Your apartment does not need a swimming pool, gym, club house, etc.

The only way to find OPM is by jumping in the pool. 

Pool use fee.

Each and every day the tenant pool gets worse. 

It was this quasi-pool hall bedroom situation. 

Hey guys, so I was wondering, is there a name for when about 4 or 5 people pool their money for a flip, work on it together, then split the profit?

These areas have the best combination of cash flow, appreciation potential (never guaranteed), exit options (you might be able to sell to an owner occupant rather than another investor down the road = higher sales price), and stably-employed tenant pools.

It's a tremendous opportunity but I think the only activity in Real Estate that comes with more risk than this, is doing brand new construction so the pool of banks interested in this kind of opportunity will be small, even before asking for all the payment relief.

Loan is now due to adjust to 5.125% and my monthly payment would jump up around $100/mos if I stay with current mortgage provider (who I detest).Details...3/2.5 townhouse in trendy, walkable class A areaOriginal purchase price: $142kCurrent value: ~$300kBalance owed/payoff amount: $112kCurrent monthly PITI: $820/mos @ 3.875%HOA: $390/mos (includes water, trash, sewer and all exterior maintenance + pool and clubhouse access)Option 1: refinance with new lender4.375%, APR 4.663% - 30 year fixedPITI: $840/mosHOA: $390/mosClosing costs: $4-6k (lender says these will be rolled into the loan/absorbed by appreciation so my out of pocket will be very little)I’d been moving ahead with this option but noticed that I’d be paying $30k in interest over the next 5 years and the total interest percentage over the 30 year loan would be 79.92% :(Option 2: pay off loan balance of $112kMonthly payment: $390/mos HOA + insurance and utilities other than water, trash, sewerI’d still have six figures+ of cash reserves after paying off the loan Save $30k+ in interest plus $4-6k in closing costsOption 3: allow loan to adjust to 5.125%PITI: $950/mosHOA: $390/mosNo closing costs, still paying principal down at a good clipDownside here is that it can keep adjusting up every year and I detest my current loan provider, so I hate to keep giving them my businessI know many will recommend a cash out refi to buy more property or invest, but I already have ample cash from selling a property and my portfolio is in a good place where my rentals cover my monthly expenses if I were to quit my W2.

It’s tax refund season, so you should have a nice pool of renters who have recently gotten a sum of money.