All Forum Posts by: JP A.

How much could foundation repair cost? Did you get a few estimates?

Thank you everyone for the welcoming! I appreciate the feedback and guidance thus far! Yes, I can and definitely want to check out the Princeton event. I will look at registration.

Hey Justin, I suppose you are right. Here are the details: Home 1: balance $298k @ 4.625% purchase price $350k. Value $375? PMI $120 Home 2: balance $474k @ 4.125% purchase price $510k, value probably 6ish? PMI $318 For home 2, I would love to get rid of the PMI, if I refi I should be able to be above 20% equity given the increased value of the home.

Hi BP world. I'm new here and have spent a good amount of time listening to the podcasts, starting at episode 1. I've found the information to be excellent. I've read two books on Note investing as that seemed interesting to me. I currently have a home that I rent out to a family. Their rent pays the mortgage and leaves me with a little bit left over each month. Deep down, I've known the smart thing to do was to get someone to pay your mortgage, but it didn't really click until much later in life - better late than never.

I'm still trying to sort out my strategy and where I want to start. Right now, I am interested in networking and meeting other investors to see how they have been successful.

I am curious about what modeling tools others have used to weight their investment options.

And I live in Monmouth County, NJ

PS - I am a big BMW fan, I'd be happy to chat about cars to anyone that will listen / talk.

Hi, I need some advice. Here is my 'situation:'

1st home is currently rented out to a tenant. Their rent pays my mortgage and taxes and I clear an extra $200 per month from that property. I still owe money on my mortgage, and I am paying PMI each month.

2nd home (my primary residence) also has a mortgage. I put 10% down, made improvements, I would imagine the appraised value is now higher than what I bought it for.

My questions are as follows:

• 1. Should I take the extra $200 per month and apply it to the principal of the first home balance? Should I apply it to the principle of my primary residence? Or just save it?
• 2. Does it make sense to refi the 1st home to a lower rate, and get rid of the PMI. This would arguably free up more cash per month from rent.
• 3. Since I made improvements to my primary residence, would it make sense to refi since equity should be much higher than 20% now and get rid of PMI? Refi'ing costs money, not sure if it is worthwhile doing.
• 4. If I do refi both, that frees up extra cash - what could / should I do with the extra? Pay down principal? Use it to fund some other investment?

Congrats! Great story!