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matt
ParticipantFor me, its the above dynamics that are potentially keeping prices down and making investment compelling. It took Columbia many years but they eventually overcame the violence. I believe Mexico will do the same.
May 4, 2013 at 7:59 PM in reply to: Why it no longer makes sense for young people to pay off their mortgage early #761793ParticipantI am 36 (i consider that young :), currently working overseas with my former NCC primary home now rented. I still owe 400K on the property which likely appraises today at 950K or so. I bought in 2010 and have struggled to refi as it is very difficult to close a loan when you work for a non-US company overseas (despite having verifiable tax returns, pay stubs, etc)… so my current loan is 4.75% and payment 2600 / month, renting at 4K / month. I am thinking about paying this off to #1 assure my family a roof over our heads should we ever need it, #2 call me conservative but a guranteed 4.75% for me is a decent return. With the property paid off worst case i have an asset cash flowing me almost $3K / month and the security of a beautiful home in a great schol district to live in should we ever need it, with the sole pressure of generating enough income to pay for property taxes, bills, and food to provide a decent life for my family. This for me is compelling as I know life throws punches and i may not be able to generate the cash i can today in the future.
ParticipantThe rate i am getting is for investment not owner occupied property. Without the paydown to 417 the best i can currently do is a 4,5 refi, partially due to my credit being dinged a bit due to 2 small bills lost in the overseas move. The tenant was identified/screened through my realtor (who is managing the property) and was downsizing from a large estate in olivenhain but wanted to keep children near friends and schools. The home is 4000 sq ft LC oaks built in late 2004. I have seen higher rents achieved but am appreciating the fact that so far no issues and paying on time.
ParticipantI’m close to renting my LC Oaks home for 4200/month, 5K security deposit. We’ve had several interested parties. Have also talked to a couple of folks that are looking to downsize from large expensive to maintain Olivenhain estates but keep their kids in the same or similar schools.
Hope to be somewhere north of cash flow neutral which will be a great relief and we love the idea of having a tenant pay the mortgage on our dream retirement home. Am getting the house power washed and the windows done as i type. Hoping the karma pays off and we get a great tenant…
ParticipantI’m close to renting my LC Oaks home for 4200/month, 5K security deposit. We’ve had several interested parties. Have also talked to a couple of folks that are looking to downsize from large expensive to maintain Olivenhain estates but keep their kids in the same or similar schools.
Hope to be somewhere north of cash flow neutral which will be a great relief and we love the idea of having a tenant pay the mortgage on our dream retirement home. Am getting the house power washed and the windows done as i type. Hoping the karma pays off and we get a great tenant…
ParticipantI’m close to renting my LC Oaks home for 4200/month, 5K security deposit. We’ve had several interested parties. Have also talked to a couple of folks that are looking to downsize from large expensive to maintain Olivenhain estates but keep their kids in the same or similar schools.
Hope to be somewhere north of cash flow neutral which will be a great relief and we love the idea of having a tenant pay the mortgage on our dream retirement home. Am getting the house power washed and the windows done as i type. Hoping the karma pays off and we get a great tenant…
ParticipantI’m close to renting my LC Oaks home for 4200/month, 5K security deposit. We’ve had several interested parties. Have also talked to a couple of folks that are looking to downsize from large expensive to maintain Olivenhain estates but keep their kids in the same or similar schools.
Hope to be somewhere north of cash flow neutral which will be a great relief and we love the idea of having a tenant pay the mortgage on our dream retirement home. Am getting the house power washed and the windows done as i type. Hoping the karma pays off and we get a great tenant…
ParticipantI’m close to renting my LC Oaks home for 4200/month, 5K security deposit. We’ve had several interested parties. Have also talked to a couple of folks that are looking to downsize from large expensive to maintain Olivenhain estates but keep their kids in the same or similar schools.
Hope to be somewhere north of cash flow neutral which will be a great relief and we love the idea of having a tenant pay the mortgage on our dream retirement home. Am getting the house power washed and the windows done as i type. Hoping the karma pays off and we get a great tenant…
ParticipantJust wanted to thank you all again (earlyretirement and others) for taking the time to make many constructive comments. You’ve definitely given me a lot to think about. If I make any short-term decisions I’ll let you know.
ParticipantJust wanted to thank you all again (earlyretirement and others) for taking the time to make many constructive comments. You’ve definitely given me a lot to think about. If I make any short-term decisions I’ll let you know.
ParticipantJust wanted to thank you all again (earlyretirement and others) for taking the time to make many constructive comments. You’ve definitely given me a lot to think about. If I make any short-term decisions I’ll let you know.
ParticipantJust wanted to thank you all again (earlyretirement and others) for taking the time to make many constructive comments. You’ve definitely given me a lot to think about. If I make any short-term decisions I’ll let you know.
ParticipantJust wanted to thank you all again (earlyretirement and others) for taking the time to make many constructive comments. You’ve definitely given me a lot to think about. If I make any short-term decisions I’ll let you know.
ParticipantThank you all for you thoughts and comments. What would I do with the cash if not pay off the house? I’ve thought about trying to build a small real estate portfolio. I also have 2 young kids that may need help with college one day so i’ve thought about opening 529s, purchasing long term care insurance, or investing in the markets.
My other assets roll up to about $200k and are sitting in funds in my former 401k as well as former company stock. While i’m clearly very very fortunate to be in this position of accumulating cash, i’ve been parking my current earnings in low interest CDs/savings accounts due to a concern that this assignment may not play out long term… and the fact that I could be back in the US unemployed at a moments notice.
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