All Forum Posts by: Ravindra Gandhe

@Alexis DalPont

Cashout refi is my favorite play!😀

Sure. We do property management as well. For upgrading bathrooms, I will ping few of my contacts and see if they can help us. 

This sounds like a good deal. I like town homes, condos as we need less maintenance on those outside the property. Looks like you are on the way to adding more keys to your wallet. You should hold on to it and add another property. 

We are using eRentPayment.com. It is ACH deposit and it has various rules to set up for late payment and recurring payments etc. Works pretty well for us. 

I think you are staring at a great age. By the age of 25-30, think where you would be? You can see few areas in Riverside that are close to Anaheim and you can get good deals. There would be struggle to close the deal but not impossible. You can always enter market at this down payment, with some struggle, you can close first deal. Once that happens there would be no stopping. I think first thing first is to work with Realtor and a lender/mortgage broker. Once you get those guys on your team, you will be best equipped to achieve your goals. 

I am a realtor. I am thinking of creating a whatsapp group for my potential clients. So idea is that I would post my favorite deals and some information / material there. So few of those would buy or sell house with me. What do you think? Another thought is that if another Realtor joins and gets my clients and efforts? Any thoughts? Thank you for chiming in!!

Are you asking that having FHA loan would restrict you somehow to rent an extra room?

Currently you can get 2 or 3 bedroom home in Riverside area. If that works for you and renting a room there to UCR student, that could work out, if you are close to UCR. 

I have been in similar situation to debate sell vs refi. 

To compare pros and cons can get you to good solution. You are right that this does seem to be a good time to buy so that is con for Sell. 

Refi will give you 75% of what you would get from the selling. 

So compare like this, lets say if you sell, the difference between selling price and current debt is 100K. You would spend about 3to5 % on fees in selling. So you would walk out with 95K. 

If you refi it, You would get 75K with with cash out and say 2000 is cost of getting it. This way you get to keep your place for which you know the history of last 15 years plus you enjoy all the improvements you did in that property. 

Now decide is it worth selling for 20K extra?

@Alfredo Aguirre I think Corona, Chino, Ontario could find you better rent, it will be higher than Perris. More you move closer to freeway 5. You rent increases.