All Forum Posts by: Alec McGinn

I’m coming up on the end of my 6 month grace period before I have to start paying my student loans. Between my wife and I,for the standard 10 year pay off, would be paying a little over 800 per month for the next ten years. I am thinking about choosing the extended payment for 25 years that would lower our monthly payment by more than half. Then, I would take the money that would be going toward the 10 year payment and investing it for 25 years. I ran the numbers and even though I would pay 13000$ more in interest, I would generate more money investing 10 years longer than investing the full 800$ a month for 15 years. I would invest this money primarily in my Roth IRA, but I also set aside 30% of my income for real estate down payments. Now, please let me know your thoughts on this matter? Is my logic good? What approach would you take? 10 year or 25 year?

Hello BP, I am finding that multi family houses are the direction I want to take in my portfolio, I do not have the capital for down payments and closing costs. Can someone walk me through how to form a win-win deal with a hard money lender? I want to buy 4-plex’s in my area that are selling for 300k. Any advise is appreciated!

Hello BP, I’m looking into buying multi family properties in my area. I am considering using a hard money lender for buying properties. Can you guys describe to me what a win-win deal looks like for a real estate investor and a hard money lender. I just have trouble seeing the benefits for a hard money lender cash flow wise to get their money back and more? Please advise!

@Michael D. Too late man I already own a house with her and I’m not too concerned with the pessimistic outlook. I could rent my house in a month with 200$ cash flow no problem factoring in vacancy and repairs. If things were to fall apart now they could just as easily fall apart after we are married and then we would be having the alimony conversation lol!

@Brian Schmelzlen I live in a booming city with a shortage on housing. I have one private loan that amounts to 11,500$ that i especially want to pay off and then the rest of the loans between the two of us are all federal loans. Most of her loans were subsidized. This along with saving for our wedding is putting a damper on my investing for the time being. Should I contribute more to my Roth IRA or 403b for lowering my taxable income for the time being? Having options is a good problem to have!

Hello BP, I just graduated with almost 85k in student loan debt. This is between my fiancée and I. Our household generates 95k in W2 income. Now that I have money coming in I’m not sure what is the best thing I should be doing with it. Should I be paying down student loans then flood my investments when they are gone or should I go for a balanced approach? I have a 403B and Roth IRA account for options and I own a house that I live in and intend to rent. What would be your strategy?

@Craig Curelop How do you go about finding a good contractor when you don’t even own the property yet? Do you ask them their rates or explain jobs to them and they quote you?

@Brian Pawl Do most property management companies do renovations too?

Hello BP, I have just recently purchased my first live in Home with the intent to rent it out down the road. My next goal is to acquire a 4-plex. My plan is to self manage the property, but I do want to have plenty of help. Who should I be looking for in my network that would help the aquisition and management and rehab of my next property. Please list them in order of priority. Thank you!

John Woodrich are the multi families for sale in Rochester on the MLS? I havnt been looking lately with a new job and just closed on my first property. I would ideally like to find a 4-plex to fix up. In the next year or two.