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17 January 2025 | 6 replies
Equity from sale can go to the new property AND a DST/TIC tax free as long as I have at least a mortgage/debt of 225k on that new property?
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25 January 2025 | 5 replies
Also feel free to reach out to me with any questions.
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22 January 2025 | 0 replies
This is much lower than the costs associated with refinancing.Benefits of Mortgage RecastingLower Monthly Payments: The most immediate benefit is a reduced monthly payment, which can free up cash for other financial goals.Save on Interest: By reducing your principal balance, you’ll pay less interest over the life of the loan, potentially saving thousands of dollars.No Credit Check or Appraisal: Unlike refinancing, recasting doesn’t require a credit check, income verification, or home appraisal, making it a quicker and simpler process.Keep Your Current Interest Rate: If you have a favorable interest rate on your current loan, recasting allows you to maintain it while still lowering your payments.Drawbacks of Mortgage RecastingRequires a Lump Sum: Not everyone has the cash on hand to make a significant lump sum payment, which can make recasting inaccessible for some homeowners.Doesn’t Shorten Loan Term: While your monthly payments are lower, recasting doesn’t reduce the length of your loan.
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17 January 2025 | 11 replies
And yes they pay 60% of your Mortgage.Open to share ideas any time we have a free network to meet like-minded investors in Miami.Luis Maqueira
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9 January 2025 | 43 replies
Feel free to ask any questions here.
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21 January 2025 | 2 replies
Start with BiggerPockets Ultimate Beginners Guide (free).
21 January 2025 | 7 replies
Feel free to reach out if you need any recommendations or assistance with your projects.
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21 January 2025 | 3 replies
Whether you need advice on selling your property or transitioning to your new business model, feel free to reach out!
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15 January 2025 | 9 replies
Be sure to check out the free tools BP provides to help analyze deals you may have and also market insights.
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28 January 2025 | 6 replies
But feel free to share more if you'd like.