All Forum Posts by: Gene Fish

ah nice thanks. it says this. so hopefully I'm good?

"The McLean-based credit card issuer and bank will service its existing and pending mortgage loans." 

Does anyone know what's going on with Capital One Mortgage?

Closing on a property in 8 days and my realtor tells me they have fired everyone and are out of business? They aren't picking up the phone and the website is down.

Should I assume I'm not getting a mortgage through them and figure something else out? Everything was ready to go.

Hello from the Philly suburbs!

I'm new to the real estate game but learning a lot from your forums. You've got a great group here. Looking forward to being a part of it.

- Gene

So my wife and I are considering moving and turning our purchase into a rental after two years. Would love to hear if this would be worth considering.

The move would actually be a significant downgrade from our current house but would move me closer to work for two years and hopefully we wind up with a nice investment.

My wife is unwilling to move into a fixer upper so we found a brand new house. We won't be getting it for a bargain or anything but it'll be fair.

Purchase price will be around $450,000 with minimal work needed. (We will probably put like 50% down and get a decent rate mortgage). It's a 4 bedroom 3 bathroom with nice ceiling size, good curb appeal, etc. Great school district and neighborhood. Taxes would be $7,500.

My realtor is estimating rental at $2,700 or so.

Any way I crunch math it seems like my cash on cash return will be hovering around 5%.

I'm not as concerned with eeking out every single dollar. To me having a newer property with hopefully less repairs and vacancies is important. But I still want it to make sense obv.

Thanks for any input. Love these forums.