Refinancing three of the rental properties this month, then transferring those 3 into a new LLC that I will own 50% with a partner. I'll be pulling a large chunk of cash out which is the equity produced by these three houses over the past couple years. The great thing is that all houses were purchased with an average of 8% down...placed on 10 year payment schedules...and an average of 4 years later I am paying myself back for all down payment plus taking out an additional $10k and have a $20k credit with my fellow investor.
Debt-to-assets = 47.54%
Primary = 15 year, 2.825% fixed, 15 years left
Rental #1 = 15 year, 3.875% fixed, 10 years remaining (April)
Rental #2 = 30 year, 4.75% fixed, 26 years remaining (July)
Rental #3 = 15 year, 3.875% fixed, 10 years remaining (April)
Rental #4 = 30 year, 5.125% fixed, 23 years remaining (Sept)
Rental #5 = 10 year, 4.125% 3 year balloon, 9 years remaining
Rental #6 = 10 year, 4.125% 3 year balloon, 9 years remaining
Legend:
"Bonds" = Personal Emergency Fund
"Annuities" = Investment Property Savings (minus security deposits)
"Other Assets" = Health Savings Account
"Other Real Estate" = Investment Properties (current market values)
"Other Mortgage" = Investment Property Mortgages
"Other Debts" = Hard money loan for rental property rehab |