Jul 14 2008
Whew. Okay so I finally got the refinance loan done on my homevestors rehab deal.
I am sad to report though that after taxes and insurance, this property will have a negative cashflow of about $140/mo. So it’s in my interest to liquidate this one as soon as possible and see exactly how much of that $30k in equity is real.
All in all, it has been a simple, relatively stress free transaction.
$ 500 down
$2,700 loan payments
$ 693 refi closing costs
$3,893 – Total Costs
$122,500 – Outstanding Loan