Either way, make sure you stipulate on the extra payment that it is principal only.

Once I got a few clients then I slowly started to talk about investing and so on took some years before I was able to get an investor to do deals with my as a principal..

A property qualifies as Homestead for this exemption if an eligible owner files a Principal Residence Exemption (PRE): https://www.michigan.gov/taxes/0,4676,7-238-43535_43539-210891--,00.html#:~:text=Section%20211.7cc%20and%20211.7,purposes%20up%20to%2018%20mills.Many investors have gotten an ugly surprise when they bought a property that was a primary residence of the seller for the last 20 years.

A $300,000 loan at 3.75% is going to cost you $1,389.35 per month (just for principal and interest).Your taxes and insurance will vary based on your area, but I always figure about $200 more for taxes and insurance, which brings us to $1,589.35 per month PITI.Add all of your other monthly debts that would show up on your credit (credit card, auto loan, student loans), and then multiply that number by 2.

You are probably paying the same amount down (towards loan principal); the more or less in closing funds is probably buying down the interest rate.

Hello all, If one has 2 rental properties, can the funds (gain+principal) after selling the first rental property be used towards paying off the loan of the second existing rental property?

I saw recently that Fannie Mae released new guidance on the due-on-sale clause where they are no longer enforcing when someone transfers ownership to an LLC owned by themselves.The quote and link below:"A limited liability company (LLC), provided thatthe mortgage loan was purchased or securitized by Fannie Mae on or after June 1, 2016, and the LLC is controlled by the original borrower or the original borrower owns a majority interest in the LLC, and if the transfer results in a permitted change of occupancy type to an investment property, such change does not violate the security instrument (for example, the 12 month occupancy requirement for a principal residence)."

For context, I'm in UT so money doesn't run far unless I go out of state but don't have a management company or experience buying out of state.Here are the terms:Private Lending - 15% Interest, 2 year term, monthly principal + interest payments and option to pay off soonerBuy a Property (mostly unknowns) - $200K (25%) down for commercial loan for 30 years.

  - I'd vote this over a CashoutCon: you have a draw period and it is only interest no principal payments at the beginning. 

I'm in a high appreciation market, so paying down principal isn't as important to me.