This is my first post. Got Deans books a couple of weeks ago - they are the the real thing! Been reading and studying ever since. Also ordered the "Think a Little Different"
Developing first deal. Been out looking at properties. I have researched this site for answers to the following questions but have not found them yet.
Have been paying mortgage on our own home for almost 11 years. Bought for $93000 and refinancing twice which lowered the monthly but raised the original loan amount to $104000. Looking to HEL or HELOC for downpayment on first deal. Thanks to my wife our credit is excellent. We also have a $204 car payment (arggg!)
(1) How do we figure what the equity is in our home right now?
(2) How does refinancing effect equity?
We will not post here in the forums until we have researched answers so as not to waste peoples time. Thank you.