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All Forum Posts by: Michael Mathis

Michael Mathis has started 2 posts and replied 3 times.

Post: Rentail investment property

Michael MathisPosted
  • Silsbee, TX
  • Posts 3
  • Votes 0

Yes,  that's correct. My partner and I actually were thinking that a bank will more than likely want to see monew in the bank from rental income vs using it to pay down that same mortgage to leverage for refinance. 

Post: Rentail investment property

Michael MathisPosted
  • Silsbee, TX
  • Posts 3
  • Votes 0

Should I apply rental income against the investment property and then leverage/refinance, when the time comes, and use the money to put as a down payment on the next property or save the rental income in an account and leverage the property and use the saved cash? 

There really isn't a difference monetarily, just curious which way is better or possibly looks better to a bank. I figure they like seeing cash on hand, but if you apply income to mortgage -tax difference or change in taxes perhaps? 

Thoughts? 

Post: New member from from southeast Texas

Michael MathisPosted
  • Silsbee, TX
  • Posts 3
  • Votes 0

Just wanting to learn the ropes of flipping houses and real estate investing.