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Results (10,000+)
Omid Boloori Bookkeeping question on loan payments
12 December 2018 | 5 replies
Escrow payments normally include prepaid amounts for home owners insurance and property taxes.With that said - when you make a mortgage payment; the payments are normally record as suchMortgage Payable(principal)             $100Mortgage Interest                               $100Escrow                                                  $100       Cash                                                            $300In this instance, mortgage payable decreases your liabilities.
Brook L. I have a lot of built up equity- should i sell? rent out? etc?
21 December 2018 | 7 replies
Note that the Mortgage Pay Down is accelerating and starts at $245 in your first payment.Here is a snap shot of the Mortgage Schedule, but closer to today's date:Note that in 1/1/2019, I calculated that you would increase the Mortgage Pay Down to $312 from the initial $245 where you started, on a per month basis.The end point of this mortgage will be that it will disappear in 2033.That means that, if you can rent out the apt now, you will receive a cash flow of $150 to $350, as you indicated.BUT, if you consider that you are making an additional $300 or so per month from your Mortgage Pay Down, then you will actually be making $450 to $750 per month.By the year 2033, that Mortgage Disappears and you will increase your cash flow by $545 since you will no longer need it pay the Mortgage.Now that we did this kind of analysis, if you did choose to sell and buy a new property, you were correct in the assumption that you will NOT get the same Interest rate.What is worse is that you will be paying 2 other additional closing costs, one as the Seller and the other as the Buyer.I would consider the following:1) Try to take out a HELOC for the remaining Equity2) Rent the Condo at some point where it makes sense for you3) With the HELOC, you can tap that resource when you are ready for a new InvestmentI have been doing something similar for the past 21 years, but mostly on the Investment end of it (for instance, Buy in an LLC, get a Line of Credit versus a HELOC).The above strategy also lets you keep the Condo which you are intimately familiar with it, so you know it's problems and it's pluses.
Kyle M. BRRRR Calculator Suggestion
3 March 2019 | 2 replies
For instance I'm planning on adding about 20 spaces to the park.
Burt L. How To Negotiate Further With the Owner of Two Meth Houses?
7 June 2016 | 7 replies
My immediate issue is getting another extension and whether to pursue the seller bring cash to the closing table or to pursue a Sub-2 with the problems with that mentioned.
Sean White Phone system for VA to call from
22 December 2015 | 8 replies
We have 7 extensions on our system.
Frank Matanane 1K for marketing - How should I spend it?
3 June 2017 | 38 replies
For instance  ----  I found a property for one of my buyers that he could acquire for 7% of ARV!!!!!!!  
Scott Smith Ask Me Anything! Free legal advice
13 December 2018 | 86 replies
I had already granted a 10 day extension and his loan has not been approved nor has he removed the loan contingency by the extended date.
Larry Watson Real estate attorney in Winston Salem
10 August 2016 | 9 replies
In both instances, I was an out of state buyer and settlement was done by mail.  
Anna Hamann Buying a property with tenant with no lease
7 December 2015 | 22 replies
But make absolutely sure and look extensively into the DHCR.  
Caitlin Damani Insurance Deductible on Multi-Family
18 October 2018 | 2 replies
It seems advantageous to have 3 duplexes in some instances and in other instances like this it would be better to just have one policy.