Several rental rehab projects going on this month. Refinancing to lock in lower rates and upgrading several properties so I can increase rents. When I'm done with all the refinancing/rehabbing I should end up with 2 paid off properties and should increase cash flow quite a bit. I plan to then go back with a line of credit on both those houses so I can use them to purchase/rehab myself when a deal comes along. Using traditional financing just requires too much of a down payment each time. I just can't get interested in buying anything where I have to put 20% down anymore. When I use my own money, rehab them, rent them and then finance them (still making sure they cash flow each month) I normally only have to put 0-5% down which makes much more sense to me. I should be able to pay off 2 more properties over the next 4 years with the increase in cash flow and some "contributions" from our income. Would love to pay them off as soon as possible though. Goal is to have everything (except the partnership) paid off within 10 years.
Projecting debt-to-assets = 56.43% |