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My gut is tempting me to ReFi and take the cash to invest in add'l income producing RE
Posted on 1/19/22 at 5:44 pm
Posted on 1/19/22 at 5:44 pm
Like most everyone, I feel that mortgage interest rates are about to move. Does ReFi-ing and usiing the funds vs. cash on hand funds seem prudent? Does leveraging at 3% rate make sound financial sense? What percent of return on the borrowed money does the board think would make such a decision attractive? Other than the rough ride in 2008, I have a solid track record in RE and Const. I live in a popular re-locate destination. I could borrow money against the individual properties but prefer to hold on to the 3-4% difference that I would have to pay. Refi or spend the cash, what says Money Talk?
8
Posted on 1/19/22 at 5:54 pm to LaRougarou
quote:
Does leveraging at 3% rate make sound financial sense? What percent of return on the borrowed money does the board think would make such a decision attractive?
No less than 6% return would be ok for me if I am paying 3% i need at least $1 for $1
Posted on 1/19/22 at 6:03 pm to LaRougarou
Hard to argue with moving it to income producing.
Posted on 1/19/22 at 7:21 pm to LaRougarou
quote:
Like most everyone, I feel that mortgage interest rates are about to move
That have already moved up significantly
Posted on 1/19/22 at 10:00 pm to LaRougarou
Buy, improve value, refi, deploy equity
Rinse and repeat.
Rinse and repeat.
This post was edited on 1/19/22 at 10:02 pm
Posted on 1/19/22 at 10:10 pm to SDVTiger
quote:
That have already moved up significantly
this lolp
Posted on 1/19/22 at 10:33 pm to barry
I just went to underwriting last week, this will be my last refi on my current home as the rate is 2.25%, with a full doc, cash out loan. Any bigger loan amt comes with JUMBO / JUMBO rates. I am taking out about 95K to repay back some of what I already put into the house and the rest for smart investing.
Money at 2.25% is free money as far as I'm concerned.
Money at 2.25% is free money as far as I'm concerned.
Posted on 1/20/22 at 8:00 am to oneg8rh8r
With who?
Posted on 1/20/22 at 10:20 pm to geauxnc0308
UWM united wholesale mortgage, brokered through Home plus mortgage.
It is a VA full doc, cash out, refi. My rate was already at 2.25%, I simply increased my balance by about 90K, same rate and HPM covered my costs of the loan. VA fee is waived due to VA rating.
It is a VA full doc, cash out, refi. My rate was already at 2.25%, I simply increased my balance by about 90K, same rate and HPM covered my costs of the loan. VA fee is waived due to VA rating.
Posted on 1/21/22 at 10:42 am to LaRougarou
Depends on several things:
- where you live as to what the renters will be
- Are you handy
- Do you trust the government to not make it harder for the average joe that has one or two rental properties?
- where you live as to what the renters will be
- Are you handy
- Do you trust the government to not make it harder for the average joe that has one or two rental properties?
Posted on 1/24/22 at 12:41 pm to LaRougarou
Rates will keep going up but depending on your goals, refinance is still a very smart option. If you are a veteran, rates are in 2s but for the rest, most are in the 3s. Still very good rates and with equity increasing, might be smart to take the cash our refinance to pay off debts or get cash for another property. Reach out and I can give you some quotes and some options username @gmail.com
Posted on 1/24/22 at 2:26 pm to LaRougarou
cash out rates are between 3.5%-4% today. they are not coming down anytime soon.
Posted on 1/24/22 at 9:35 pm to LaRougarou
I would NEVER leverage my home to invest. You do you and good luck.
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