Posts with tag 'investments'
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How to Remove PMI Using a Home Appraisal or Broker's Price Opinion
This Feels Illegal to Know…
How to Remove PMI Using a Home Appraisal or Broker's Price Opinion
Private Mortgage Insurance (PMI) can be a costly addition to your monthly mortgage payments, especially if you purchased your home with a down payment of less than 20%. Fortunately, if your home has appreciated in value due to market conditions or improvements, you might be eligible to remove PMI by demonstrating increased equity. Here's a guide on how to leverage a home appraisal or broker's price opinion to eliminate PMI.
* Understanding PMI and Its Impact
PMI is designed to protect lenders in case o...
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Live-In Flips
Flipping Houses
Investing can take all different forms. It can be as simple as taking care of your home and being willing to move every couple years as your home appreciates, to renovating an entire home and flipping it for a profit. My husband and I never intended to get into flipping houses, but the opportunity somewhat fell into our lap and we decided to run with it.
How it started:
My husband and I were travel nurses. When we first started traveling, we had a house that we rented. As a travel nurse, part of our income was our hourly pay, but the other part was a housing, gas, travel, and meal stipend that remained tax-free as long as we maintained a tax residence elsewhere. It didn't make sense to continue to pay rent on a house we technically weren't living in,...
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My Journey from First-Time Home Buyer to Real Estate Investor
Imagine you wake up two and a half years from now with $70,000 worth of equity in your first home. That home is now a rental property and has created a passive stream of income for you. This is exactly what has happened to me and I'm going to share how.
I started small, buying a home I could comfortably afford. It wasn't glamorous - just a 800 sqft, two bedroom, 1 bathroom home in Roanoke City. With just 5% down payment, I was able to secure my first property and start building equity instead of paying rent to someone else.
Fast forward two and a half years, and an off-market opportunity presented itself. So, with another 5% down payment, I purchased my next home in Botetourt County allowing me to keep my first property as an investment while upgradi...
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