All Forum Posts by: Harold Cherrix

 I found a post yesterday but most of the comments were people that had interviewed and not signed up for the service. Very few comments that were within the last 18 months, unless there is another post I missed. Anyway thank for the reply.

-Harold

After this year's tax bill I need to do something different to reduce my tax liability. I reached out to the Tom Wheelwright CPA group "Wealthability" I spoke with the representative and he said all the right things, agreed with some of the strategies I had already planned on implementing this tax year and added some new ones. My concern is the service is quite expensive for the first three months where they help you plan you strategies for investment  path. I am wonder if anyone has used them and how was your experience? Was it worth the investment? 

Just saw this today, how was the meet-up? When are you going to hold the next one.

At the end of last year, my son and I invested in a property that has 3 Trailer Homes and a 3 bed 2 bathroom house. At the time the only financing we could obtain quickly was a  5/1  balloon commercial loan @ 4.5% amortized at a 25-year rate. The property has two of the properties rented and the other two need to be upgraded (replaced) and the property is currently cash flowing. I am concerned about having a variable rate loan I believe the interest rates will go up considerably over the next five years, this is why I am looking for a fixed-rate loan. This leads me to my question; Does anyone know of a bank with a low fixed-rate loan program that we could refinance this investment property for a 25-30 year term?

This is a buy and hold for the grandkids and we don't have any plans to sell. Once we complete the replacement of the two trailers and install a new septic system the property will flow over $1000 a month so we feel this will give the grandkids a headstart after highschool. 

Any advice would be greatly appreciated, thank you in advance.

Going to rent latest refurb until the market settles down.

Done