All Forum Posts by: Todd Cianciulli

I currently own a rental home. It was once my primary residence and now a rental. It is on a 30yr @6.75% term. It is currently one year I to a 3 year term renting at the top of rental market. I have an opportunity to refi at around 4%. If i do balance 135000 refi with market value at about 155000 at 4% I could generate a 300 per month cash flow out if it. Currently it is a negative cash flow. Should I refi and keep it as a good rental or sell at my next opportunity?

Yep. It appears that I need to do something and get that W2 again.

I am not exactly a young kid so 8 -10 hours a day on a construction crew would probably kill me but I am pretty handy and can do most types of repairs myself. I also have frineds in construction to assist.

Thanks James - That is exactly my dilemma and why I came here to ask the original question (it digressed a bit from that). I was hoping for a magic solution. :-)

Thank you for the sound advice. Appreciated.

Sorry Rafael. Yes. I was asking you or anyone that can answer. I've always heard that because of the licensing requirements and disclosure rules that it made investing a little harder for real estate agents.

So do you see RE agents as having a disadvantage in the investing aspects?

I was going to look for distressed properties...do some rehab then hold/lease. The rehab and initial buy would be from hard money then refi with a conventional bank using my built-in equity as down payment. I would use cash for closing/holding costs.

I thought about real estate. I hear different things on it. Many say that if you are a RE professional there are many rules and such to follow which can create a negative power to invest. I do like the idea of it because I get some flexible time to do investing.

Portfolio loans would be fine if I had a portfolio. Its getting that portfolio started that is hard.

Hard money would likely be way too expensive to make any real positive cash flow.

I really do not want to partner up and use someone else s money/credit because that seems to take any ownership control out of my hands outside of the partnership agreement, would it not?

I believe the best way to a secure my future is to buy-hold properties to create the passive income.

Problem - I am recently laid off my job. Without a new job how can I get the mortgages I need?

thank you all for the warm welcome

I am about to head out to a local REI group on networking. I figure that is a great place to start.