I would like to hear your opinion on the subject of Refinance
Hello, I would like to hear your opinion on the subject of Refinance
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I own a house that was purchased six months ago without a mortgage. In practice I repay a loan to the family every month, but from the point of view of the bank the house was bought in cash without loans. I also repaired the house immediately and I think I can get a higher estimate of it now.
1- Should I mortgage the house to buy another property?
2 - Will assessing a property after renovation also raise taxes on my current home?
3 - What percentage of home value can you get refinance?
4 - Are LLCs also supposed to include the first home which is for the benefit of family residence?
5 - How does one set up an LLC before purchasing or after purchasing the investment property?
6 - Is it better to mortgage my home to fund a deal or take cash from someone else who wants to invest and add a mortgage to my name? Let's say somebody put 100 in there and I add 200 in a mortgage.
Thank you!
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I'm not sure that my friends here can know if taking such a loan is the right step for you. In general, if the numbers work, then yes. That might be a good idea. I would only go for low risk according to your type of questions. Please note - depending on where you buy, you will have to pay transfer tax every time there is a change in ownership so you don't want to buy a property in your name and then transfer it to an LLC - if you don't have to. Yes it is possible to start the buying process before you have an LLC. I recommend that you get the assistance of a lawyer or work with someone experienced on the first property.
Polina Broitman
I think it's almost always 🙂
But you should make sure that the rent you receive will cover the loan you take at least.
2
Yes, she'll pay you the arnona.
As soon as it was reported to the municipality.
3
A local resident can take up to a percentage 80 in a regular bank. The forum here said that a foreign resident can take 65%
4-No
5 - Better before, although in practice you can follow
6-
This very much depends on the difference between the deals. Probably at a stage
The initial
You will be able to get more significant leverage against the property where you live, since you can also take out a second mortgage on the house (HELOC)
Hope I helped 😉
Polina Broitman
I think it's almost always 🙂
But you should make sure that the rent you receive will cover the loan you take at least.
2
Yes, she'll pay you the arnona.
As soon as it was reported to the municipality.
3
A local resident can take up to a percentage 80 in a regular bank. The forum here said that a foreign resident can take 65%
4-No
5 - Better before, although in practice you can follow
6-
This very much depends on the difference between the deals. Probably at a stage
The initial
You will be able to get more significant leverage against the property where you live, since you can also take out a second mortgage on the house (HELOC)
Hope I helped 😉
You're a foreign resident?
You're a foreign resident?