Real Estate Agent · Salt Lake City, UT · Member since 2014 · 473 posts · 230 votes
8y
@Brandon Graves with the penfed 80% loc your numbers will look like this.
320k x .8 = 256k - 224k = 32k loc
If you sell, you would be looking at 320k - 224k = 96k - 25k (realtor / loan costs) = 71k.
Hard choice. If you have somewhere better to put that money, maybe selling isn’t a bad idea after all.
Youngsville, LA · Member since 2016 · 17 posts · 5 votes
8y
@Tamika Wyche. Your rent needs to be 1% of the purchase price. For easy numbers, you buy a house for 100k the rent should be $1,000/mn. Of course there are other factors to consider, but this is just basic way of analyzing deals fast to see if they are worth digging deeper into.