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5 February 2025 | 4 replies
When you draw from the equity, you are "borrowing" it from the bank and have to pay interest.If you borrow against the equity at 7% interest and then loan it out at 15% interest, you are earning a positive 8%.
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28 January 2025 | 12 replies
It’s paid off, I would “like” to leave it that way & maximize the cash flow while paying down the heloc between the rental & other income.
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2 February 2025 | 0 replies
After fully renovating both units, I refinanced to pay off the loan and held it as a long-term rental.
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4 February 2025 | 87 replies
Who pays when the resident breaks the agreement and quits paying?
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22 February 2025 | 14 replies
I’d recommend interviewing a handful of companies, asking for referrals, and making sure the team you choose has a multi-layer review process—so it's not just one person handling your books, but a team with oversight and checks & balances.And totally agree with @Markus Shobe: you get what you pay for!
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20 February 2025 | 46 replies
Tenants should pay for that.My lease considered normal to be a few items hung using 1" nails or smaller.
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29 January 2025 | 19 replies
Use that loan to pay the back taxes and get things under control.
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5 February 2025 | 4 replies
You will be paying 6-10% for just having them collect rent.
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29 January 2025 | 10 replies
There are quite a number of things that can make utilizing an FHA loan more difficult such as more barriers during appraisal, appearance of low qualification/little cash, typically longer closing period, likely higher interest rate, and PMI cannot be dropped without a refinance if 3.5% down.That said, just chain 5% down conventional loans, and make sure your duplexes pay for themselves.
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29 January 2025 | 2 replies
I would focus on the house hack and not take a pay cut.