All Forum Posts by: Matt Oldsey

@Upen Patel. Thank you, will explore that option. This jives with some casual advise I received from my Merrill Lynch wealth advisor. He stipulated that it wasn’t an area of expertise, referred me to a BOA lender.

@Thomas S. Maybe my math is poor. My all-in nut to maintain the property is <1500.00. Rents in my neighborhood (I live in Philadelphia) are fetching 2500.00. My next door neighbor, exact Same home on the row, gets 2700.00. If i refi or heloc and my fixed cost increases 300.00 per month, I’m still clearing 700.00 per month. What am I missing? Please point me in right direction if I’m making a big gaffe.

@Matt Oldsey Recent comps settled in 425 - 450 range (6 months)

I am intending to rent what is now my primary residence and buy a new home. Question is: should we execute cash-out refi AHEAD of renter signing lease or AFTER? We will need some $ from equity to close on next home. For whatever reason, market for home sales are soft in our neighborhood, but rent is pretty firm. Rent- 2500 Current mortgage balance 275k @ 4.25 Current monthly cost PITI - 1425