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Hi Fishes!
How are the hikes in Mindtree for last two years? I'm planning to join Mindtree. My yoe is 6 and tech stack is Java & springboot. Is it fine to join with 17 LPA in mindtree with this experience. Is it as per market standards? Need suggestions please. My Lwd is Sep 19th. Mindtree
Hey guys, I need 11 likes. Thank you.
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Any Property Management recs in Seattle area? :(
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lol it’s a THOUGHT everyone, I’m here to hear opinions around whether it’s a good idea - sheesh.
home loan rate is 2.7%
Understood
Good luck with that 10%+ interest rate
I am a big fan of tapping my HELOC. Regardless of rates. I use it for construction costs to build duplexes. Pay it down in a year or two. Then build the next. I have total control. Don’t have to answer to bankers and spend the time and effort up front just to get them to lend me money. As a busy executive the ease and flexibility of my HELOc far outweighs any savings in rate differ. For me personally. So I guess it’s an individual decision.
NC
What's ur %? 2.x + SOFR? I mean I wouldn't do that UNLESS your goal is to put the cash in and then cash out REFI with trad financing. Then i think it's fine.
Your home loan rate is great so I wouldn’t suggest refinance, run the numbers. If you take out HELOC at a high interest rate, how long before you can rent the property at higher rents? If the HELOC is a big amount, it might be worth locking into 1 or 2 year term and refinance once the interest rates stabilise. I do private lends using my HELOC and although I pay over 7% on HELOC, I also make 18% on the lend. It all depends on your risk tolerance and return expected.
Subject Expert
How much equity do you have in your primary? Have you looked into HELOC rates?
How much do you need for renovations, how long will it take, and how much will it increase rents? Are all 4 units currently vacant?
Subject Expert
You’ll need to leave 20% equity in the house, and 25% or 30% will get you significantly better interest rates. So you may only be able to borrow $50k or so depending on the value of the house. Is that enough to do what you need to do?