All Forum Posts by: Alma Laque

Congratulations @Rick Levada!   We are newbies ourselves, although we focus on buy and hold for now.   Keep us updated on your progress!

@CJ M.  Oh I have!  just closed on our second one..but hoping to increase cash flow by getting a 20 yr or 25 yr term...but they all require closing costs ( well that we pay vs the bank) and that extra 5-6 k just isnt worth the little extra cashflow.   I will keep looking!   TY!!!

Thanks @CJ M.  I have called a few but none im super interested in.  perhaps a 15 yr term with no closing costs is as good as it gets!

Hello!

Was hoping someone could provide some guidance.  We are currently using a heloc to fund the buying of rentals.   We are using the Brrr method.  However, can anyone recommend a bank that is investor friendly for the last r?  To pull cash out of the cash bought house in a mortgage to pay off the heloc? 

@Bob Okenwa   Wise words.  We just talked to our realtor and we think we are going to go ahead and take the plunge.  Sucks, but as you stated, we are looking forward and I think once we find a new house to move into and have all that extra cash to invest elsewhere, it will help our feelings about it.  :)  Its hard when the only thing we have to look forward to is cash and no house to look fwd to!

@Justin Kane    I will certainly reach out.   @Larry Turowski  I agree, which is why I hadnt sold previously and not 100% sold.  However, taxes, while ok NOW, will soon be in the area where I just dont want to pay it.   Thats a new car, or rather for us, a 1/4 of a new house a year ( really 1/3 but we would need to pay taxes elsewhere anyway)    We would take the money, and buy in Alamo heights  ( a really top notch neighborhood in my area).  That would leave a good amount left to reinvest in about 3 other paid off houses which would then help pay for our only investment home.   The good news is that our house and lot are fully paid off.    But yes, it is our home, which is why its a debate at all...if it wasnt my home, slam dunk I would sell.   

Hi, So we bought our home and lot about 7 years ago.   We thought it would take much longer for it to flip and gentrify; but in 6 years both the lot and home have increased in value by roughly 400-500%.   My questions is...when do you know, or best guess, when to cash out?   Any advice?  We are in South Texas.

Hi!  We bought our current home with the intent of living in it 20 years.   I knew it took that long for King William/sthoutown to gentrify, so I chose the home and we bought in a so/so neighborhood that i thought would appreciate, with time, in value.    That neighborhood was Tobin Hill.  We also bought the empty lot behind our home 2-3 yrs in.  Well we went to protest our taxes with the only intent to see what the comps were in the area.  We were astounded that they had hard comps of lots selling for 200K.  If i dont have the lot behind our home, i think i would prefer to sell the lot and then the home within the same year.    With that said...how do you know when to sell out?  we LOVE our home but I am not in the mind set of letting heart strings make financial decisions for us.  So how does one know, or best guess, when its time to cash out?

Its not just you.