant and one came to me with a housing voucher. She is trying to sign for a year where she pays 1/3rd of the rent and (the gov?) pays the other 2/3rds? Risks and rewards to this type of tenant?

I’m debating how much to put down for my first investment property. I’ve heard the adage that you should always put as little down as possible, but this is only because investors always figure they will find a smarter way to invest that money even if they pay more dollars in interest overall.   personally, I don’t plan to buy another property  or really invest that money for the next 3 years minimum anyways, so I believe I may as well put the money down to get a low mortgage and start cash flowing sooner. Those 3 years is more than enough time to earn enough to put 3.5% down when I’m really ready to start investing continuously. That’s what I’m thinking at least. Am I missing any benefits of smaller down payments?

I am considering buying my first property at around 700K, mortgage is around 4K, plan to rent half the duplex for 1600 and rent one room in my side for 800, leaving me about 1600-1800 per month. I plan to live there so I find a negative cash flow understandable to start. Rent is below market, which is about 2K, so theoretically, when I move out in a Year or two, the mortgage should be just about covered as I plan to increase rents. Vacancy rate is low and growth rate is high. Just a little worried about all of the numbers, but I imagine the house should pay for itself after 2-3 years or so. Overall thoughts? No financial advice, just thoughts.

Quote from @Jacob Sherman:

Hey Matt ! My name is Jacob with Lendbright and would love to answer any questions for you that you may have in the analysis of your project . Sometimes for example a couple hundred dollars a month negative cashflow for few years can turn into a 50k or 100k or however much of a rise in value it may be in an up and coming area . It all depends on the scenario . When is a good time for us to connect and discuss ?

I am considering buying my first property at around 700K, mortgage is around 4K, plan to rent half the duplex for 1600 and rent one room in my side for 800, leaving me about 16-1800 per month. I plan to live there so I find a negative cash flow understandable to start. Rent is below market, which is about 2K, so theoretically, when I move out in a. Year or two, the mortgage should be just about covered as I plan to increase rents. Vacancy rate is low and growth rate is high. Just a little worried about all of the numbers, but I imagine the house should pay for itself after 3 years or so. Overall thoughts? No financial advice, just thoughts.

Any financial forecast models, and minimums required to purchase a home as a good rate

Would you consider negative cash flow for a house that will appreciate and rents will increase?

Any information regarding annual rent increases, and if/how to increase rent from the start. How they generally go.