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Updated almost 10 years ago on . Most recent reply

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Cal C.
  • Investor
  • Peachtree Corners, GA
1,060
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1,638
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Finally all but one of my houses is not underwater

Cal C.
  • Investor
  • Peachtree Corners, GA
Posted

As I discussed in a previous thread How my 5-7 year plan went to ****

  the first bunch of houses I bought haven't done very well.  In fact, until recently almost all of them were underwater, many are still worth less than what originally paid for them.  However, since I didn't put anything down on most of them it wasn't a complete disaster.

With the continued rise in the ATL market and 7-10 years of paying down the mortgages, all but one of the original properties is now above water; albeit, only slightly on a couple of them.  The last one was one purchased with the idea that a family member would buy it, didn't happen (NO SWEAT) and it was bought far below the 1% rule.  Plus I didn't pay much principal on it for the first seven years I had since it is on a 10 year interest only 30 year mortgage.  

Bottomline- my bottomline is beginning to look much better, now if I could only figure out a way to get them to cashflow.   

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