All Forum Posts by: Akeem Wheatley

I've been listening to Cashflow ninja and the real estate guys about the infinite banking concept and I would like to find some first hand knowledge. (Has BP had any guests that talked about this concept?)

Are there any infinte banking / Privatized banking system practitioners here in the Columbus area? I'd like to take you out for a bite to eat and pick your brain on the concept and how you are using it. 

Nathan Mairs looking forward to meet you as well. I will be moving in the area late September/ early October still working on the dates.

I'd be interested as well. I will be moving in the Columbus area soon and would like to connect with this group. Thanks!

Chase A. If your cap rate(or net yield) is more than your interest rate. I think you would be in a good position. But the greater the delta between the two is also something to look at. Another way to look at it is if you are cash flowing on x%. Your property is working for you. The interest rate maybe negligible. But the lowest interest rate you can get is the way to go.

Jonathan Jaime Velarde investing money into IRA or real estate is a good decision regardless. Personally I do not have much faith in paper assets/Wall Street. It's hard to "invest" in things that are little to complicated for me. So I would reduce contributions and save big for real estate! Good luck!

I remembered one other thing! Always have cash reserve. It's lifeblood. No cash reserve/emergency fund is a big no no. You can run into trouble if anything out of the ordinary happen.

Roberto Santana to answer your question about starting out or getting rid of debt. It depends on what kind of debt you have. If you have high interest debt like credit cards it may make sense to get rid of debt. If the interest rate on your debt is lower than 7-8%. It may make sense to start real estate. House hack does sound like a way to go. I say that because your house payment will be covered so you can use the money that you would use on rent towards debt reduction or more cash reserves. But it is a sacrifice that your family would have to be committed to. creating a budget could be a starting point. Also depending on what your thoughts on retirement, you can reduce your tsp contribution and use it toward debt reduction or saving for DP of your house. One last suggestion is playing Cash flow 101 game. It is a board game and can help you develop a strategy in a safe environment. I hope this helps! Good luck!

@Reginald Lawal that is a nice little tidbit! Did you notice a difference in response rate with the candy vs no candy? 

I am working on learning my market by finding information out there such as population trend, major industries in the city, median household income, price, rent, absorption rate etc. I have found good information on most of the other trends and I started review RV ratio and affordability. I have a vague idea of these indicators but they seem to me that they share similar characteristics. Question: during my market research of my market is RV ratio or affordability really significant? Or having the other economic indicators would suffice.

@Fernando Landeros Good to meet you as well! There is a REIA meeting @ Church Unlimited on Rodd Field May 18th @ 6pm. Hopefully we can meet there if not PM me!