All Forum Posts by: Ryan Trexler

We are in the early stages of building a new home and are exploring the option of renting our current home.

We are considering a cash-out refi to utilize the cash to put towards a small renovation of our current home and down payment towards our new home.

Any thoughts on strategy here?

@Nicole Heasley

Thank you Nicole. I started to reach out to some lenders.

@Jerome S.

Thank you Jerome. I’m going to send you a PM.

Hello BP,

My wife and I have about 80K of equity in our home. We are also looking to upgrade but would like to keep the current home as a potential rental. 

What is the best way to take the 80K of equity and put it towards the purchase of a new home? Would you also refinance the current home?

Thanks,

Ryan

@Michael Doherty

Thanks Michael. I definitely want more information. Are you refinancing with the same lender after the renovation?

Does anyone know the rules to buying a pre-foreclosure? Can you reach out to the home owner to gauge interest? Should this be done by your Agent?

Thanks,

Ryan

@Chris Mason

Is it better/cheaper to borrow against a 401k?

Can you finance a 4-plex with an FHA?

@Jaysen Medhurst Thanks Jaysen. I’m going to look around form lower down payment solutions.

I’m in the early stages of purchasing an investment property and am evaluating my financing options. I currently own a single family home and do not want to owner-occupy a multi family.

I spoke with a loan officer who said that I need to put 25% down on an investment property to get financing. Is this accurate?

I’m doing my research but thought this would be a good place to get answers and suggestions.

Thanks

@Carl Fischer

Thank you. I am digging into the list of providers now. Once I digest the information, I’d like to pick your brain.