All Forum Posts by: Joseph Agins

@Dan Schwartz - Very interesting and thanks for this strategic response I had not considered. My only question is about the tax/write-off opportunities I would potentially lose on the paid off rental. I always assumed it was good to keep loans on them for this reason. I assume your strategy takes this into consideration but that the benefits of the readily available cash outweigh the potential write-offs? And, if I were to HELOC the paid off home, I would realize similar benefits anyway? Thanks again Dan!

@Bill Ward - Thanks and I agree with you and had identified all the newer ones as definate 30’s but maybe shortening the term on some of them that I have owned longer. However, none of them are at or below 15 years. So, it’s helpful to hear your opinion on this.

@Jonathan W. - So, not just re-fi them but do cash-out re-fi’s on all of them?

@Jason Wray - Great points and I tend to agree. And, hearing from Pros such as yourself really helps and reinforces that I am folks sound strategy.

I'm wanting to re-fi about 8 SFH rentals to take advantage of lower rates. Have owned them for varying amounts of times. Some just a couple/few years and others much longer. Trying to determine if I should just 30 yr terms on all of them to maximize cash flow? Hate rewinding the clock but thinking I should. Or no?

@Matt T. it seems to very on the amount of mortgages. Some are 3, some 5, some don’t care how many you have. Spoke to Bank of the West yesterday and they have no such limits.

@Barbara E. I don't know how much it matters but I’m stating the purpose as more of a “rainy day” fund to tap into if and when I need it for whatever. I assume some banks are tightening up right now but many I’m talking to are lending. However, processing times may be somewhat delayed as they are dealing with this as we all are.

@Justin Franklin Thanks! Tried PenFed already but they won’t allow more than 3 existing mortgages. Will look into Huntington though.

@Trevor Aydelott Great info!

@Marco Bario someone else mentioned TCF recently. I think I will reach out to them. Do you recall if they have a limit on the amount of mortgages you can have?