All Forum Posts by: Dan Marl

 I haven't done a refinance cash-out before so I am sure if my math is 100% correct. The mortgage broker said I cash out 510k. Therefore the loan would be 510k correct? 

Sorry for the gigantic font. I didn't know it would show up like that lol.

Thank you Jacob for the advice. I was leaning on option 2 also but the thought of upping my loan from 227k to 737k (227+510) sounds scary. 

I have never done a rehab before so I am thinking of buying a turnkey rental in cheaper states. Prices in CA are too expensive to make sense. 

Should I refinance w/ cash-out or use my taxable account to buy homes?

Hello everyone!

I am thinking of investing in real estate. Maybe in 5-10 years have enough rentals where I can quit my job and do real estate investment full time.

Situation:

- My home is worth 688k

- I still owe 227k on the mortgage

- I have 470k in my taxable account (mostly index funds) - they are doing good this year

Options

1.Sell funds in my taxable account to use as down payments for future investment homes. I will have to pay long-term capital gains tax 

2. Refinance my home with cash-out with 30 yrs fixed at 2.6% interest rate. I can borrow up to 510k to use for down payments. 

If I borrow 510k, the mortgage will increase from 900/month to 2000/month but I can handle that.

I am ready to buy 3-5 houses in the next 12 months. Maybe do BRRRR (Buy, Rehab, Rent, Refinance, Repeat)

What would you guys do?

Hello Theresa, 

There are no basements in this community. This is a southern state so they usually don't have basements. Thank you

Hello everyone,

I got a lot from a builder and now I need to select the floor plan. My goal is to rent the house out and sell it in the future to make a profit on the appreciation.

There are eight floor plans that start out at 3 bed 2 baths at 1600 sq.ft to a 5 bed 3 bath at 2800 sq.ft. The prices start at 250k and go up to 320k. It seems in the neighborhood, the buyers are selecting the smaller to medium floor plan (1600 - 2000 sq.ft) rather than the bigger floor plans (2500 - 2800 sq.ft).

I have two questions:

1. From how easy it is to rent out, would the smaller the floor plan easier to rent out, or the bigger floor plan

2. From an appreciation, which would appreciate the most? The smaller floor plan or bigger floor plan.