All Forum Posts by: Shari Layton-Ferreiro

We have two homes presently. One is a rental already where we received a years rent upfront. We have fabulous tenants in that property which we screened using cozy.co. Our home in New York has a partial rental income of 900.00 a month. My husband still travels back and forth to Florida and uses that house while he's on Long Island. We have a place in St. Pete that I currently live in full time where there is no mortgage. We are wondering if we should transfer the New York residence or incorporate it into our LLC that we have for the Florida rental property so that we can receive a larger line of credit to use as properties become available for purchase. We both also will be getting our real estate licenses in the next month. Thank you for any advice/suggestions.

We bought this house in 2016 and lived in it for 2.5 years paying down the mortgage and now we're renting it out for 2150 a month. The tenant is paying all utilities. Were cash flowing 500+ a month. I'm not clear on what you're saying. Please reiterate. Sorry...newbie here!

Lived in this current rental for 2.5  years and recently rented it out. Tenant paid entire year upfront (his employer paid for it as a relo for him and wife) and we gave a $2000 annual savings (150/month) We plan on taking the $25,800 and investing it on next property which will be a duplex, triplex, or quad. Currently looking. Our current interest rate is 5.25% on the property and we have about $100,000 in equity presently in that home. Should we refi and do a cash out for the next few properties we plan on buying. We are currently paying $1442 on the mortgage including property taxes. We both work full-time still at our professions and can afford to continue paying for that mortgage. Given that the interest rates are in the 3% range presently, is it worth it to get lower interest rate and cash out? First timers here. Thanks for your advice.