All Forum Posts by: Pete Tarin

Hi Chris thank you for replying to my post and the information 

How does one go about assuming someone's mortgage with a better interest rate when purchasing a property?

Quote from @Nicholas L.:

@Deal H.

with a successful BRRRR there isn't much, or any, cash flow either. you're trying to increase the ARV as much as you can and then refinance and with rates high, you'll probably be at break even or even negative.

and it's very risky to use 100% leverage. it seems like that HELOC is free money, but it's not. you have to calculate the interest costs.

and.... it makes zero sense whatsoever to buy something turnkey with that much leverage. none. you'll never, ever pay back the HELOC with the non-existent 'cash flow' from the property.

just trying to be realistic. the market is unforgiving right now.

would there be any tax benefits for loss of income on property to offset high w2 earnings? also is there a higher likelihood that this type of property would appreciate faster allowing you take advantage of the eaquity?

Jason

Thank you so much for answering my question. That is really helpful information.

As a person who is new to Real Estate and Real Estate investing, is it best to save up cash or do a cash out refi on your personal home to purchase a 2nd home (1st rental)?  

Is there a financial calculator to determine if doing a cash out refi makes financial sense with today's rates to use for down payment and or purchase property?

As a rookie, which would you do and why?

When researching rental properties for potential investment.  How does one determine the class?  Is there an option on Zillow or Realtor?

Quote from @Min Zhang:

Welcome to BiggerPockets Pete! Excited for you to grow here!

 Thank you Min

Quote from @Julio Gonzalez:

Welcome to BiggerPockets, Pete! 

 Thank you Julio

Good afternoon Bill

Thank you for all the information, links and suggestions. I appreciate you taking your time out of your day to respond to my post with all your suggestions and information.  I will be checking out each one

Thank you Andrew for taking time out to respond to my post and question. I appreciate the information and link .