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25 May 2024 | 7 replies
I live in a smaller and older suburb of Fort Worth where I am less likely to get tracked down (I see evidence of work on properties all around me that are clearly not permitted or up to code), but also know that the specs on the house will change with the appraisal district once I get the property refinanced.
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25 May 2024 | 13 replies
Is there anyway to get her sister off the mortgage without refinancing?"
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24 May 2024 | 15 replies
Let's goo.No DTI calc on a DSCR :) also, you may want to consider refinancing your other investment properties into DSCR loans or a portfolio under an LLC to remove them from your personal credit…that should help your DTI/utilization/credit scores.
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24 May 2024 | 1 reply
Hey RE Pros! Wanting to explore other options or find out other financial strategies for trying to build a detached home on our lot without having to refinance out of our 2.75 interest rate with a cash out or doing a ...
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30 May 2024 | 93 replies
I assume no principal paydown to simplify the example.75% is the refinanced amount.The calculations for the net proceeds are as follows:Year 1: Net Proceeds = $400,000 x (1 + 8%)^1 x 75% - 300,000 ≈ $24,000Year 2: Net Proceeds = $400,000 x (1 + 8%)^2 x 75% - 300,000 ≈ $49,920Year 3: Net Proceeds = $400,000 x (1 + 8%)^3 x 75% - 300,000 ≈ $77,914Year 4: Net Proceeds = $400,000 x (1 + 8%)^4 x 75% - 300,000 ≈ $108,147So, after four years, you have the downpayment for your next property.
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24 May 2024 | 0 replies
Our most recent funding was a luxury FL penthouse condo refinancing an expiring private 1st jumbo mortgage of $2.5M+ consolidated with a 'smaller' second lien with an LTV of 70% that closed in two weeks.
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22 May 2024 | 10 replies
Hello I'm curious if this strategy is theoretically possible to expand super fast wealth as below:For example, I buy a rental property for $70,000 in cash and then immediately did a cash-out refinance to get $56,000 i...
23 May 2024 | 1 reply
This home was financed through refinancing a previous property.
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26 May 2024 | 102 replies
(though these can be subjective) Solomon, Please correct me with what you learned if I am incorrect, but the perception I'm getting is that you think you learned not to get involved in deals that aren't bought right and have too much leverage that cannot be refinanced.
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23 May 2024 | 3 replies
I got title in late Oct or early Nov and had it refinanced in Dec.