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I have a question that I believe can be answered more easily than the way I am going about it.

In the case where someone takes out a loan and then decides to refinance at a lower interest rate later, I am trying to figure the break point where it makes since to do so. For example, if some took out a loan at 8 percent for 15 years and then maybe a few years later can get that loan refinanced at 6 percent (which will extend the period of the loan, as it will start back to 15 years again) how does one determine where it is too late to feasibly make this transition considering that the one is getting a lower interest rate, but extending the period of the loan at the same time. Is there some formula or some guide to determine this?

Thank you,
Robert12

Josh, I am sure there are a lot of people like myself who may not post frequently, but do read the posts regularly--keeping your server very busy. I admit to chasing around MikeOH posts almost daily to see what he has to say to the next newbie. BiggerPockets is a GREAT site and I have learned a lot from from the forum. I understand the hiccups that occur on the technology side, when a site is growing like this one.

Hope you have destressed and things continue to run smoothly.

Robert

Hi All Cash, I recently purchased a home in Ashland, Oregon about 13 miles from Medford. PM me if you have more questions about the area.

Robert12

In California and Oregon you can sure get a hold of meeting minutes. Also, I considered moving to Las Campanas New Mexico, and they were VERY forthright with supplying me with CC&R's and minutes. In many ways, I find the minutes as critical or more than the CC&R's. You can also request to go to a HOA meeting previous to buying--i've done that too. Talking to the locals may also give you an insight into the HOA. Some do seem to be headed by those who think they were knighted into the position and enjoy making it difficult for residents. Don't get me started.

in any case, give it a try. Ask your realtor to obtain them for you. The HOA's cooperation to your request could tell you a lot about the personality of their organization.

Robert

Rai, I can't tell you much about investment in Florida, but the one thing that I do in any HOA that I consider buying into is that along with the CC&R's, I ask for copies of several months of their meeting minutes. It gives me an insight to what is really going on inside the HOA. It has alerted me in the past to lawsuits in progress and upcoming assessments. It also gave me a feel for the personality of people already in the association.

Robert

On a recent installment of Flip this House, Montelongo left his rotweiler
in the house he was flipping at nighttime--bad area thought someone would mess with the place. One suggestion--TELL THE CONTRACTORS. Poor guys showed up in the morning--opened the door and :eyes: Thankfully, they were able to shut it before becoming breakfast. Of course, that probably wouldn't have helped you Josh. May have been useful against people stealing the pipes and such.

Hope all works out ok with your A/C units.

:badwords:

Robert

Very good point Mike. Because the 50 percent comes from histrorical data on rentals, it was probably researched on properties overtime, which in turn most likely researched the survivors. See a simple question isn't so simple.

Thank you Mwarden and Mike. I learn a lot on this forum and your replies are extremely useful.

Robert

Thanks for the explanation MWarden. I believe a background in statistics is showing through in your reply. It really cleared things up. Will look into the The Logic of Failure.

Thanks,
Robert

MWarden you make an interesting point. It is often said on this forum that person needs to calculate 45 to 50 percent of monthly gross rents for operating expenses. I assume that is if they bought correctly. For example, if I bought a 200,000 home and rented it for 1,000 a month, whereas, I really should be getting $2,500 a month or more, should I be calculating my operating expenses at $1,250 a month plus?

Thanks,
Robert

You must be talking about Brinker's Marketimer newletter--I get it too. A couple of friends joined in and we divide the cost and pay about $60 a year each. WELL WORTH IT!!

Robert12 :rock: