All Forum Posts by: Stanley Lo

I qualify for conventional so I can go either way. Just looking for the right match of fees and rates for the next 5 years for my Short Term Rental. I can't care if it's Home Equity Fixed, conventional mortgage, DSCR, HELOC, or other creative refi as long as I'm good to go for the next 5 years.

I have two mortgages that will adjust in March 2024 and one more in March of 2025.

I'm thinking of waiting until closer to the adjustment date to pull the trigger.

Option 1 - Full refinance cons-- expensive and high rates

Option 2 - HELOC -- perhaps inexpensive fees and higher floating rates

Option 3 - Do nothing and let the mortgage adjust.

House 709 -- First adjustment is only $200/mo more. Manageable. This house is currently listed for sale but I'm patient with the sale even if it takes a year to sell. (215K debt value 580K)

House 2421 -- First adjustment costs $700/mo more. Ouch. Plan to keep this longer terms as an Airbnb. (also 215K in debt value 480K)

House 15911 -- Currently a HELOC with a 2.75% rate that will unlock in 2025. (271K in debt value 480K)

I would like to minimize monthly payments if it makes sense with the fees.  Alternatively, I could cash-out refi and put the cash in a debt fund.  Just looking at options and what the current status looks like.

SFH Investor in Vancouver, WA.

.

Thank you all for your help.  There's a lot to digest here.

@Scott Trench, if I were to pursue whole notes or fractions/partials of whole notes where would I start?  I noticed that Marshall Reddick does whole notes.  But I'm not sure if they are the best platform.  Any ideas?

Who do you recommend for Note Fund investment?  I'm an accredited investor thinking of parking 50-100K for 6-12 months.  I'm looking for higher yield alternatives to CD with very low risk.  I've looked into PPR, Marshall Reddick, GroundFloor, Alpine, and 7e.  Most funds have not been through the 2008 cycle.  How do I know that my money will be well taken care of?  (ie to not lose value and not be held beyond maturity date)  Any ideas?   

I'm looking for a Real Estate Tax Advisor for my rentals and management.  I need help in looking over tax return.  I also need help with the best way to plan my next 20 years of investing.  A remote tax advisor is fine.  I need someone who is good and not terribly expensive.  Any ideas?

Just a little info tweek -- 80 LTV on $450K home is $360K. As you owe $350K, the HELOC line is only 10K. However, look into Columbia Credit Union and see if they still do 100% LTV for a full 100K line. I suspect that you might be paying Private Mortgage Insurance. From recent appreciation, I'm guessing you may have put less than 20% down on your original mortgage. See if your lender could remove PMI. I do like the HELOC idea since the cost to sell the house is about 10% of the sale price. (Excise Tax, realtor commission, and other fees). Also please do calculate the total payment on the house, 1st mortgage + HELOC and see if the house still cash flows as a rental with property management. If not, see if you can absorb the shortfall.