自從去年打算買投資房以來，一直在這裏學習前輩的經驗。
昨天剛剛簽了一份refinance,是去年8月買的第一個投資房。用英文打字比較快，大家將就一下。
refinance, 0 lender fee, I paid appraisal, lender policy, escrow and misc fees about $1450, rate 3.75%. As we paid 50% down last year (which was silly, but for a reason), so we decided to cash out some as it's appreciated. So now for paying about $135 more every month, we will received a cash out of $38k.
The property is in one of the best school district in the area, rated 10 on greatschool.org, built in 1996, 1273sqft, 3bed 2 bath, BoA owned last year, we won the bid with $108k, meeting my requirement of not backing up on a road, N/S exposure, 1 level, no pool, no powerline around it. We didn't pay inspection though, as it's not a too old house. My hu*****and went up to the attic to check out any bug sign on wood frames or water stain, found none. We shut all water faucet and checked the water meter, not turning, so concluded no leaking. Then we moved on with home warranty paid by the BoA.
We spent about 6k to fix everything, including converting the landscaping. I wasn't sophiscated enough for the 1st investment house, so it took a pretty long time to get the repair done, one of the reasons was I'm too picky on everything and wanted to wait till everything done before showing, so there was almost 2 months vacant time before it was rented out. It took much less time afterwards, lessons learned :)
After I posted it on craiglist, a guy called, but I was about to go on a trip. So I passed this to my agent to handle the background check and lease. I paid him the listing agent part of fees. The tenants are a couple who were short saling their own house at that time, with excellent records except the short sale. It was too hurry for me to sign any documents to my agent before setting off, so I had to spent a few hours beside a national park to sign the lease and email back to my agent.
After I was back to town, I contacted the tenant and made a visit to the house. I brought a box of chocolate as welcome gift to meet him and his elegant wife, and a big dog, Golden Retriever. They live in an very clean way and have been keeping the landscaping well. Now they ask for a renewal of the lease for another year, but they did say they would want to buy their own house once they fix their credit.
Once again, I'd like to thank you all who have contributed to the forum day in day out.
