All Forum Posts by: Andrew Perkins

@Cody Petersen

Are you considering a day or evening meet-up?

@Cody Petersen

Hey Cody! My wife and I attended a couple meetups before the pandemic hit in KC near the Waldo area. I don’t believe the people who started that one have started anything up again yet. We would definitely be interested and have had the same thoughts in the past few months.

@NIcholas Hamel

We used a HELOC against our primary to purchase our first rental! It was a cheap and easy option to get the down payment - However, a couple things we ran into:

- while the interest rate was low AT FIRST, most become variable after the promotional period (if one at all). So you’ll be subject to prime rate.

- have a good repayment plan in place. We found an okay deal, but not great. It cash flowed, but the extra monthly HELOC payment (entire 25% down payment) really ate into the cash flow and at the time we really didn't know how we were going to pay it off (it had 15 year amortized payments). So either find a good enough deal that you're going to be happy with the cash flow after the extra payment OR plan on doing a rehab and refi eventually to pay it off.

That second point is definitely due to our inexperience and being excited to pull the trigger. “We’ll just figure that part out once we get it rented out!” We did... but looking back, we should’ve come up with a plan beforehand.

So as a quick update -

I read this post to my wife, and she pointed out that the way I worded it, it made it seem like I was unhappy or lost before we started investing. This couldn’t be farther from the truth. We have always been content and grateful with what we have, even when we were sleeping on the floor and adding scrambled eggs to our ramen noodles to have a “fancy” dinner. Real estate has just started to clarify my vision of where I’d like our family to end up. Which maybe doesn’t describe happiness at all? I love all of these different perspectives on happiness and real estate! I am learning a lot from everyone.

@Frank Procopio

You’re absolutely correct, I know that we have barely gotten in this and we will undoubtedly come across stress! I think that what you said about the mind is one of the reasons I’ve enjoyed real estate so much. I think it’s really forced me to grow my mind and question what’s possible - quite different, I’m sure, than what the book teaches though. I will have to check it out! Thanks!

@James Hamling

Adding “at this moment” really changes the meaning of attainable! I suppose it’s similar to “I can’t do this” vs “how do I do this?”.

@Carlos Medina

“Money will exaggerate the person you are today”. Wow! That is fantastic and so representative of what you see in the world everyday.

@Joe Splitrock

Great advice! Why isn’t this something incorporated into public schools? We have all kinds of required subjects, but none that teach gratefulness?

@James Hamling

Purpose! I feel that this is the holy grail in discovering happiness. Yet it can be so hard to define. I also feel that it goes hand-in-hand with BELIEF. Belief that your purpose is meaningful and attainable!

@Jonathan Hulen

I really like that you say happiness isn’t a goal! I hear a lot of people, when referring to a new interest in real estate, say something to the tune of “I’ll get passive income and finally quit my job that I hate”. But happiness isn’t a result of success. However, I think finding a goal where you enjoy the PATH to success could create happiness.