All Forum Posts by: Mark Andrews

Let them go, after they clean the place, do you really want a tenant that doesn't want to be there?

Texas is booming, from what I understand, renters can't be hard to find, get someone who wants to be there 

I don't trust Harvard on anything, they discriminate against Asians students and let a white woman advance her career, claiming to be a native America. Harvard does not use good reason.

I would also look into who paid for the study, follow the money

Hello,

I own multi family, I'm looking at single family. Th reason the HOA fee's are going up which cuts into my cash flow(profit) I don't like that.

Single family for the most part has no HOA, more money for you

Large single family 3, 4 bedroom in Tempe is great, you charge the college kids parents what you want  

Best of luck

"Of course paying money directly to your principle is more efficient. But velocity banking is another option that can give some a level of confidence and comfort that is worth the small price one may pay. I believe people do it every day. Pay for comfort over efficiency."

^^^^^^ This is why I use Velocity banking, I have a 31K heloc I only use 15k for velocity banking (pay off mortgage, Cars) I still have 16K left for emergencies, the interest is cheap peace of mind to me. I pay off the 15K in 4 to 6 months and do it all over  again. I'm a disciplined fan of velocity banking.

All the back and forth is nonsense, use it or don't use it, best of luck to you 

One more thing, the water is not to cold in Colorado for a tankless water heater, the tankless does have to be properly sized though, the cost will go up when moving to larger sizes

Hello,

I'm a plumber from Mesa AZ,

Go to your favorite big box store, get a new pan, get the exact same size heater 50 gal, height and width and plug and play. Then change it every 8 to 10 years. (if you're really sharp, get new supply lines and new water valve, your then really safe)   

Don't go with tankless, up front costs are WAY to high. You can go with 40 gal, small cost savings not enough to make a difference, stay at 50 gal  

Good luck

I am using the strategy right now and it works great for me, I'm with Brian Cardwell, I hope no one else uses the strategy.

David Strange says it better

"The reason to use the Heloc as opposed to cash is that the cash is gone and can never be used again so your paying down the loan but the cupboards are bare. Where as by using the HELOC, aka a debt instrument, you are making an immediate impact and yes that money is gone just like cash but when you place ALL of your Rents received at the HELOC and pay bills from the heloc, the savings shows back up, plus technically on the month you just made the huge payment, you wouldn't need to make a mortgage payment. Granted that slows the payoff but it quickens the cash building so it's roughly a horse a piece. In closing the idea is not a financial gain over cash it's a way to utilize All your income to pay something off faster then you normally would"

David Strange 

I bank at Chase, within the last week I talked with a local (Mesa, AZ) Credit Union, the CU really wants my real estate business, Chase not so much.

 It was a pleasant surprise how fast the CU said yes to all my reasonable plans( ReFi, Heloc and Mortgage) The CU is getting all my business  

Thank You all for the ideas and options, they opened many doors to investigate.

Lou, I'm doing what you suggested about the

brokerage account and buying some decent dividend paying stocks but my heart is in real estate and working for the man just isn't fun anymore, gotta make that money work harder.

 I bought one 4 plex in Phoenix on March 1st of 2015  and its running rather smoothly. Problem, I cant buy another multi family till 12/1/18 because of a prior foreclosure in Nov 2011. Question: what can I do to keep the property buying momentum going till then?

 I check the listings to keep up on prices, do my reading here to keep up on things, paid off all debt except my mortgage to start building savings and building my credit higher, I also have access to 120k if need be, I feel a bit stuck.   Thank You