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29 July 2024 | 5 replies
My current primary ( scenario 1) Keep the primary for the life of the loan ( current rate is 4.5 so i dont see my self refinancing anytime soon)current home value 1,150,000Loan amount 935,000appreciation estimate 5% per year after a 28 year hold and the house is paid off I would have a house worth 4,312,000$my current mortgage is 6125$ ( piti) included My second option( scenario 2) Sell the house, walk away with $150 ,000 ish in hand and put that into a low cost index fund Rent a house elsewhere for about 3000$ ish and take the extra 3000$ im saving everymonths from not having to pay my mortgage and puting that money in the index fund as well I ran the numbers on both of these scenarios and doing what I mentioned above would break even at about 28 years meaning my stock account would be worth 4.3 million just like my house would , but the only is that holding a house for 28 year would mean 28 years of property taxes, loan interest ,home insurance and repairs etc whick I calculated to be about 1,200,000$ at minimum which raised my eyebrows to say the least Also i understand that each of these options ( stock market vs real estate ) will have there tax consequences ( long term capital gains) so any thoughts on that would be appreciated as well.
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29 July 2024 | 0 replies
The house has been on the market but traffic is slow - not sure if this is due to the current environment or something specific I should address within my listing (we've already adjusted the price).
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30 July 2024 | 16 replies
The house I bought was a special case and I went it expecting negative cash flow.
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29 July 2024 | 1 reply
Is it better to first purchase a primary home for myself (living in CT), and if so, does it matter whether it’s a house or a condo?
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29 July 2024 | 2 replies
Despite Austin's population only growing by 1% from 2018 to 2022, it had the biggest GDP evolution at 46% during that time and tied with Fort Worth for an 11% rise in housing, the report says.
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31 July 2024 | 40 replies
That ordinance is unenforceable due to 2014 statelaw, so we are renting all Tampa houses at 1 night minimum for 6 years with no issue at all Andrew, can you provide some details on the 2014 state law.
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30 July 2024 | 1 reply
Potential Solution: is cosign with a close family member to alleviate payment issues.2) Wanting to close her storefront and run the business in our house.
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29 July 2024 | 3 replies
I plan to house hack my first investment property.
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29 July 2024 | 2 replies
Total home sqft is 2343: main house is 3b3b 1783 sqft and ADU is 1b1b 560sqft.
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30 July 2024 | 4 replies
Separately I have a non paying tenant I am evicting which will cost me c10 months rent but that is another story and buyer beware in dealing with NYC tenancy and housing laws - advice is hire a lawyer from day one of nonpayment.Two questions for the forum:1.