Let's say you got a house w/ newer 30 yr roof and you only plan on keeping it 10 yrs... you'd probably not need to replace it before you sell it.

Only downside is you have to live in the property for 10 yrs, but the down payment/closing assistamce(interest free) is forgiven.I got into a triple decker with 11k down and 27k in downpayment/closing cost.They also have certain lenders that participate in the program.

I am 33 yrs old, single and no kids, with a stable full time job, so I guess that's the reason why I am willing to take some risks with the heloc.

I am a big fan of he late Bruce Lee as well.Just for fun lets run the numbers for a HNW client that can borrow at 2% assume 20% down @ 2% 30 yrs monthly pmt is $3,271.87 .

16365(15 yrs. @ 1091) + 50000 - 12000 = 54365/15 yrs. = 3624/yr.3624/12000 (initial investment) = .30 or 30%/year ROI?

My son has a 10 unit under contract that is a conversion from over 50 yrs ago (100 yr old building).

If your LTV is 90% or lower, then MI will drop off in 11 yrs.* If you do the refi as a FHA Streamline Refi (i.e. take the existing FHA loan amount and roll it into a new loan), then there is no additional requirement to owner occupy the property.

To have 25+ yrs in RE & Mortgage brokerage & still be honest with yourself to keep gaining knowledge!

That is why I would love to buy since I know ill be in the same area vs. wasting rent for 5 yrs.

Though be careful not to overpay, your property WILL NOT APPRECIATE even in 20 Yrs.