Update
Posted on June 15, 2005 - Filed Under Housing |
I found out that my escrow will be 45 days. That puts me at taking posession of the houses at the beginning of August.
The loan I qualified for is for first time buyers. The caveat is that I must reside at the residence. That’s a bummer because it’s not following the Rich Dad plan.
My intentions were to rent both houses out. I figure between the two, I might be running at a negative cashflow for a few months. But after the first refi went through, I could lower the monthly payment and at least break even. And with the rents I’ve seen in the area, this is entirely feasible. Because these are houses and not apartments, I can always ask for a few hundred more and get it.
Provided the tenants are willing to pay.
If you liked that post, then try these...
Sterlized on November 9th, 2006
First my apologies for missing yesterday.
In the middle on May 23rd, 2007
In the middle of all this, an email floated into my box.
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