All Forum Posts by: JT Spangler

Stay positive. Even if you miss a mortgage payment it's not the end of the world. You still have a 3 family rental that cash flows well, with what will have to be WAY better tenants coming in next. If you credit gets dinged, (1) it's temporary, and (2) it doesn't impact stuff you already own. And it sounds as if you'd need a few years to build up your cash reserves before investing further anyway, so no loss there.

Sorry you're dealing with all this, man.

What he said. I've been in East Nash for a 3+ years now, and deals are thin unless you're finding them yourself. Forget about seeing one on the MLS.

I'm currently gathering info on rentals in the North Nashville area, which was once sketchy (and is still in parts), but is bordered by nice neighborhoods now. Let me know if I can help you with any boots-on-the-ground type stuff.

Hey, Steve! I'd love to chat with you about any off list deals you're brokering.

My gut tells me that, if you parlay that extra cash into a bigger rental (multifamily, for instance) that still meets your 2% rule, you'd want to sell and reallocate. Why not earn twice as much cashflow for the same initial investment amount?

Nice!

Dude, I have to request that you readjust your mindset. You bought a fully occupied duplex THAT CASHFLOWS(!), and you have the opportunity to increase rents already, AND you did it all without the biggest RE investor resource in the world (biggerpockets).

You should be turning cartwheels right now! As lots of the pros around here say, real estate isn't a get rich quick scheme. You're creating passive income. Even if your cash flow remains at 132/month (which I think it's been shown that that's a miscalculation), that is essentially free money. I have 25k in the stock market, and it's not returning dividends of 150 bucks a month. Nor is my asset potentially appreciation (not that you'd want to count on that, but Portland is a strong market).

Now that you know about bp and the 50% rule, and you're getting the real world experience of owning your first investment property, the next deal you do will be even better. In a few years, you might decide to cash out of this duplex and reallocate that capital elsewhere. In the meantime, I call it a solid double up the middle. Congrats!

You guys are going to want to do a good bit of reading (starting with the BP beginner's guide to investing in RE) if you're going to consider a buy and hold strategy (aka purchasing the house for a rental). The valuation there is COMPLETELY different than if you were going to buy a house for yourself. People make the mistake of thinking it's rent - mortgage = free money!

Welcome to BP!

Indeed. Just nowhere near the time you estimated. And when compared to the extra income, it's usually pretty profitable time/hr (I would speculate).

True, but that wasn't the argument. And managing the PMs take roughly the same time whether they have 2 properties of yours or 20, so it still doesn't change your effort significantly.