I would like to have lower monthly payments should I make a big lump sum payment towards my principals and ask my mortgage company to adjust it or refinance it or which one is the best ? 

I spoke with the title company who is still helping us wrap up the set-up of a servicing company, and she confirmed that they would be responsible for the principal / interest for Nov and Dec, while we are responsible for the escrow shortage balance (as agreed upon).Not sure how it was missed - not my favorite title company to work with.

Seller is the Agent.Seller bought property in January of 2023 for $730,000Current “As Is” Value : $770,000Target Acquisition Price: $730,000-$780,000 After Repaired Value: $900,000Repair Estimate: $120,000Initial Offer Amount: $715,000Loan Program: Bank Statement Program.Total Estimated Monthly Payments (Principal, Interest, Taxes, and Insurance) $5500/month (based on $770k purchase price)Estimated Gross Yearly Income from Short Term Rental: $160,000 (65% Occupancy, $700 a night| (STR Listing Comparable properties Listing 1 Listing 2 Listing 3)Net Monthly Income after management and taxes: $11,751.25Net Monthly Income after Mortgage Payments: $6251.25 ($75,015) Per YearTotal Cash Investment: $297,000 ($177,000 in down payment and closing costs and $120,000 in repairs)Average Yearly Return on Investment: 25% yearlyAverage increase in property value per year: 5%Average increase in booking revenue per year 7.5%Property Value average after 10 years: $1.5 millionTotal Cash received over 10 years: $1.3 million.Total Equity multiple min over 10 years: 6x total return on $297,000 invested.

Excited to join the BP community.About myself - I am a principal of a RE development company and co-founder of an proptech company. 

If you foreclose and take it back then you can resell it later but if you are owed $25,000 and it sells at foreclosure sale for $40,000 you don't get paid $40k.

Wealth-drivers are appreciation, debt pay-down (ie. principal payments) and tax shielding.

We owe about $140,000 on the duplex and about $225,000 owed on the SFH.

But if they only use 50kwh, they still owe $12-  They’re basically setting up an annuity for the solar company. 

I just sold a rental property which had quite a bit of equity from appreciation and principal pay down through the years.

We had 5k left on the grant money that we still owed, but we ended up paying it through the HELOC.