When buying your first investment property, something to think about is the possibility of being a property manager or maybe hiring one if being a landlord is not appealing. Research is crucial when buying investment property, so learn what to look for when buying land with tips from a financial planner in free personal-finance video. Expert: Julie Asti, CFP Bio: Julie Asti works as a financial planner for Asti Financial. Filmmaker: Bing Hu Video Rating: 5 / 5
Kenn Renner discusses the real estate investment climate of Austin, TX in a seminar. For more information, go to www.buyaustin.com Video Rating: 0 / 5
Question by SFB: Should I refinance first or buy a house first?
I have a house that I use as a “second home” and I’d like to refinance that for a lower interest rate. Additionally, I’d like to purchase a house for use a primary house. Ideally I’d refinance the house first and take some money out for more down payment on the new house (but even after that it will be 70% LTV). But I could get by without doing that.
Will the refinance affect my credit in qualifying for the house purchase? Is it better to purchase first, and refinance second?
A secondary question – I rent out the “second home” about 10 months a year, can I still call it a “second home” for the purposes of the refinance or is it an “investment property”? My goal is to eventually move into the “second home”, but that’s at least a few years away.
Best answer:
Answer by Denny if the 2nd home was originally financed when it was your current (primary) residence, i wouldn’t touch it. your interest rate will be alot higher if you try to refy a seconed residence. just concentrate on the main home for now.
Know better? Leave your own answer in the comments!
Facts
- Conveniently located, the property is just a short 15 minutes drive to Sydney CBD and a short 8 minute drive from Sydney Airport via the M5 motorway
- Sales evidence in Estate of $689,000
- New market sales from $615,000
- Valuation confirmed from $575,000
- Buy from PRE exclusively in the next 14 days for $540,380*(Exclusive price for PRE Clients ONLY)
Product Description This VHS tape was part of a Carlton Sheets Real Estate Program I bought 4 years ago, the video has plenty of information that can be used in a real estate venture today…. More >>
Facts
