All Forum Posts by: Sean Kuhn

Its easier for everyone to do a cut and dry interest rate. Figuring cash flow can lead to problems and disagreements. I would just agree to pay them the fixed amount and that's it.

@Bob E. That's a great quote and great advice. So many people step over dollars to save pennies when it comes to taxes.

I've found that, but most are 3 or 5 year arms. If that 6 percent is locked in for 10 years, that would be hard to find.

What are the terms of repayment? Length/caps?

@William Brace is right. Both my locs were free of charge to set up.

My bank offers the option of turning the balance into a fully amortized 15 year mortgage with the current interest rate locked in anytime I want for 50 dollars. If I pay the mortgage off early it turns back into a HELOC

I don't know why everyone says a HELOC can't be used as a down payment. I've worked with three different banks that allowed a HELOC as a downpayment. It is skin in the game, a loc is a collateralized loan. Try a portfolio lender. Google it for your area and names will pop up.

I'm right on the edge of rural, just how I like it. Its cheap enough that the numbers make sense and close enough to the big city that vacancies are short. There are some cheap apartment complexes 30 or 40 mins south of me but I won't touch them because I think vacancy will be high.

I can't remember the last time I bought something that wasn't a foreclosure.

@John D.

I do the same thing. I own a landscaping business in Illinois and in the winter down time I try and purchase a rental or two. It works great.