This is the real estate rookie show number 15.

For us, we're using our house as an asset, not a liability.

So the way that we're doing that is we're using our house as an asset, not a liability.

So the way that we're doing that is we're taking that money and we're using it to make us more money.

So it is what it is. It's sitting equity for us. My name is Ashley Carer and I am here with Felipe Burmejia.

You're finally aizing a Bur refinance. Tell us about it.

Finally in the Bur family. So I was able to finally close on a burr that I was doing

during COVID-19. It really slowed everything down. I got the same rate that I was doing during COVID-19 it really slowed everything down.

I got the same rate that I had when I previously got it, but the reason that I was going to

refinance this property was because it was on a five-year adjustable rate mortgage, a five-year

arm, and my rate might have changed, so I wanted to get into a 30-year mortgage fixed, and the only implications was I got some money back. I kept the same rate. I'm going into a 30-year fixed mortgage and it only affected my cash flow negative $100.

So if I was making about 1,200 now I'm going to be making about 1,100 on this cash flow.

Great, I love it. I got some money back out. I'm going to redeploy that money into another rental property.

I'm curious what is the interest rate that you're getting?

So now I'm getting a 5-5. It's a little bit high but like I said I'm out of a five-year adjustable rate mortgage

where my cash flow was dependent on somebody else telling me what I was going to pay

but I wanted a 30-year mortgage where I was guaranteed what I'm going to pay so now I

can make positive decisions based on that property

because I know that my rate's not going to change for boom 30 years.

Right and I think that's why it's a higher rate because you're getting that 30 year

fixed that makes sense to me but I'm doing a refinance

myself right now too but I'm doing it on the commercial side so it will be

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