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11 June 2024 | 11 replies
It'll tell you a $500k conventional mortgage was recorded in July 2021, you can infer from the ownership record that it was a refi (same owner before/after), and you can ballpark that rates were around 3%, assume it's a 30YF, so the balance "should" be X, but you have no way to know if they made a large lump sum payment, pay extra each month, etc.
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10 June 2024 | 4 replies
We are choosing new build because A) our family 4 has a certain size demand B) the price-quality ratio doesn't seem to make sense when considering a preexisting home C) with interest rates being at near 8% with preexisting homes, builders are offering 5.99% interest rates and the exact home we are looking at is about $75K discounted because it's a spec home and the builder doesn't want to pay taxes on it.So, live in it for 5-6 years hopefully rent it out with a fully finished basement for potentially $4,200 in 5-6 years.
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12 June 2024 | 20 replies
My mortgage payments are currently $2,841.40/month and my property management fees are 4% (I'm striking a deal with a property manager I trust so I'm super thankful for them giving me such a low rate).
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10 June 2024 | 49 replies
Not a "hey let's read everything" journey, no, pick a strategy, get THAT highly rated "how-to" book.
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10 June 2024 | 2 replies
What loan type (DSCR or conv) should I be looking at and what rates?.
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11 June 2024 | 7 replies
It really depends on your investment goals.
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11 June 2024 | 15 replies
Each way you're making money on the property, it just depends upon the type of use you can envision.
10 June 2024 | 7 replies
This will be done as a "rate/term" transaction, so better rates than a cashout transaction.
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10 June 2024 | 25 replies
I pay in the area of $240 per month, but that will differ depending on the property.
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11 June 2024 | 116 replies
In the 80s interest rates used to be double of what they are today and people still succeeded.