All Forum Posts by: Andrew Kougl

@Sam Moher

Welcome Sam. You and I have similar goals although I am investing from OOS so you have a great advantage there. Happy to help in any way I can as I love talking about this stuff.

Andrew

@Jorge Crespo

Congrats! Just curious how you'll fund the property next year.

@Richie Thomas

Correct

@Richie Thomas

There are definitely good pockets (Flossmor school district area) but watch out for taxes they are super high. Make sure any numbers you are running are WITHOUT the occupancy discount. Their crazy high property taxes are even higher for OOS investors.

Andrew

Valuable meeting. Wish I could attend! Have fun

@Harry Standafer

So far I've only met one professional who has lived up to my expectations. He's a real estate agent and has been very good. Happy to share the referral if you need it.

You sound well on your way. I wish I was as fast along when I was your age.

Congrats to your continued success.

Andrew

@Curtis White

I'd echo caution as well. When I first started I searched for months then saw two properties that met my criteria and wanted to buy them both simultaneously. I was so gungho, and bummed at the time I only got one but boy am I glad I didn't get both now. There is no substitute for experience and there are things you just can't learn otherwise. Good luck and I hope it all goes according to plan.

Andrew

@Eddy Salinas

Welcome! I'm trying to crack the Lexington market as well on the multifamily side. What are your goals?

Welcome! Happy to have you and best of luck on your RE investing career.

I have a similar policy, a whole life insurance policy through NY Life. The reason I like it is because the plan earns dividends from the cash value whether I've taken out a policy loan or not.

I realized early on, real estate investing is a series of downpayment savings ramp ups. I don't like the idea of my money sitting in a bank earning nothing while I save up for the next downpayment. It also has to be liquid and safe (can't lose value). With this policy it's growing at 5% and even if I take out a loan (at 5% although the rate can vary) I'm not having to pay interest like I would on my HELOC loan payments because the dividend payout happens on the total policy value regardless of any outstanding loan. Point is, being your own bank (for downpayments) is the only way to go.

Lots of people, Suze and Dave especially, will trash life insurance and it's not going to get you super rich quick or without any of your own contributions, but it's another vehicle, growing tax free and those are sure hard to find. I want to retire well before 59 and a half so a Roth IRA doesn't interest me much.