All Forum Posts by: Lisa Beard

Has anyone successfully completed a cash out refinance on a second home or investment jumbo loan? My standard lender won’t go above jumbo for this, but our home will appraise for much more and I would love the cash to continue investing.

Thank you!

Were you ever able to get an answer to this? I just purchased a home in downtown Gatlinburg with an extra lot attached. I would love to add a tiny home or two.

@Keith Dowdy hi Keith! I’d love to talk to you about your experience in Beech Mountain and possibly get some realtor recommendations. We have two in Gatlinburg and two in Folly Beach, SC, but are always trying to take advantage of the 10% down second home loan and find new, surrounding markets.

@Dave Foster thanks, Dave. I thought about that - may not be worth it. But your number 2 and 3 points could certainly work. I appreciate the input!

@Bill Exeter thank you! Any idea how much additional costs? Trying to weigh putting the other property up immediately to try and do a standard exchange vs giving the tenants until after the holidays and fixing up a few things.

If I am planning on a 1031 Exchange, can I close on the new property before I close on the old one? I would basically float the money for the new house until the money from the old house comes in. Any idea if that would work or not?

@Fradel Barber absolutely! Good luck :)

@Fradel Barber I used a regional bank (Southeast) - South State Bank. They just merged with Centerstate bank, so they may be able to do the same.

@Stephanie P. I ended up finding a lender that would do 15% down, so that was nice! Thank you!

I have a long term rental and two short-term rentals. The long term seems like they are always wanting us to come in and fix things. Currently there is a dead tree in a neighbors yard. My tenants are worried about it falling in their house. The landlord in the neighboring house said he will not remove it, but I can pay to have someone remove it if I want to. Now my tenants want me to pay to have it removed. Am I liable if something happens to the neighbors tree? There are limbs falling every once in a while, so we know it’s dead.

Thank you!