All Forum Posts by: Alexander Parada

Joshua Davies for sure let me know when you are near on in the San Fernando area. Always like brain storming and sharing ideas. Inbox me your #

@Joshua Davies Great advice Joshua and yes definately not using all my reserve to throw a hail marry! :) 

Like you said I will approach this with baby steps. my feet wet in the small jacuzzi before I jump in the pool! :) 

@Clifford Kearns Creating this post really helped me consider many things but ultimately I will be buying more props might give buying 8 houses a shot with 20% down to see results personally. 

Right on! @Jeff Sheraton

@Jeff Sheraton Current home Mortgage is $1500 owe 290k On it. 

So I would net 2k Monthly so not exactly crushing it but there it is. I am thirty years old not looking to retire now but want to retire at 40 for sure. You are right though everyone's wants are across the board. 

@Steve K. With 8 houses how much would be ok to net at the end of the year? My thought process in 30 years the paid off homes would generate you $1,080,000 - Property tax, insurance and insurance and if you want to sell then you get your 300 k back + Appreciation at that time.

But I will look into what you are saying That is why I'm here to enrich my investing techniques. 

@Thomas S. Just curious Thomas how many properties do you own and are any paid off? You got me regretting now paying the properties off cash will look into snowballing 8 properties. I am currently looking to invest in Houston.  At least I can sell current props now with a profit or refinance them pull cash out and could always buy more so the money is not dead yet. 

Also guys so If I get 8 properties lets say at $150,000 Mortgage w 20% Down  lets say with insurance and property taxes comes to $1100 Monthly you charge lets be realistic and say $1400 Monthly rent Multiply by (8) end of the year net profit is $28,880 minus repairs and any other items at props. the paid of home is netting me 12,000 end of year times 2 netting 24k minus expenses only with two tenants.  

Also I am using a realtor to find me the tenants being I live in California and invest in Houston I own a flooring business in Houston so my guys do all the repairs and misc. Items in house.     

Thanks for all the feedback guys  I am a sponge socking it all up! 

@Sharon Tzib Im afraid of the snowball that is assuming everything goes well and not accounting for repairs and tennats not paying with a mortgage on hand cannot imagine that with more props. When they are cahsed out its a bit limited how many homes you can get but for me at least I find it head ache free. But I will be contacting you soon to discuss I see you are a very active realtor on HAR. 

@Ryan Terwilliger Thanks for the input Ryan. 

@David Dachtera This is what I am now leaning towards just keep buying until I am dead :) I like having the homes paid off I wont scale fast but wont half to worry about keeping up with association demands you know how that goes. 

Hello Everyone at Bigger Pockets! I currently own 5 properties in Houston TX all residential rentals. I have a mortgage on only one of them. The home with a mortgage I am currently selling after sale I will have rough 300k take home the same amount I need to pay off my current non investment home I live in. Would it make more sense to pay of my home? Or purchase two rentals at 150k each in Houston to rent them out for $1500 each which is 36k gross 20-24k net. I would love hour suggestions and input. I know no on in my circle that buys and holds time to change that. V