Most people have a mortgage on their home when they sell it.

As I am seeing 1.2 or 1.4 million 2 family house and not sure if its even going to cover the mortgage or not with 25% done. 

Here are my thoughts about your decision to refinance.Process:Understand your current loan terms.Check your credit score.Compare offers from different lenders.Get your property appraised.Submit your application and go through closing.Considerations:Current interest rates vs. your existing rate.Amount of equity built in one year.Closing costs and fees.Your long-term financial goals.It's a complex decision, so consulting a financial advisor or mortgage specialist might be helpful.

I have thought about renting out my primary residence because I could potentially have someone else paying my mortgage and the rental income would pay the mortgage and also put about an additional 600 month in my pocket.

She is transforming an existing structure into a creative studio space, seems cool, and I want her to succeed. 

Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.

There are occasionally opportunities for grandfathering if there is evidence of legally established conversions that were done previously, but no permit records exist to show it was done. 

This has definitely paid dividends for us when it comes to mortgage rates and lending options. 

While still profitable, I’m exploring better opportunities and considering multifamily (MF) properties.In my search for $1M properties (with $150K–$180K down payments), I’ve found that the NOI often matches the mortgage payments, leaving little to no monthly cash flow.

Hello everyone, I purchased my home two years ago, and currently, I have a tenant renting a room for $800, which helps cover my mortgage.