All Forum Posts by: Nneka Keshi

@Dan Schwartz hi Dan sorry let me clarify, I wanted to pull out only what I put in so for example I pull out just $25k bs $50k.  He said that I had to pull out the max allowed and then after I have locked the lower rate I just put the amount $25k back via recast so achieving what I wanted to do in the first place …. Does that make sense

Thank you for all the feedback the problem with the heloc is the equity doesn’t necessarily allow me to purchase anything in the market for cash and my understanding is Heloc are better for short term projects.  I plan to hold the new investment property for years.

my lender mentioned the option to recast the loan… appreciate thoughts on that

I am a buy and hold investor and have just been saving up my 25% down payment and purchasing. However it has become harder to find a good deal in this market. So I decided to look into refi to get a lower rate.

My properties have appreciated quite a bit and I now qualify to take out an amount that will amount to the cash I put in for 2 of my investment properties, however my monthly payment will go up on the one property but it will still cashflow just much lower maybe $150 cashflow.

So I am thinking should I pull the funds out and keep it ready to be able to buy a new property in case something comes up, taking the money out effectively makes my cash on cash infinity like the Brrrr strategy but downside is it will reduce my cashflow. Or do I keep my cashflow as is and just continue to save up the down payment which takes a while and may miss some deals because I don’t have the downpayment available.

appreciate the feedback

Hi BP!

First Post, I am a buy and hold investor and have just been saving up my 25% down payment and purchasing.  However it has become harder to find a good deal in this market.  So I decided to look into refi to get a lower rate.

My properties have appreciated quite a bit and I now qualify to take out an amount that will amount to the cash I put in for 2 of my investment properties, however my monthly payment will go up on the one property but it will still cashflow just much lower maybe $150 cashflow.

So I am thinking should I pull the funds out and keep it ready to be able to buy a new property in case something comes up, taking the money out effectively makes my cash on cash infinity like the Brrrr strategy but downside is it will reduce my cashflow.  Or do I keep my cashflow as is and just continue to save up the down payment which takes a while and may miss some deals because I don’t have the downpayment available.

appreciate the feedback

thanks!

@Michael Bocian Hi Michael, just bought an investment property there and my realtor was great.  He handled the purchase, renovation and secured tenants for me.  Very turn-key and I live outside the USA now, so he was a great resource for a distant investor like me.  

Hi name is Joe, send me a message for his contact details

Hi Jared,

Please can you share address, [email protected]

hi Todd, please can you put me on the mailing list for multifamily deals as well [email protected]

Hi Jason, please also add me to the distribution list [email protected]

do you have pictures?