All Forum Posts by: Brett Lee

@Joe Splitrock

Great advice Joe! Thanks

I wasnt sure ramifications on pulling money out of rentals... Just was curious on whether i could do that or not.

@Ola Dantis

I appreciate your thought Ola!👍

More advice/ideas is helpful!!

@Tim Houzenga

Also age 37 with fairly low risk tolerance

@Tim Houzenga

I am a teacher with modest income around 70k. Not the best with taxes but believe i do standard deductions on taxes. I want to pay debts down but dont want taxes going up

@Kenneth Garrett

Interesting thought. How does 1 get into private lending?

@Matthew McNeil

I recasted a couple years ago with 70k to bring down payment. Lost access to those funds until i opened up heloc in which i was able to pull out 80k which i used as down payment on our new primary. Bonus is my monthly payment went down a lot for 3 years when i took a break from flipping (Did a 1.5 year flip that burnt me out and my wife needed me to take a break ;-) ). I believe house payment went down around $300 per month if remembering right...

@Craig Jeppesen

That is similar to what i was thinking. With 1 slight difference. Our new house has a huge unfinished basement with 15' tall walls. I am considering paying off rentals to increase cash flow and getting non owner occupied heloc on them to still have access to funds and then putting around 50K into finishing our basement as an ADU or air bnb rental. If I rent it out i could easily rent it for $1000+ per month and then have another rental source of income to use in paying down primary (i.e. 3k per month).

@Dave Foster

I like your thinking and strategy!👍

@Dave Foster

I like your strategy Dave but trying to fully understand it. So pay off primary with heloc and then focus on paying off heloc quick to free up money to purchase when things go south?

@Jay Hinrichs

my biggest concern is that homes that sold in 2006 for 300,000 sold in 2010 for a hundred and twenty five thousand and now are selling for 350 to 400,000. I just don't want to overpay an aftermarket tank just for a very modest rental income. Your idea of looking into pods is a good one! It seems like that is a very growing industry how much people move around

I should probably keep my eyes open too different investment opportunities as well as rental