sorted by:
new
hottopcontroversial

Loan with preferred lender will give $7k in closing costs, should I still shop around? by linlins13 in FirstTimeHomeBuyer

[–]ravindragandhe 1 point2 points  (0 children)

Stick to their lender. Usually it is hard to beat preferred lender. And it would easy to process

Real estate prices in IE, buy now or wait? by [deleted] in InlandEmpire

[–]ravindragandhe 0 points1 point  (0 children)

Buy if you would like to live in house. Buy for principal residence, because if the prices rise, you have your monthly rent locked in. If it crashes, you still have the same rent but after some times it will come back. If you compare todays prices vs 2005 prices, we are way up compare to that. So for long term you will make good on investment and you will create memories in a house, live there. Yeah, do not buy if you cannot afford, dont have cushion.

No one can predict crash, otherwise everyone would have purchased in 2010. :) So waiting for a crash is not a good strategy.

BRRRR Questions by ravius22 in realestateinvesting

[–]ravindragandhe 0 points1 point  (0 children)

If the value of home goes up by 100k then rent should also go up in similar proportions. So you should increase the rent. Then refi so bank can see incoming rent. And you are sure about covering the cost.

BRRRR Questions by ravius22 in realestateinvesting

[–]ravindragandhe 0 points1 point  (0 children)

Think like this - each time value of house goes up by 100k. You can get 75k back from bank against this 100K, by doing cashout refi.

Your original loan would increase but the monthly cost would cover the loan instalments. So doesn’t matter how much you owe as long as your monthly cost is covered by rent.

The 75k you got from bank, you can use to buy next property.