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All Forum Posts by: Michael Corbin

Michael Corbin has started 2 posts and replied 3 times.

Mortgage Brokers & Lenders

Post: Using a reverse mortgage to invest with

Michael CorbinPosted
  • Posts 3
  • Votes 0

I have a Heloc on my personal house.  I used that money to purchase a 2 family . Now that I'm turning 65 soon by God's grace, I am thinking of taking out a reverse mortgage on my personal house which will pay off my Heloc and first mortgage.  I wont have to make any payments.  What are your thoughts.

0 Votes
Multi-Family and Apartment Investing

Post: pulling out cash from my first 2 family investment.

Michael CorbinPosted
  • Posts 3
  • Votes 0

Hi Charles, 

That sounds like really sound advise. I was thinking that my next deal should be a fix & flip using hard money, or a regular bank mortgage. this way I can pay back my HELOC. Another thing I'm thinking of doing is purchasing a 2 fam from an investor friend of mind who is willing to hold the mortgage. Your thoughts please

0 Votes
Multi-Family and Apartment Investing

Post: pulling out cash from my first 2 family investment.

Michael CorbinPosted
  • Posts 3
  • Votes 0

Hi 

I recently purchased a 2 family property fully rented for 55K. I used the HELOC on my personal property to purchase all cash. there's no equity, I just bought for the cash flow. I'm thinking of pulling out cash on the 2 family. Is this a good idea ?

0 Votes