All Forum Posts by: Mike Willis

@Michael Conklin

Hello Michael,

Are you still investing in Ontario, OR today?

If so, hows it going?

Thanks,

Michael

@Brian Koch

Hello Brian. Hows your Ontario Oregon investing experience? I'm exploring the thought.

Thanks,

Michael

I have two rentals and contemplating on making a $10K towards the principle on each SFH and having the lender recast the loan. The recast is only $250 each property. Thoughts? I'm cash flowing $450 and $600 monthly, but was thinking about being risk adverse. (Also lowering my DTI ratio for when we buy house number 4). I understand I will be paying slightly more taxes on the cash flow, but is it a wise move?

Or...just apply these principal payments to my primary mortgage.

Thanks,

Michael 

@Jim Paulson

Jim,

When We buy house number 4 in the treasure valley, I'll reach out to you.

My last realtor didnt have the investor mindset...only betting on appreciation.

@Jim Paulson

Interesting Jim on lending to a LLC. I wonder if it could be a new LLC?

Michael Willis

Meridian, ID

We're closing on our first rental next week and going to challenge ourselves by being the property manager.

We're going to have the tenant pay thier own water, sewer & trash.

What's your experience with the tentents being responsible for it?

@Matthew McNeil

Yes. 25%. We choose to put more down to lower pymt just incase the market decided to turn. And dropped the closing costs from $5k to $2k. It was more than what we wanted to spend on the down pymt, but we were thinking long term.

@Matthew McNeil

We just bought a 4 bd 2 ba for $242,000 in Meridian and hoping to cashflow $385 a month. This SFH should rent for $1,400 if not $1,450. It's tough to find a super good deal. But, this is out first rental.... and my wife and I just wanted to get started.

We close next Thursday...