Monday, June 16, 2008

Figuring out the next step

So, my house is rented out. 2 year lease, and the tenants are interested in purchasing, possibly after one year (but I imagine it will be 2 years.).

So - this is good. However, my cash is tied up in the house now, and I can't refinance for 18 more months without a 6 month interest penalty payment.

What I need to do is crunch the numbers to see if it is worth it to take the penalty hit in order to get my next house and flip it.

I have decided no more 2 bedroom/1Bath homes unless there is room enough to add a 3rd bedroom.

Friday, June 6, 2008

House is rented out

Got my house rented for the amount I need, which is good! These tenants have a 2 year lease, and they want the option to purchase, so this will probably work out quite well.

Once I get my finances righted around, it will be on to the next house!