Ask Marco - Keep or Sell a Fire Damaged Property, Can I Lose Depreciation, Refinancing to Save, Financing for Non-US Citizens | PREI 441
Aug 9, 2023
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Topics discussed in this podcast include: the challenges of manual processes in real estate investing, the inspiring story of Natalia and her journey in real estate investing, the importance of research and due diligence in navigating the real estate market, and financing options for non-US citizens in real estate.
Refinancing may not be beneficial if you already have a low interest rate on your mortgage.
Repairing a fire damaged property and utilizing insurance coverage can result in future rental income and equity growth.
Deep dives
Investing in Promissory Notes with Fixed Rates and Monthly Deposits
Narada Capital Management offers investors the opportunity to invest in Promissory Notes with fixed rates of return and monthly direct deposits. These notes provide a passive way to diversify beyond traditional investment options and have delivered double-digit rates of return since conception. They are suitable for retirement accounts and offer predictable monthly income with high returns.
Refinancing a Mortgage: To Extend or Not to Extend?
A listener inquires about refinancing their mortgage to lower their monthly payment. However, the host advises against it, given the listener's low interest rate, which is relatively rare. Refinancing into a higher interest rate would result in significantly more interest payments over the life of the loan. Instead, the host suggests finding alternative ways to save money or generate additional income to fund future investments.
Dealing with Property Damage and Insurance Claims
A real estate investor faces property damage due to a fire and seeks advice on whether to keep and renovate the property or sell it as is. The host recommends utilizing insurance coverage to repair the property and bring it back into operating condition, as selling it would mean missing out on potential rental income and future equity. Finding trustworthy contractors and leveraging property management can help minimize the challenges of long-distance property ownership.