I'd not been there for several months as is often the case and didn't know it but they'd instituted a new policy where buyers need to show an official ID when going up to pay after winning that bid, this due to the goofs who were wholesaling or whatever and would put their 10% down and then use whatever name, so they could then simply call their buyers and find whoever wanted to buy it and then that person would show up for the confirmation hearing and pay the balance.

Property 1: 4/3 LTRCurrent Value: $475kPurchase Price: $363kDown payment: $40k (30 year conventional)Interest Rate: 2.75%Remaining Balance: $294kMortgage payment: $2369AVG revenue: $2775Property 2: Duplex - 3/2 House Airbnb & Detached studio apt 12mo leaseCurrent Value: hopefully within $575k-$600kPurchase Price: $591k (appraised at $599k)Down payment: $30k (30 year FHA)Interest Rate: 6.125%Remaining Balance: $552kMortgage payment: $5041 (including $362 PIM)AVG monthly utilities: $385 (full year avg)AVG monthly revenue: $5261 (full year avg airbnb + $1650/month from apt)

(example you take out a $1M HELOC, pay off your old $350k balance, and now you have a new HELOC with a $350k balance but an additional $650k to draw from)Above poster is incorrect on 2 things.1.

It is a balancing act for sure.

From the looks of my ledger, I have about $18,000 in uncollected rentsAttached is the balance owned and the current monthly rent expected. 

New sales in the house hack sector went from 219 last year to 224 this year.Westchester’s most popular neighborhoods for 2-4 family properties:Yonkers: 85 dealsMount Vernon: 35 dealsNew Rochelle: 17 dealsGreenburgh: 14 dealsRye: 12 deals* Ossining & Harrison: 10 deals respectivelyConclusionInventory increases across the board could signal an oncoming balanced market.

There is a small balance that I can pay off with a HELOC from another property I have .

Which would leave a balance on the heloc for me to pay off.

also if the balance was 285k if could be way higher with default interest tax's insurance etc etc.

This notice contains the homeowner's name, auction date and in some cases a description of the property/principal loan balance.