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3 November 2024 | 8 replies
So I am managing a condo for rent in Orlando remotely.
21 November 2024 | 1 reply
Quote from @Bruce Schussler: A lot of Podcasts and Youtuber's say to cash-out refinance to keep rents balanced with payment; (PITI) then use those funds strategically to re-invest either in more real estate or just put into a high interest bearing account or money market account...Here's some of my thoughts and comparisons;Cash-out refinance with new loan so rents balance with payment:- The cash-out refinance is 100% tax free- The funds can be put into a money-market account off-setting a portion of the interest charge of loan- The loan balance gets eventually destroyed by inflation- The liquid cash eventually gets destroyed by inflation - The interest on the new loan can be deducted from the rent income- The refinance costs are 3-4% of the total- There is less equity in the property and LLC that can be attached in case of a lawsuit- The break-even on cash-out refinance with current interest costs on the new loan is around 12 years Vs.Paid-off property with positive cash flow:- The positive rent income is 100% taxable minus only depreciation and property tax- There is more equity in the property and LLC that can be attached with a lawsuit- The break even is not until after 12 years at today's interest rates- There is a rate risk in today's inflationary environment where interest rates on bonds keep rising*It appears to me that the cash-out refi is in the best interest for a property investor; (Dave Ramsey would strongly disagree!)
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1 November 2024 | 2 replies
I live in Maryland and the elderly owner, and the property are in California.
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4 November 2024 | 1 reply
Fairbanks, Alaska, offers incredible opportunities for those interested in purchasing land.
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21 November 2024 | 20 replies
That will make a big difference as to where to invest.You live in a really good market, so you can invest in your backyardGino
4 November 2024 | 1 reply
Hello, I'm from Canada and struggling to find a good home insurance provider for my STR. I have found a couple but they want me to insure my primary as well as the rental. The provider I'm currently with isn't able to...
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21 November 2024 | 11 replies
I went through 8+ GCs in one market.
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21 November 2024 | 15 replies
Joshua,I am here in Florida as well and have been in the REI world for over 18+ years.
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30 October 2024 | 9 replies
Hey everyone,I’ve been analyzing properties in the Chicago area and see several that seem like they would cash flow decently in the Blue Island neighborhood.
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21 November 2024 | 12 replies
We're in an area with some working farms, some raw land, and anything in between.