Are you thinking of doing a combination of bank financing and private money or just private money?

Because generally the policy of most small banks is: They do not allow your to exceed the 75% Combined Dept to Value ratio on any properties anytime they have a mortgage interest or collateral on.

Since we will be combining cash for down payments, would he necessarily need to be included in the ownership?

Scurry is out near Combine, right?

The higher LTV combined with the higher loan costs (from the PMI) will cut into your returns.

Although I'm totally green to real estate investing, I have spent the last nine years of my career doing a combination mortgage origination's and residential real estate sales (7 years in lending, 2 years in real estate).I stumbled upon BP through a couple of Google searches and couldn't believe the information and resources that are made available within the online community.

I see examples of this all the time where the total clean-up bill is more than 2 or 3 times the pet & security deposit combined.

The combined mortgage on all three properties is around $438K.Our household income is more than enough to comfortably cover all three mortgages, even without the rental income, although both properties have been rented for a long time and pull in good rents.We have, over the last two years accumulated enough in savings to pay off one of the mortgages.

I pay extra for it because it allows me to control access to the property when I'm not there by using the alarm in Combination with a lockbox.

I'd like to combine the two liens down to a better interest rate.