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13 August 2024 | 3 replies
Home equity is 6-7% depending on length 5yrs vs 15yrs a 30 yr mortgage is 6%...Ideally rental stays rented out bringing in 1/2 of mortgage payment on new house based on numbers and is already cash flow positive bring in $1200/month (worth about 180k)and new property is going for 240k going rental price is about $2,000/month but I owe 18k still on private mortgage- reason I want to pay it off (4% flat 720 interest from cc for 1 year) to have it 100% paid off, then use home equity to pay off....or try to balance transfer balance after 1 yr which ever is lower but I figured that would mess with debt to income ratio and with this property being brand new, which is hard to find being located outside of closest major city...goal is to keep house rented out till it's paid off while also being cash flow positive with both properties combined and using paid off/ nearly paid off 1 to pay for 2nd rental, so I'd say lowest debt while also building wealth/equity not worried about a monthly/yearly profit per say as long as someone else is paying down the mortgage ie: my current property is bringing in $1200/month but current market value says it should bring in atleast $1500-$1600 but the tenant is phenomenal so she's paid same rent since 2017 I've put about 36k into between mortgage payments for 2 years and some up keep...she's put in the other 130k!!
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19 August 2024 | 3705 replies
I think it's a combination of lack of confidence as well as fear of failure.
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12 August 2024 | 0 replies
Partner Driven financed this deal through a combination of internal capital and resources provided by our partner, Seth Choate.
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13 August 2024 | 4 replies
We MIGHT be able to find that if we get a home equity loan on our Texas rental property - but it would all depend what it appraises for... my guess is we would be a little short but could hopefully combine it with the builder refund. 3.
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15 August 2024 | 28 replies
Airbnb/VRBO do bring in about 60% of our bookings but that does leave another 40% to direct bookings and a combination of our other platforms (Marriott Homes and Villas, Booking.com, JetBlue and Allegiant Airlines, Google Vacation Rentals, and more).
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13 August 2024 | 15 replies
Regardless if they still have the dog, I wouldn't do anything until the tenants are out because a new lawn and a dog are not going to be a good combination regardless of who lays the new sod.
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12 August 2024 | 1 reply
The combination should help you develop new strategies (money applications), and how and where to apply these strategies.2 - You don't need money, at least your own money.
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12 August 2024 | 13 replies
I suspect I have had some luck combined with screening my tenants well.
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15 August 2024 | 57 replies
Combine the 2 and you have a cash flow situation that would be real difficult to match on a new purchase.
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12 August 2024 | 26 replies
But if all you're doing is acting as a PM, that's all I'm willing to pay you for.No conventional lender is going to allow you to have a CLTV (combined LTV) of 100%.