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3 June 2021 | 1 reply
At 75% loan to value (LTV) on the cash-out refinance loan, the new loan was $100,500 ($134K * 75%).After paying off the existing loan of $61,131.37 (slightly lower than the original loan amount from paying down the mortgage before refinancing), and after closing costs of $3,739.57, I received back $35,629.06.Given the purchase price + closing + inspection + rehab = $25,547, after the refinance, I had an additional $10,082.06 ($35,629 - $25,547) in cash to buy the next property.SaleOn 5/27/2021 I closed on the sale of this property.It was not a smooth process.
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7 June 2021 | 14 replies
Presenting the projections and future income matched with existing leases or rent rolls on a property has worked.
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3 June 2021 | 3 replies
We are now looking at our 2nd property and quite like one in the Ithaca area (about 25 mins from our existing; helps us keep the same team).
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3 June 2021 | 1 reply
A 1031 exchange wouldn't solve anything, because we're looking to remodel an existing residence, not buy a new property.
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4 June 2021 | 2 replies
And can my existing LLC be the half owner of that new LLP or LLC?
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3 June 2021 | 0 replies
But does that mean they don't exist out there?
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3 June 2021 | 0 replies
LVT flooring throughout, a modern kitchen with backsplash and quartz counters, double pane vinyl windows, custom baths with tile, lots of natural light, sliding doors off master to rooftop deck ready to be personalized, and a spacious backyard.
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3 August 2021 | 3 replies
I'm waiting to hear back from the County Zoning Department to gather more info on potential uses and confirm that it is SFH ready but in the meantime, I'm wondering if anyone has advice on the following: 1) Should I be concerned about the existing trailer and barn (and possible need to remove those?)
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4 June 2021 | 3 replies
What happened to this section of foundation wall on the old plans that doesn't see to exist today?