All Forum Posts by: Brandon Miller

Wow so much information shared throughout the group. Thank you to everyone who input your thoughts and reasoning behind them. It is amazing to see both sides of the coin and also some middle ground depending on how much risk/leverage your willing to acquire. My wife must have similar mindset to Joe as she also says there is no reason to say this is the plan for the next 15 years as unexpected things may happen. So, the best I can do is plan then check/adjust as life happens. I never expected so my comments on this question that was bothering me late at night but I am grateful to the entire community for sharing. I hope you all have a great success in the coming future with investing and I look forward to purchasing my first property next year! 

And thank you for the book tip I will look into buying it this weekend!

@Joe Villeneuve, @Jay C @Fernando M Thank you all for the feedback. Yeah the ultra conservative in me is thinking this path because of the point of if i pay of a property and move forward I can always afford the rent payment of the rental if the tenant leaves until I need to rent it out again. If i had 5 and they all left would be sooooo screwed that month... You do make a point about the suggestion of your money in a house vs in a bank. I re-looked at my numbersfrom what I am showing paying one off at a time like I mentioned you could get 7 houses paid off in 15 years reaching that magic 7k a month in cashflow. My previous numbers didn't account for the cash flow bonus stacking each year to help buy properties and in the same 15 year span I could get just over 7k per month so definitely not bad. Thanks Joe for explaining that a bit more it caused me to see it a bit more clearly! Now i just have to plan on finding 28-42 good deals rather than just 7. No pressure :P

Hello next year I will be buying my first rental property. I wanted to get your opinion on paying off your rental property mortgage one at a time before buying the next rental or not? The way my numbers will work out is this time next year I should be saving a good amount per month so I used rough numbers to figure out when I could retire. Based on the method of paying off rental property before buying the next one for a $150,000 dollar home that rents for $1500, every time you pay one off the cash flow would grow from around (150-200) to (1150-1200) which you could then reinvest into the second property. Over the course of 15 years you could get 7 properties paid off making a pretty nice amount per year. I am struggling to see the benefit of just buying rentals and not paying them off because to get that much cash flow you would need around (35-47) properties which would take longer to save up and get that many? Am I way off here? Now I know 150-200 cash flow on a $150,000 puts me around 5% CoC return and I should be looking for around 12% but I am basing these numbers off what I can just easily see on zillow. Do I need to go back to the drawing board because I have missed something important here?

@Serena Kim thanks for the words and thoughts. I agree first hand experience is definitely the best way to learn though a bit scary as well. I will keep analyzing deals and if i find one to good to pass up I will make the commitment to pull the trigger.

@Mindy Jensen thanks for the reply on this because I honestly wondered the same thing. What if you bought say a quadplex but didn't rent out the 4th room etc. I am not going to prison for that chance so ultimately I checked and adjusted my thoughts and thinking of different opportunities!

@ Joe Aiola and @Sean McDonnell Thank you for the kind words and advice. I think for me the best house hack option would be a grandma suite in the back etc so I will definitely consider that. I was leaning towards focusing on education i.e. doing a deal analysis daily etc butt didn't want to be spending my time doing that if, others thought there where still opportunities I could seize. I will continue the efforts and hopefully be on here soon with my first house hack story!

@Frank Hinck that is good advice yes I have been very active on trying to watch as many podcasts as YouTube suggests ha. I planned on starting to analysis deals here in Florida just to get the practice even though nothing might come from it. I will take action on your comment again thanks. 

Hello as the description states I moved for work to Orlando Florida for a one year rotational commitment but am from DFW area in Texas. My wife stayed back home to finish her degree and raise our soon to be kid, setting a foundation for our family once I move back. I would like some advice from the team on what I should put my focus on in my free time since I am here alone until I move back. Doing a first deal alone can seem a bit scary i.e. whats the correct paperwork you need for the transactions how to find the correct lenders to believe in you etc. I don't think a fix and flip would be the best option while in Florida since I would be under a time crunch but looking for your opinion/advice. All is welcome and thanks for taking the time to reach out!

I am a Mechanical Engineer by school working in a Leadership Development Program for an Aerospace company! There are so many of us out here good to be connected.