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10 February 2025 | 8 replies
Taking a 15 year mortgage will hemorrhage your debt to income ratio and make it difficult to qualify for more home purchases in the future.
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28 January 2025 | 71 replies
I was determined to restore that.
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3 February 2025 | 56 replies
were these all BRRRRs that were purchased with cash or short term debt and then refinanced?
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16 February 2025 | 71 replies
zero risk, there is absolutely zero risk when you pay off existing debt :)
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4 February 2025 | 8 replies
You will have more success finding LP partners to fill the rest of the capital stack alongside of the construction debt.
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2 February 2025 | 2 replies
@Jerry Velezif a property is owned outright with no mortgages, debts or liens on it, then it can (potentially) be purchased on seller financing.
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14 February 2025 | 9 replies
Hard money lenders focus more on the property’s value rather than your personal debt to income ratio (which traditional banks use) allowing for quicker approval and funding.
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4 February 2025 | 10 replies
With this in mind, if you intend to leverage short-term debt (hard money), it's even more vital that your underwriting is thorough and that you have the correct systems in place to tackle potential issues.
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10 February 2025 | 13 replies
Most lenders will also look at debt coverage ratio which limits leverage at this time due to higher interest rates.
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6 February 2025 | 3 replies
Maintenance and potential repairs will also require a long-term financial plan and setting aside a contingency fund for such expenses.The steady cash flow, appreciation over time, and tax benefits can make a meaningful difference to your wealth in the long term, especially with the principal paydown on the mortgage.However, if managing the property from a distance feels too burdensome, or if you’d prefer the certainty and flexibility that comes with having less debt (especially given the high mortgage rates), selling and using the $100,000 in equity to reduce your loan for your next home may be the smarter move.