- Joined
- Jun 21, 2012
- Messages
- 16
Context: I have rentals. Current LTV is approx 37%. Cashflow is high. I made the choice (i know...) years back to divorce the desk, leaving FT work and only do my rental portfolio which allowed me to spend crazy amount of time with family.
Now, in effort to keep my portfolio, or some portion of it, I am looking at JV.
I 100% self manage my properties including 99% of repairs, accounting, leases etc.
I have done one JV to date, so do have some experience, but not for this reason.
Questions:
Do I bring on a JV, taking property back up to 80% and use the funds to pay her out, start over?
Or in this case is there a better way to approach, like take out only what is needed, keeping as high an equity position as possible? The higher the equity taken, of course the costs go straight up with it and down goes the cashflow.
What might differ from my original purchase JV property below market value, reno it, rent it and ride it out?
If I maintain equity (my half) and simply remove her from title and mortgage AND my current A lender keeps existing mortgage in place (2-3% I'd hate to lose those rates), will I still pay LTT on full value and or get hit with cap gains?
I am open to advice, comments, your experiences and will clarify or add anything I can. Thank you in advance!!
Now, in effort to keep my portfolio, or some portion of it, I am looking at JV.
I 100% self manage my properties including 99% of repairs, accounting, leases etc.
I have done one JV to date, so do have some experience, but not for this reason.
Questions:
Do I bring on a JV, taking property back up to 80% and use the funds to pay her out, start over?
Or in this case is there a better way to approach, like take out only what is needed, keeping as high an equity position as possible? The higher the equity taken, of course the costs go straight up with it and down goes the cashflow.
What might differ from my original purchase JV property below market value, reno it, rent it and ride it out?
If I maintain equity (my half) and simply remove her from title and mortgage AND my current A lender keeps existing mortgage in place (2-3% I'd hate to lose those rates), will I still pay LTT on full value and or get hit with cap gains?
I am open to advice, comments, your experiences and will clarify or add anything I can. Thank you in advance!!
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