All Forum Posts by: Aaron Harris

@Karen O. Thank you, i'm hoping it goes according to plan but I've done my research and it feels like a good move. 

@Aaron K. Yes that's a good idea, my parents are on board or basically I'm taking over haha to get things in motion and moving, so we'll see how it turns out.

@Karen O. Yes it is a SF. My parents own a home already that they reside in, this is a home they bought that I grew up in as a young child.

@Aaron K. @Nick HedbergThank you both for this information, really great ideas. My parent's home has a pretty good interest rate right now, hoping to have it paid off in the next 5 - 8yrs. That sounds so far away but it'll be here before we know. I'm really just banking off of the fact that with this implementation of the new stadium and neighborhood improvements that that should increase the city's attraction. I believe it will only benefit us local residents but also I don't want to be naïve that it's a possibility that even with that returns might not be as profitable. Right now if ran properly, we are looking at 1k cash flow per month. My parents have their reservations but I'm doing my best to explain how beneficial this would be so fingers crossed. Thank you all for your assistance, really appreciate it.

@Jaysen Medhurst I'm talking about refinancing my home, taking some equity and putting that equity into restoring my parents home for renting.

Hi,

I have a interesting situation. I'm currently a homeowner that is considering refinancing in order to help restore my parent's home which is currently vacant. I'm thinking of putting 25k into the home to restore if and eventually or fairly soon, have someone move in paying rent, in addition to possibly converting my back unit into a possible AirBnb or space for myself and have my home rented. I'm striving to have this completed in the next 4 months which I feel is possible. I guess my question is would it be a smart move to refinance my home in order to facilitate this restore or are their other options I should be possibly looking into?

Any assistance or direction would be greatly appreciated.

Thank you BP,

Aaron