All Forum Posts by: Mo Weis

@Bryan Cress 2% rule is hard to come by at this point. Good analysis on the mortgage. He wrote 30% down which is about 474k and interest only payments going to be less than 2500

Lots. East side or west side?

semabuilders.com

I used mls - syndicated to multiple sites. Best lead came from an agent (I am one as well) and was def worth the months rent it cost.

<C    100k+ for 1200 in rent? Can get that for a bit more in a b area and more rent. Another issue is the management of property in the area. There are many companies who won't manage there. 

plumbing seems  high (valve replace). Is property in Cleveland area

Refinanace

If this is your first - bring in a partner. Better to give up some equity and learn the process than try alone. You can then use this experience to purchase others.

1. title company should be paying that off.

2. pre approval - can be done in a day and doesn't cost

3. Speak to your cpa. General rule is if you lived in primary residence for 2 of last five years 250k is tax free for individual and 500 for married. 

Hope this helps..

@Account Closed doesn't hurt to start looking now and get a feel for the market. Depends if  you are ok with paying a lease at the same time as owning. I tell my clients 2-3 months. A few weeks for a serious search and 30-45 days for closing. Much further the  that and then you may have issues with rate locks. Also would suggest getting a hard approval (vs.  a standard pre approval) so that are good to go. (Also gives you an advantage in a multiple offer situation). 

Good Luck on your search!