All Forum Posts by: Robert M.

You could be too leveraged, for any financial institution. All those hard inquiries (credit) could be effecting your credit score as well. Be careful, this is how people go broke. Might need to rethink your spending or get a second job for a while. Best of luck. Selling would be my last resort.

1 Vote

Happy holidays and may 2020 bring new opportunity.

2020, we got this!

0 Votes

If your not embarrassed about your offer, then you offered too much.

I learned that from Bigger Pockets.

0 Votes

Tenant,''Pots legal now dude."

Landlord,"So, you're telling me you forgot to pay your rent?"

Tenant, "exactly landlord dude."

Some people just need a reminder from time to time.

1 Vote

Audible, $15.00 month(one free book per month) PB has some great books out.

Bigger Pockets, Free

Podcast, Free

Mentors, Free

YouTube, Free

Learning curve, Priceless

Google, Free

There is way too much free info out there to be spending money(BP has free seminars all the time) on get rich quick seminars. This how I learned and it has worked very well. IMHO Finding the deal seems to be the toughest part of the game right now.

Best Regards

Robert

9 Votes

Originally posted by @Kyle Jones:

I'm in retail finance and it's true that a lot of real estate investors are living month to month with no liquidity. The real estate investors also do not factor in the years of sacrificing through losses, taxes, poor returns, and sweat. The biggest cost owners overlook is interest. at 4% interest over 40 years your home will actually cost you 150% of what you paid for it. No one actually does the math. Repairs, remodels, etc are not factored in either. After you do the math homeowners are rarely better off unless they time the market perfectly... but then you need to factor in commissions, closing costs, etc. I can tell your comments are unsophisticated. Also, falling interest rates has increased affordability, but they will not fall much further. A 1% rise in borrowing costs will equate to a 20% fall in home prices. Do the math and Good luck!

Thats what I was thinking. How many home owners use the words " I own" when actually they dont own much of anything but a vested(debt) interest in a asset. The lenders are the ones whom rent to owner occupied SFH's, (debtors) we are their tenants. Has anyone actually looked at a excel loan amortization over 30 years? Statistically "homeowners" will refinance every ten years, thus starting the interest only(first ten years is usually mostly interest) process all over. Owner occupied SFH's are most often a liability. Dont forget about the PMI with interest, most dont even remove it when they can.

There has been way too much speculative buying.

0 Votes

Might want to look into maxing out an HSA, if you plan on retiring that young, heath care cost could be a problem.

2 Votes

Originally posted by @Jerry Lucker:

@Rebecca E.

Most of my rentals are MH on private property. They are Not depreciating. After renting them for several years I’m selling some on contract. I’m making good money being the ‘bank’. My calculator says they have been and continue to be an excellent investment.

Many investors look down their noses at MH. They just don’t know any better.

Affordable housing demand continues to grow and has no end is sight. So smart to rent, then finance the MH.

What loan terms are you offering the buyers?

0 Votes

You might be too leveraged for their liking. Try a different bank, and be sure that credit stays above 720.

Best regards

0 Votes

This is a very complicated topic and tends to be relative to the personal goals of the investor. Dave Ramsey would tell ya all debt is a liability and to pay cash. Most on this web site will tell ya, Debt that tenants are paying is deductible and good debt. I dont know that I have the answer. What are your goals and why did you invest in real estate? Personally I pay off any and all debt so I can sleep at night and have very little stress, I will get my money back(interest free) over time. If my tenants move, I dont needs to rent the property out ASAP, its paid for. As far as write offs, ive yet to pay taxes on my payed for rental passive income. Its much easier to leverage a paid for property. If the economy tanks, I can easily lower the rent so to keep them full until the economic bounce. You need to ask your self what your goals are and just how big you want to be. Opinions are like *** holes, everyone has one.

Best regards

Robert

1 Vote

All Forum Posts by: Robert M.

Robert M. has started 10 posts and replied 96 times.

Post: Cash poor, real estate rich

Post: Happy Holidays to all

Post: Dealing with Realtors

Post: What is the most common excuse you hear as a Landlord?

Post: Are the three day seminars worth it?

Post: "Millennials Should Be Happy They Are Stuck Renting"

Post: 401k vs Invest in real estate for early retirement?

Post: Why not buy MH on private land for rental?

Post: Heloc denied 4 no reason

Post: Pay off mortgages or use interest as tax deduction?