All Forum Posts by: Molly Plude

@John Morgan I appreciate the real life example. That's very motivating to hear. I did bought my 2nd rental with HELOC. Now, I'm more confident which way I'll take. Thanks again!

@Joe Villeneuve yeah I was thinking about buying more property, but the number doesn't make sense right now. We like the leverage but don't want to over leveraged that's why the thought of paying off some properties off come in mind. 

@Devin Peterson thank you for the input, we do have HELOC as well just in case.

Hello, everyone!

I'm having a delima here. Just a little background, we are big on long term and big on passive income. It's very hard to find good deal now a day. While waiting, we are thinking if we should do cash out refi on our primary home to pay off the two rentals since we have so much equity in our primary. Here's the math, if we do cash out refi on our home, the payment would goes up $700 more than what we are currently paying and of course the year term loan goes from 7yrs to 30yrs. The upside, we will be loan free and clear on both rentals and cashflow for both would bring in $1950/month. Of course these two rentals have very good interest rates, but if we want to invest right now, we won't even break even. So should we or shouldn't we not and why? In addition, what will happen to the tax write off since both properties are paid off? 

Hello guys, does anyone here use high cash value whole life insurance for infinite banking? And what's your experience? 

@Reggies, yes I want to use it toward investment. Is it better to do HELOC?

Hello BP family!

I'm really confused about refinancing on a home. I'm thinking to refinancing my primary home to take some cash out and lower the interest rate. So here's the deal, the house is worth $450k and currently balance of a loan is $330,554 and bought with interest rate of 4.375. If I refinancing now I'll  get cash out around $24k with interest rate of 3.99 at 30yrs loan. What got me curious and not understand is why my new loan balance goes up at $360k when the value of the house worth more than before. Shouldn't I be able to take out the difference between the current value of the house and current balance of the loan? Please enlight me with your knowledge.

@Nicholas, it's in Jax, FL. It was appraised at 115k. Got it for 110k, not that much but just wondering if it's worth it to take out the cash so I can invest in more property

@Jake thanks, I'll find more on Tuesday.

Hey all

My question is how soon can I refinance on property that I just bought a month ago? My purpose of that is to pull out the money and reinvest on more property since all the requirement on investment property is 20% down. Or anyone have a better suggestion of how to get finance? All reply are greatly appreciate it!