All Forum Posts by: David HIbbs

Hi. When it comes to financing, what end load terms do you end up going with for a property to cash flow? 30 year, 20 year, etc? We've gone with the 10 year fixed to get it paid off sooner, but that doesn't put any money in our pocket right now. It obviously gets equity quicker and will have full rent payments when it's paid off. Just curious what you all do. Thanks for the info.

David

I appreciate it. What do you think about the cash out refi? Do you like that idea to be able to acquire more properties? I could use one or two of the houses that I have enough equity in to be able to make the down payments. Thanks again

Hi all. I want to get some opinions on how I've been purchasing properties. I appreciate any help. 

I have a full time self employed business that does well. That business helps us make the down payments on conventional loans through banks. We have 4 single family rentals. We fix them up, but don't try to increase value too much. We just try to get them back to rental condition. I haven't had any issues in getting them rented for the long term. Do you see any issues with how we are doing things? I haven't tried any other ways to purchase properties, such as hard money lenders or private lenders, etc. So far, it has worked fine, but we do have to come up with the 20% down every time. 

All the loans are on a 10 year note as we like to focus on paying them off. We are thinking about doing a cash out refinance to be able to get us some money to purchase additional properties so that we don't have to come up with the 20% down on the next property. That would get us additional properties, but would also get us another loan again. Anyway, that's how we've done it. Any suggestions or thoughts on this or anything we haven't thought about? Other things I should look into? I appreciate any advice. Thanks

David