All Forum Posts by: Michael Steele

Thank you all for your input. I will continue to try and show the benefits of a refi to my partner. Hopefully he will eventually see the advantages as time goes on. If not I will adjust my plans and continue this real estate journey. I'm convinced it's the best way to create a better life for my family. Thank you again for your support!

Nate, thank you so much for responding. That was what I was afraid of but I understand the reasoning. I really appreciate you taking the time to explain. It's great to have helpful professional people such as yourself to ask these questions to.Thanks again!

Hello BP members. Looking for some guidance. I recently purchased a rental property with a partner 50/50. I would like to refinance but my partner wants to continue buying property out of pocket. Is it possible for me to refinance my half of the property so I can get my money back out to purchase another? It is currently stable with a tenant and should appraise for much more than we have into it. Any input would be greatly appreciated. Thank you!

G and M Properties is a very professional property management company in rochester ny. 

 Thank you very much for your response Ben. I appreciate the time and thought. I will research a little more before we decide what to do. 

Hello all. My significant other and I are newbie investors. Over the last 2 years we've flipped a couple houses and managed to save enough to purchase our first rental with cash. Each of us has about half in our own accounts. My question is how do we combine both without penalty. We are not married so I wasn't sure if we are allowed to just transfer a large sum. Also we do have an llc we started assuming we would eventually need one so is it safer to put it in the company. Only problem with that is if I want to refinance it sounds like it may be difficult if the property is in an entity. Any advice is greatly appreciated and I hope be able to help some of you in the future as I continue on this journey. Thank you!