All Forum Posts by: Adam Huynh

@Bruce D. Kowal

Thanks Bruce,

Financial commitments were in place, 50% was covered in beginning and I owe the rest at filling. I suppose I didn't express how I didn't feel some expecations were met and just stayed patient.

@Michael Plaks

I understand, most communication is email so can see how negatively it would be recieved.

Thanks for the input Nathan. 

Working on finding a new one this week.

Hello bp,

First time user of professional tax services. Things have been delayed and last known contact about filing date was a few months ago. It is now August and I've made a request for the next 30 days for my taxes to be filled. I've had no reply. Is this unreasonable?

Most communication has been via email. I'm aware most communication which involves confrontation, isn't best suited by a ping.

@Steve Vaughan

Thanks for the response. Agreed on bimonthly, not worth paying extra for that.

Short term goals are very close to what you did. I will have capital for another househack this year and good reserves. Thought would be to move back into first home in 2024 and either HELOC/refinance or sell without taxes.

If I had good reserves, would it be wise to pay extra over next year or two and try to get rid of PMI?

Hey y'all,

Read David Greene's Long Distance REI and wanted to consider this:

"If you continuously make extra payments toward the principal of the loan, you not only pay the principal down faster through the extra payments, but you also ensure a larger percentage of your next payment goes toward the principal.

One common way people take advantage of this phenomena is by making half of their monthly payment every two weeks as opposed to one payment a month. At first glance, this might seem silly, as it appears to be the same amount. Let me tell you, it’s not. Making a payment every two weeks is the same as making one full month every twenty-eight days. Because most months have more than twenty-eight days in them, this leads to your paying more per month.

On a thirty-year loan with a 5 percent interest rate and a balance of $250,000, you can expect to pay $233,139.46 in interest over the life of the loan if you make just the standard monthly payment with nothing going toward the principal. If you take that same loan with the same terms, but you make one half of the mortgage payment every two weeks, you end up spending $190,193.73—a savings of $42,945.73 from making the equivalent of just one extra payment a year."

I have 2 properties via househacks. Net cashflow is zero accounting for cap ex/maintenance and I don't pay for any living expenses. I've taken a lot of David's advice and want to continue invest in high equity areas where CF is neutral. I have a very good paying job and don't intend on leaving although would like to drop my W2 hours over the next 1-3 years. I am based in Austin, Tx.

My question is if it is worth it now to make extra payments every month in order to continue to build equity, or not since mortgage rates are so low?

Thanks,

Adam

 Hi @Albert Bui,

Curious about his strategy, still applicable in 2022?

@John Duston mind sending me your contacts? I am interested and based in Austin

@Paul Defngin Any more info on this somewhere?

Sorry about that @Andrew Postell, small multi family. My backend DTI appears to be about 50%, was looking how that fits the FHA requirements.