All Forum Posts by: William Miller

@Seth Ferguson Thank you.

@Seth Ferguson yes. So the I can use that CF to pay down the loan and build equity faster.  So you are saying its not better than waiting for the next deal? Still looking for one as well. Thanks for responding! 

We bought our primary residence a few years ago. Its our first rental and stays occupied (4yrs) no maintenance issues as it is a newer home with fresh everything and reserves already built up. Should I refinance?  Purchase price 117k at 4.75 property valued at 120k, Payment is 701, rent 860 after PM fee. Current loan balance 96k. I have 17k that I could pay the loan down to 80k.  My thought is pay it and refinance just enough to pay off old loan and lower my monthly payments. New rate 5.37 (based off a rental I just closed on.) Then use the CF of $260 (after keeping $50 to keep building the capx) a month to pay on top of the monthly mortgage. This would I think save me a ton in interest over the life of the loan and provide flex room for a down turn and give me more equity in the home faster. No immediate deals lined up and I will replace that 17k in 2 months ish.  End game is Flex room on rent, equity for future deals, not paying so much interest and maybe paid off much faster.  Learning So pick away!  

Hopkinsville, KY 

Be a Pirate!! But first you should run the VIN/ HULL number. This may help also https://www.in.gov/bmv/2469.htm

I am thinking HELOC primarily for the lower interest rate saving $1200 (depending on fees) and have the ability to buy quickly. What should we be asking during the process?

I am trying to figure this out as well. Not to Highjack but I also need input. What if you Buy a home for 70k 5.2% interest and HELOC for loan amount. But you are able to pay it off in 12 months with a 2.75% interest rate. Goal being to have liquid cash to BRRRR. @Conrad Johnson I am just north of you in Hopkinsville, KY.

Thanks!  IN and KY is where we will head back to.  To be honest we will go where the money is, and that is what I need to find out.  FL has caught my eye.  

Greetings everyone!  I hope this is the correct spot to post.  After being given The 4 Hour Work Week and then Rich Dad Poor Dad forever ago.  I have picked up Land-lording on auto pilot and The real estate game.  We also just closed on our 4th unit, bringing us to 2 SFHs and a duplex. After trial and error we finally made 2 purchases this year.  Currently we live in the UAE, I contract and my wife runs her business on line.  Next year we will move back home.  We are looking to GROW, beach area?  I have working Knowledge in construction and a Will do attitude!  Hopefully I can find some teachers here and build relationships with positive hardworking people!            Ask for The World! You just might Get an Island!! ;)