All Forum Posts by: Aja Leafe-Hall

I’m going to be in the North Conway area to start.

Hey all, I’m considering a big move, from Western Washington to eastern New Hampshire. Why? Because my whole family is there. I need help deciding whether to sell or rent my home in Washington. I think it is a good investment to hold on to, but I also want to be able to invest in something back east to live in, maybe a duplex. Here are some details: We could potentially rent our house out for twice the mortgage. We have over $100000 equity in the home and a HELOC to access it, but really no other savings. There is definitely a sellers market going on here in Washington and it’s growing. My husband and I have 2 kids and we will have to find jobs as well as housing back east, but can stay with family, initially. So...is it better to cash out on our property, or buy something with equity for a down payment? Maybe we could buy a vacation rental before we move out while we have work history and eventually move into it? Thanks for your insight, Aja

Hello, I want to convert my own home to a rental in 6 months. What are the main areas for improvement that you would focus on in preparing your property for tenants? I'm in a pretty hot rental market, but I'm planning on moving cross country so I want to mitigate any property problems down the road. We just replaced the roof already. Thanks Aja

I'm also interested in doing this. My HELOC has an option to convert to a fixed loan if interest starts to rise. But I like the flexibility of the line for now.

@John T.

Thanks. That is my plan. I'm thinking the beauty of the HELOC is we can make interest only or convert to a fixed loan at any time. Plus, no new fees to refinance and we get to keep our low rate on the first mortgage. I'm going to look for a 2-4 unit multi family that we can live in in the Northeast. That should more than pay for it!

Hi Steve, Naomi and Andrew! I'm going to try to make the meet up in January. In the meantime I am looking for referrals for carpenters, property management and mortgage brokers. And can someone tell me how to tag people in a post or upload a picture?

I mean expenses

Thanks @Larry T. Sorry for my ignorance here, should I be factoring in the HELOC down payment for my original property income, or the one I buy with it?

Hi there, I'm Aja ("Asia"). I'm a homeowner (and newbie) with my husband here in Olympia, WA. We have built quite a bit of equity with this property. I'm here to learn how to leverage that to generate more wealth and income for our family. We don't have much invested anywhere else and my husband is in his mid 50s. So I would like to have real estate investments to help fund his retirement, and ultimately mine (I'm in my 30s). Here's my burning question. We want to move cross country and invest in a new property back east while holding our west coast house as a rental. We already have a HELOC. If we borrow from that for a down payment on a new property, would there be risks I'm not seeing? I don't really want to Refi because we already have a low fixed rate on our first mortgage. The cash flow from our rental should be enough to pay down the HELOC. What am I not considering? Thanks! Aja

Great! Thanks!