Читать книгу Flipping Houses For Dummies онлайн

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Well, that certainly looks rosy, but what have you lost in the transaction?

 You now owe $250,000 on your home and have no equity built up in it.

 Your new house payment is $114 more than your previous house payment.

 Over the life of the loan, you’re scheduled to pay $27,360 more than you would have paid by sticking with your original mortgage.

In short, you’ll pay $27,360 over the course of 20 years to gain access to $75,000 now. But think of it this way — by putting your equity to work for you in successful flips, you may be able to turn that $75,000 into far more than $27,360. In fact, you might make that much money and then some on your first flip!

Of course, you don’t have to unleash all the equity in your home. To build on the previous example, you could take out a 20-year, $225,000 loan at 4.5 percent, with a monthly payment of $1,423.46, freeing up $50,000 in equity, or a 20-year, $200,000 loan at 6 percent with a monthly payment of $1,265.30, freeing up $25,000 in equity. Your choice depends primarily on your comfort level and risk and debt tolerance. The more equity you leave in the house, the greater your cushion, but that also means less investment capital to work with.