All Forum Posts by: Melina Victoria W.

@Steven E. Thanks!!

@Steven E.did you end up finding anyone?

How long do I need to rent out my townhouse in California before I can use it in a 1031 exchange?

@AJ H. This is what I think I’m going to do! Thank you!

@Derek Dombeck this upcoming August will be two years I’ve lived in it but I’m not sure how I can sell it tax free? I’m really open to renting it out but I’m not sure if selling it is a great idea because it’s in a recession proof neighborhood called Encinitas, CA and I think my home value will go up a lot in the future, thanks so much for your advice I will checkout the website!

@Melina Bonnen the home is paid in full. I have no debts.

I’m sitting on a home I inherited thats worth $609k and I’m looking for an investment property in Montgomery, Alabama. If you were me, what would your first step be? Keep in mind my income right now is only 40k a year and my credit score is 735.

Should I buy my investment property in full with equity against my home (thats paid in full) or take out a mortgage on the investment property? Im worried about my credit being ran too many times or being rejected. When im ready to buy another property im thinking i can take out equity against my investment property that would be paid in full. Thanks

@Daniel Kim How bad would my credit score hurt if I took out 100k against my home? My credit score is 735 and my home value is 609k paid in full. I also would like to know what you would do in my situation? Would you take out a mortgage on your rental property and continue to takeout mortgages on different properties OR pay the rental in full and use the tenants rent to pay off your HELOC faster? Im new to this. Im really worried about my credit being run so many times by different mortgage companies then being rejected, i just want to make the best choice possible