All Forum Posts by: Joanne Gonzalez

I bought my primary June of last year. Showed in my credit and it was $169,750 loan, 5.4 APR, $1,139 monthly payment. Due to some circumstances I had to refinance and because I was renting it out I had to refinance into a investment property. New loan as of June 2023; 135k, 9.25APR, $1,261.50 monthly Does have a potential 4,995 penalty and does not show on my personal.

I am able to refinance through a credit union with a loan amount of $134,788, 7APR (5Year-ARM), with an estimated monthly of $896.75. Will possibly show on my credit and still an investment loan.

I feel like it's the right decision so I can make more of a cash flow. Usually rent it out between 1750-1800 (all Utilities included). Refinancing it will allow me to keep it at this amount or possibly even lower it to be more competitive. But I'm stuck in between whether I want it to show on my personal credit report or not I'm not sure if that's a good decision. I currently want to purchase another home as an investment whether it's a DSCR loan or 20% down for a conventional, but I don't want the mortgage to affect me. What would you do?

Side Note: I do want to buy a primary in the next 4-6 months in officially I was tagged the right way. 

Currently looking for A CPA, noticed this post and wanted to know if that info could be passed down. 

Hey Alex! Yes the intention has always been to keep them. Situation are leading me to sell them, and yes the funds are with a QI. It's just a matter of what my next move should be. Although it may be best to allow the 1031 to fall through, I would hate to not be able to reinvest that money. 

I will definitely reach out to Dave, and keep you posted.  I appreciate you. 

THANK YOU MATT! The intentions have always been to keep it and rent it out, with the one I sold it wasn't until I purchased the property and later learned the major issues HOA had and after doing number I would actually be just breaking even, the best decision at that moment was to sell. Thank you so much for your advice. Believe it or not it's actually confirmation.

Trying to acquire properties I put myself in a pickle. Good and bad. I used a hard Money lender to purchase both properties. 

Property one: Condo, having a hard time to refinancing, running out of time (extended 2 month), in a business name, first time doing a long term tenant and felt bad after hearing their story and ultimately got screwed over. Learned my lesson. Not only are they not paying rent I'm going through the process of an eviction and the HOA is planning to do an assessment of an additional $180 on top of the $220 we already pay. Starting to look like a bad decision, and the realtor suggest that the tenant be out before we list.

Ultimately getting overwhelmed,  feeling like I just wanna get rid of it. 

Any and every advice/comment is welcome. 

Property two: Again bought with a hard money lender, Flip the home, sold it and have a solid down payment for the next property (70k) with a 1031 exchange. I have absolutely no other funds besides my 1031 and I feel like the Charlotte area is so saturated that I'm not sure what to get. Ideally a property that I could sell later for more profit to further my profile. Thinking of maybe purchasing in another state? Really relying on my realtor for guidance but I feel like I need to do more on my part and I just don't know where to start. 45 days are counting down quick and I have until the end of July. 

Help please! :,(