26 June 2020 | 13 replies
I do understand that due to inflation if I kept the loan for 30 years I would pay back less.

9 June 2020 | 5 replies
That basically means you make payments as if the term were 25 years (which makes your payments much lower), but at the end of 15 years, the gig is up, and you have to either pay off the remaining mortgage balance (the balloon), refinance into a new mortgage, or sell.

19 June 2020 | 19 replies
As long as you are setting it aside and not spending it, your options will remain open to pursue whatever avenue makes the most sense for you.

14 June 2020 | 22 replies
It is the additional power to completely defer (indefinitely and later eliminate) the remaining Fed cap gains tax and associated state tax as well.

10 June 2020 | 12 replies
The market we are in is extremely hot for sellers, such that most duplexes have multiple offers at or above asking after only a day or two on the market, which makes it difficult to request additional information ahead of making an offer, such as the lease, yet remain competitive and timely.

10 June 2020 | 2 replies
But you can only dig so deep on tenants who are already in place - It's not like you can ask for bank statements and credit card balances to confirm each tenant has sufficient reserves to meet the remaining term of their lease - So past performance is no guarantee of future performance.Ultimately, those tenants have a lease that you are contractually obligated to honor (just like they are) until it is terminated one way or the other.

10 June 2020 | 4 replies
Can I just put up a "for rent" sign in the yard once the major items have been taken care off and the provide a list of all the remaining items to an accountant who can make a determination for me?
12 June 2020 | 11 replies
Many of the buyers who've intended to buy pre-COVID-19 were sitting on the sidelines during the lockdown so there's a bottleneck of buyers while the inventory has mostly remained the same and people clinging onto their homes riding out forbearance, which ought to expire towards the end of this year.

11 June 2020 | 3 replies
So to summarize, here is the breakdown of everything:Rehab: $28,990Loan Pay Off: $186,745Closing Costs: $3,500Total Expenses: $219,235ARV: $277,00080% LTV: $221,600Loan Skip + Escrow Balance: $1,546Total Income: $223,146Remaining after loan pay off: $32,901Profit: $3,911 (Remaining - Rehab)Previous Monthly Payment: $1,242New Monthly Payment: $1,274So all in all, my monthly payment is only going up by $32/month (thanks to all-time low rates), I put a butt ton of equity in my home, pulled the equity back out to invest in something else, and got an extra $3,911 in cash.

11 June 2020 | 4 replies
Not too long ago you could purchase six properties with 20% down and the remaining four with a 25% down payment.