All Forum Posts by: Lane Kawaoka

Eric is correct, may banks are afraid of lending on a non owner occupied property. I have not seen any that will go more than 75% LTV. You might be able to get 5% but that is a varible rate (Prime plus 2%)

@Aaron Montague Thanks. Do you have a linear equation to figure out insurance?

@Albert Bui Aaron has pretty high standard for 15% cash on cash return. What is yours? Is this a regional thing. I am thinking 10% is good for Washington.

First time asking for deal analysis. The kicker is that they are offering seller financing. What should I ask for in terms of seller financing, what is a typical agreement? Would like to put down 25% and get seller financing for rest.

4220 Colby Avenue Everett, WA 98203 (20 miles north of Seattle)

another thought I had is based on your personal cash flow situation. Say you had a good jobs/saved a lot a year such as 20-40k per year then it would make more sense to go with the heloc. Consider it a bridge loan. Let me know if anyone disagrees.

Good point therefore run out and open an account with vanguard/fidelity and deposit 1 penny so you can timestamp you account. So in 2019 you can employ this strategy.

there is no clear answer but your ltv is under 50% id say at that point your roi is worse than the stock market. take your gains off the table and releverage into something bigger you earned it.

ps tell the wife that having that much equity in the property is a huge liability esp in sue happy ca

if you have a roth ita throw 5500 into it the first of the year. if you need the cash you can always withdrawl the contributions without penalty. you have a year and until april 15 to decide to leave the money in there.

use craigs list to find other rental comps

the way i see things you have 2 options.

1 keep the existing home and use the heloc to buy another property as long as the numbers make sense.

2 sell the existing home and use the equity to buy two.

it all depends on you goals etc. if your more of the flipper business model i would say use the heloc. of you buy and hold type do number 2

i dont know you whole situation is but i would like to point out that killer 3.6% interest rate. unless you have had crazy equity growth i would not sell.

let me know what you end up doing. cause im in the same situation

1) I bought a home in 9/2009 and lived in it for one year. Then I rented it out until current. If I sold it today and made a 100k profit/gain do I pay 80k of the taxes on the gain? If I move back in for 1 more year and avoid it all to qualify for the 2 out of 5 year rule?

2) Also do I have to payback all the depreciation on top of the capitol gains?