All Forum Posts by: Robert M.

Do not be in a hurry to buy a primary home. Unless you have a high income I would recommend the Roth instead of the 401K. Keep feeding the IRA, compounding interest is awesome. Speed kills!

Best of luck in your journey.

I'm not going to disagree with your post, I have the spreadsheets that back it up. With that being said, it's not the way I want to invest in real estate, nor would I recommend to the original poster of this thread. I love paid for assets, it gives me true freedom. I don't want to wait 20 or 30 years for a paid for asset. Too much could go wrong in life and being leveraged only makes it more dangerous. At the end of the day, it is my dept and my responsibility, not my tenants. Inevitably I will get all my money back plus a handsome bonus. 

 Good points Ben. It's my opinion that most investors have little to no reserves, still.  There are so many new investors right now, due in part to cheap money and demand. Too many big hats with no cattle. Let's hope there isn't any economic correction any time soon. I hate sounding like a chicken little, but damn it, I'm going to have all my clothes on once the tide goes out. 

 Ask any investor who went broke in the 2008 crash. What went wrong?  Oh, and there was a LOT of them, most of which will never recover.  Debt = liability. I personally hate liability and want to pay my self the 5%  mortgage interest over the years, rather than the bank. I can come up with deductions other than mortgage interest. Once the properties are paid off I can owner finance to keep the income stream in my golden years or continue to collect rent without paying the bank first. If I wanted to be a BIG investor my strategy would be different. I just want about 5 paid for properties, that's all I need, the Roths will do the rest. Besides, about 5 paid for rentals is so much less work and stress than say 40 or 50. I guess im a dumb a$$ at math.

The voting record in my state(Oregon) would suggest we/they are rich. Property taxes in my area have significantly gone up mostly due to ALL the bonds the taxpayers keep voting in. The county can only increase the property tax by 3% a year. My state and county currently have millions and millions of dollars in ten and twenty year voted in bonds.  It's my opinion that we should think about how we vote and what the outcome might be.  Is that 30 million dollar swim center really needed? We could be voting our selves out of a market. I also want to mention that most homeowners have NO idea what they pay in the way of property taxes, escrow accounts write the check.  People that rent also tend to check yes box as they think they don't have to pay the bill. Sorry for the rant, but I feel we did it to our selves.

There're millions of businesses that don't trade publicly and will reinvest through expenses. A successful business MUST spend money if they want to grow.   Expenses such as healthcare, taxes, and overhead are just a few reasons small businesses are failing.  It's also the reason large corporations are choosing to conduct business overseas. The point of going into business is to make money. Why is that a bad thing?  The GOP is trying to monetarily incentivize domestic business. I feel we need to do something as we are losing jobs to other countries faster than we can replace them. If the plan works, the idea is more jobs and spending will help boost supply but mostly demand. I don't think its a fix all or sure deal, but feel its a start in the right direction.  

Personally, we have been spending more money this year than the last ten. Rental properties in my area have skyrocketed since the GOP plan was first announced. 

The latter part of this is, we take even more from small businesses and publicly traded corporations to see what happens.

Thanks for the insight.  I have ran into some stupid banking practices over the years so I can relate.

speculation is where the money is at.😁

We are waiting to see the final draft after approval. As of now,  the bill does have the 5-year owner occupied rule so to avoid capital gains tax. Im betting it will be the rule going forward.