I currently own a property in Wetumpka, AL. Should I re-finance and keep, or sale, to get a better property.
Original mortgage $142k @ 4.75%
Current value $145k-$155k
Current mortgage $129k : $930 / month
Current rental $1.2k / month - 10% management fee = $1080 / month ($150 cash flow)
Re-finance mortgage $130k : $790 / month @ 3.875%
Current rental $1.2k / month - 10% management fee = $1080 / month ($290 cash flow)
Insurance? Utilities included?
That includes all insurance, and no utilities include.
Does that include property taxes? replacement reserves?
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