All Forum Posts by: Toua Lee

Does anyone know or can anyone recommend a trustworthy property management company in the Fort Worth, TX area?   

Reasoning behind getting a LLC for your rentals? Can someone explain how this works?

what i would really like to know is, is it possible to use your home equity as a down payment? is the equity on your home liquidity? makes more since to use the banks money to make cash flow then to use my own. 

if you have done this before or know of someone that has please advise.  

This is just a thought let me know what you guys think. Not even sure if it can work. So if you know or have used this already please feel free to give your advises. 

I have about 130k available on equity with my current house i'm living in. I have a home that i'm very interested int purchasing right now, a duplex that can probably bring in 1,600-1,800. I can use the equity on my house to make this purchase and all the rent will be cash flow. With this route i could recoup all my investment in 5 years. 

Or should I use the equity on my house to make down-payments and purchase multiple duplexes.  i'm not sure how the numbers will look but if i can purchased 3-4 duplex i can come out better. but i'm not sure how that would work and how much cash flow if any would come out of it. 

any advise is welcome.

thanks,

Do you think its a good idea to purchase a multifamily investment property with my equity on my current home? purchased my current home for about 230k downed 115k on my house because that was the only way i could get a loan. Now my house is worth up to about 280k. Interested in purchasing a duplex for about 80k-100k. My mortgage payment will still be the same the only change is instead of 10 year loan it will now be a 20 year. I'm estimating rent from the property will bring in about 1,600 to 1,800 per month. This will be my first investment property and from my perspective this would be an awesome deal, because the only thing I would have to put up is paper fee. Is this a good deal or am I putting my house in jeopardy? Any advise is welcome... thanks