All Forum Posts by: Scott Beebe

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Hi all,

Need some quick advice here. I own my primary residence free and clear here in AZ. I have recently bought a rental property in FL which has an investment mortgage. The rental property has tenant in place until January 2018. After their lease expires, I plan on moving to FL and using the property as my primary residence and then refi the mortgage as owner occupied.

Question: Should I sale my AZ property and use the funds to buy another rental property in FL or payoff the mortgage on the FL property? Or keep the AZ property and rent it out? PM services would be needed for the AZ property if rented.

Here are the numbers:

FL mortgage balance: 68K

FL rent if new property is purchased: $700 profit after all expenses

AZ possible rent: $520 profit after all expenses

AZ cash out if sold: 62K

Thanks in advance,

Scott

Here are the numbers:

FL mortgage balance: 68K

FL rent if new property is purchased: $700 profit after all expenses

AZ possible rent: $520 profit after all expenses

AZ cash out if sold: 62K

Hi all,

Need some quick advice here. I own my primary residence free and clear here in AZ. I have recently bought a rental property in FL which has an investment mortgage. The rental property has tenant in place until January 2018. After their lease expires, I plan on moving to FL and using the property as my primary residence and then refi the mortgage as owner occupied.

Question: Should I sale my AZ property and use the funds to buy another rental property in FL or payoff the mortgage on the FL property? Or keep the AZ property and rent it out? PM services would be needed for the AZ property if rented.

Thanks in advance,

Scott

 great! i will email you.

Thank you Harjeet. The property I am looking is a single family home. You are able to do a 15% down investment loan on this property?

Does anyone know of any lenders offering 15% down investment property mortgage in FL?

Hi,

I'm in need of some advice. Not sure I should payoff my car or buy an investment property.Here are some details.

Car loan: $12000, 4.75%, 52 months, $240/month

$45K in savings. I own my home free and clear. The car loan is the only debt I have.

Looking at owner financed investment property. Monthly cash flow after expenses is $105. Terms of loan 15/30 balloon at 10%. $33K selling price.

Suggestions?