All Forum Posts by: Ayman Attia

From my mentor: 

In 2002 I did my first ever refinance on a cluster of 17 rental units I owned in TN.  Interest rates were LOW.  So I got into a longer term, lower interest rate mortgage and got cash out of the deal too.  I had been holding these properties about 8 years and had substantial equity accrued.  

I haggled with my ex-wife for a lump sum payoff of child support 5 years in advance but I got the kiddos tax credit for the next 5 years as well as personal exemption.  Bought a 2002 Toyota 4Runner, paid off my 2000 Honda Accord note all while producing $500 more in positive cash flow per month.  Soooo my cash flow ratios got stronger.

That is how a "thug" rolls.....  

My name is Ayman.  My parents are doctors.  I want a different path. I am here in an attempt to figure that out.

I am learning from a local real estate investor and broker (Tommy Ray).  He has been at it for about 27 years.  One of the mental shifts has been investing in "down markets".  He calls it contrarian investing.  Going against what others are doing is not me.  I want the sure thing.  Realizing there is no "sure thing" per se was a small hurdle.  Going 100s of miles away to buy at 1/5 of the local pricing was mind blowing.  I encourage new investors to think outside of their local market.

Other words of advice would be kindly appreciated.