All Forum Posts by: Sean Pour

@Abraham Thanks! How can I find the seller's agent contact information?

@Gong Gong Gu Thanks. She offered up to go out there and take a look. She thinks the price is too low, there must be something going on. So I take it as she thinks this is not a good investment yet.

I am looking to buy a property and am using an agent that I have worked with before and I am happy with how it went. However a discussion occurred today that I am not sure how to interpret. I asked her if a subject property is a good investment and she refused to answer mentioning that her license does not allow her to make judgment call. Was what I was asking a judgment call? Is she being too conservative or she is being reasonably cautious and really restricted by her license to only share facts. Thanks!

Thanks Harjeet. I can get a slightly higher rate to offset refinancing costs and stay at about $100 cash flow positive. Do you still recommend to keep the 30 year fixed?

Hi,

I own a condo with 75% Loan-to-Value which is currently in negative $90 cash flow (excluding the tax benefits and expected appreciation) with a 30-year fixed rate mortgage. With the rates slightly lower now, I can refinance to 7-year ARM and lower the monthly payments by about $200 to reach at a positive $120 cash flow. However, I am looking at this condo as a retirement investment and planning to keep it long term. Is refinancing a good strategy to stay in the positive cash flow at least for the next 7 years and sell it if the rates are too high after that? Or I should stick to the existing 30-year fixed mortgage to avoid fluctuations in the monthly payment to keep it for retirement? Or the third option would be selling the condo as a primary residence in the next couple of years. Let me know your thoughts and what would be the right strategy? Thanks!