All Forum Posts by: Brent Davis

I've been at the rental game for 15 or more years. I am currently 38. We own 20+ units. We have a very large amount of equity in all our properties. Most of them are refinanced now for 10-15 years. Some less. They are all cash flowing. My wife and I are both teachers. Our w2 income is not very high. We have a LOT of debt. The small local bank has been great working with us. But they continue to have to get board approval every time I want to do a deal now. I'm trying to figure out a way to use my equity to purchase more properties. I do have a LOC but it is attached to my own personal residence. It is 50,000. I don't like having that tied to my own personal property. I'd like to up my LOC some or re-do the line of credit on one of my other properties so it is off my personal. I recently just rehabbed three properties That appraise for appx. 210,000. I owe about 100k total on them. I was thinking these properties would be good to set something up on. I will say that I think the appraisals were high on these properties. I don't think I could sell them for close to that. Sorry I'm rambling. I haven;t really posted much and don't want to look like a moron. However, I typically end up doing so!:)

I had completely forgotten that I had been on here two years ago!  I've always listened to bigger pockets podcast.  I thought you might like an update on the property.  I did not sell it.  I currently owe about 60,000 on the property.  Each side is rented for 650.  Tenants pay all utilities.  Property taxes are appx. 1800 per year.  I'm glad I didn't sell it.  I'm looking forward to the current tenants moving so I can bump the rent up a bit more.  

Hi there!  My name is Brent and I live in Central Illinois.  I am 38 years old.  I own 22  units.  One five plex, two duplexes, and the rest sfh.  I am also a second grade teacher in the small town I live in and where 95% of my properties are located.  I listen to your podcast routinely.  I'm not sure why I've waited so long to jump on here.  But here I am!!  Thanks for a great site and podcast!

I have 20 rental units so I am familiar with the rental game.  I've spent about the last five years flipping a couple houses a year.  I am also a second grade school teacher and father of three.  So I have a busy life.  I had decided I was going to steer away from flips and focus more on my rentals.  However, this sort of fell into my lap.  I've done absolutely nothing to this property.  I would probably take the profit and reinvest in another property or pay off an existing note.

I'm new here so if I am posting this in the wrong place please let me know.  I have a question about a duplex I recently bought.  I paid 78,000 for it about four months ago.  It is currently rented for 600 month for each side.  I could probably paint and put in new flooring and get  700 each side.  I'm positive cash flowing a couple hundred bucks a month right now.  I had a realtor call me yesterday wanting to know if I'd sell the property.   I know I got a steal on it.  I mentioned that I felt it was worth 110-120,000.  My question is if I could get anywhere near that would you sell? Realistically I think I could get 105 or so for it.  I don't necessarily need the money and I'm relatively young and it is paying for itself.  What would you do?

Hi there, I'm new to this page. I'm 36 years old. I've been in real estate for about 15 years now.  I spent about the last five years concentrating on flips but I am now back concentrating on rentals.  I currently have 20 units.  I am also a full time second grade teacher.