All Forum Posts by: Brandon Hanks

@William Thomas

Also the 30 year helps with the debt to income ratio, which is very helpful when starting off because that will determine if the bank lets you get another loan.

I would say that “DEBT IS CASH”

The more the better. That’s someone else’s money working for you. Why rush to pay it off? As long as you make good on your payments, the bank will gladly give you more loans. Believe me, I’m an active duty soldier making peanuts and I have 7 mortgages. At the end of the day it’s about building that cash flow.

When you progress into bigger properties such as multi family, then worry about paying off the single family homes or refinance them and make your cash flow even more. Just my 2 cent.

@Cody L. How do you manage a 5-10 year fixed? Does it significantly cut into your cashflow? Do you actually pay the loan off, or are you refinancing to something more cushy?

This is the Property. More of a townhome style I guess.

I have been investing in Real Estate and have purchased 9 properties in the last 3 years.  I am still pretty new, but things are moving along great. I want to look at investing into something bigger such as Apartment Complexes. I know there is a 10 loan limit for conventional loans. How is one able to purchase a 120 Unit Apartment Complex.

When I purchased a Quadplex earlier this year, i was told that it counted as 4 against my 10 properties for conventional loans because they are individually deeded. I think I'm a bit confused on how this works. If anyone could chime in and enlighten me, I would greatly appreciate it.

@David Dachtera I haven't retained a personal accountant yet. I now see the value in consulting one. I'm rather new to investing, but an accountant is the next investment I will make.

Thanks @Alex Deacon @Wayne Brooks @Austin Fruechting!!!! That is all great information, especially knowing that I can rent it for up to 3 years (Not a Day over)!

To all my BiggerPocket Investors and Professionals, I need feedback ASAP.

(SCENARIO)I have owned a house for over 25 years as a primary residence and want to move and get a new house. I was thinking about renting it out. My realtor said that once I rent it out, I will be taxed at a higher rate when I sell it later. Is this true? and to what extent? I just kinda got the feeling that she is talking me into selling it, so she can make that money. 

Any feedback would be appreciated.  

A good idea would be to have the tenant Sign a month to month lease that outlines expectations, such as cleanliness, and drug free perhaps. Have her sign a month to month so that when she doesn't meet expectations, give her a notice that she has to move out. Then raise the rent for the next tenants! I have a quadplex, but a property management company takes care of all that. That may be a better way to enjoy cash flow without the headache.

One thing I have not seen yet is make your bed! It's an pretty important task. Watch this short clip by Admiral McRaven and see why!!! https://m.youtube.com/watch?v=KgzLzbd-zT4