All Forum Posts by: Carolyn L.

@Rachel Trimble - I just came across your post here, and see there are no responses to your question.  Most likely because you didn't @mention anyone specifically, and/or it is not relevant to the OP's question.  Hopefully, you've found a solution to the situation you outlined by now, but if not, I encourage you to re-post it in the form of a new forum question with a relevant headline to get the appropriate response from those who can assist you.  Best to you!

@Levi T.

you can try these resources:

Corelogic market reports rental trends

RentJungle - Rent trends research tab
Lists rent trends going back to 2009 for major MSA's with some interesting rent comparison tools.  I can't attest to the accuracy of their data, so you'd have to do your own due diligence.

Rent Range - view historic rents for past 12 months

Hope this helps - I'd be curious to know the results of your specific research and conclusion of accuracy.

@Kim Handelman  Public records for the City of West Haven show these documents: (sent you instructions via email, as well)

First mortgage note:
Sale: $79,000;  Loan date: 5/10/06.  Initial loan: $67,500 ($11,500 down payment - approx 14%)
2 Year ARM, amortized 30 years, initial rate: 8.360%
First rate adjustment: 5/15/08 - no greater than 11.36%; no less than 8.360%
Rate changes every 6 months thereafter.

Second mortgage / refinance:  Date: 6/3/08. Total loan: $80,250, amortized 30 year. Interest rate isn't shown on this mortgage document, so not sure where else to find it other than the payment coupon. The lender on record is bankrupt.

Mortgage Release: Date: 6/23/08. Payoff first mortgage $67,500; debt rolled into new loan.

You can use any amortization calculator to get a general idea.  I used one at Bankrate.com and with an estimated 6.8% rate based only on historic rates for that period found here: HSH Historical Mortgage Rates

For the second loan of $80,250 amortized over 30 years, this shows an approximate loan balance of $71k today.  All property taxes are current, as well.

Bankrate amortization $80,250 30 years at 6.8%

I always start my initial search on Realtytrac.com to find the original loan and sale date - they're usually pretty accurate.  You must be a paid subscriber to have access to this.  Once I find it there, I cross check with city or county public records and property tax records.

Hope this helps!

@Marty Gangler - Perhaps @Steven Hamilton II can weigh in on this? 

Very nice work Hugh!  I'm actively looking for fix/flips in Round Rock and would love to see your next rehab in progress. 

@Clair Robinson Welcome to BP!  My husband and I visit Charleston and Hilton Head area annually, and have plans to eventually relocate in the next few years.  Perhaps we can connect during our next visit.  We'd love to partner with a local team on a future project!

I'll send you a PM.

Wish you all success!

@Halley Foulds Welcome to BP!  You'll find many excellent and well-established Meetup groups in Austin, and a few newer groups forming in Round Rock and Georgetown as @Bill Crider mentioned.

@Katie Reborchick - a few links to some great Meetups below.  Once you search the Meetup site, you'll find extended groups that are a variation of these.

Round Rock Meetup

Austin - Big Daddy's Meetup

Austin RENC - Phil and Shenoah Grove's Group

@Steven Hamilton II - I guess the Roth 401K was a bad example - my mistake.  Would you (or others )then recommend a non-Roth 401K for the loan options as part of an overall strategy to shelter income tax in the short term?

Meant to include @Brandon Hall in my above post!  Sorry Brandon!

@Bill Walston @Steven Hamilton II @Denise Evans - sorry to chime in here with a question so late - I see this post still has some life!   Is it possible to use a Roth SD401k in this scenario, assuming @KJ D'Costa  business entity qualifies - to contribute the maximum of the flipping income, and then access those funds via the 401k loan option?  Understanding that the objective is to utilize the funds to purchase additional income properties, is this a viable option?

Thanks!