All Forum Posts by: Ying Tang

@Devin Peterson Hi Devin! Thanks for the input! Yes it is a rental.

Hello everyone! I’ve received a lot of helpful responses on my recent posts—thank you all for your time and support! I have another question today. My husband currently has a 30-year fixed $315K mortgage that was secured around November/December 2023 at a rate of 7.99%. With mortgage rates trending downward lately, should we refinance now to secure a lower rate, or would it be better to wait until autumn for a potential further drop? I found several online opinions suggesting that high refinancing costs might negate any monthly savings for a couple of years. Given that a rate cut is anticipated later this year, do you think refinancing is the right move? For reference, his credit score is over 810.

Hi Austin! You can put the money in Robinhood account for 4% apr, which is more flexible than CD, but you need to resist the urge to invest the money into stock market from time to time...

Even incarcerated, you can still purchase properties, if you want to. My friend has helped several people incarcerated purchase house in Phoenix.

@Dan H. BTW I'm self-employed with a small business which only need a few hours of my time weekly. So I'm working towards that RE professional status. Thanks for the suggestion!

@Dan H. Thanks Dan! Thank you for taking the time to write another long reply. Really appreciated. You talk like a very dear friend of mine whose name is also Dan. Very helpful comment. Thanks a lot!!

@Jackson Harris Hi Jackson, thanks very much for the reply! I'm now convinced and I'll go with 30 for my next mortgage. Thanks again!!

@Marcus Auerbach Hi Marcus! Really appreciate your insightful comments!! I really need to plan wisely in terms of tax. Currently I just pay a lot of taxes and don't even bother checking what things I can write off...and that's bad.. I need to educate myself or get a good tax consultant. Thanks so much!

@Chris Davis Hi Chris! That's wonderful. My husband has a 30-year mortgage at 7.99% he got in 2023 that need help refinance. We are wondering if the current rate difference is worth the effort.

@Caleb Genry Hi Caleb! Would you mind share it with me too? Thanks a lot!

@Dan H. Could you share how I can get educated on this topic? Like a book? Really appreciated!