All Forum Posts by: Chris Heppner

Hi everyone, first off thanks for taking time to review my post.

So I'm in a very unique and blessed situation where I own 9 rental properties, 1 of which is already paid off.  I have approximately $65k in extra income after all expenses are paid each month and I wanted to know what you all would do with the extra money each month.

Keep in mind that I"m already maxing out my retirement accounts, I'm putting money away for my kids' 529's plans, etc.  So here are my options (the way I see it).  My main goal is to quit my full-time jobs and solely focus on real estate and use that income as my sole income among the other investment capital I bring in.

OPTION 1

Continue to pay off each house as fast as possible until they're all paid for and then start purchasing other assets i.e. additional single-family rentals, car washes, coin laundry facilities, etc.

OPTION 2

Take a % of my left-over income and use that to pay down the houses and use the remaining to pursue other assets (what I explained in option 1).

I'm curious to know what you all think?  Thanks!

Thanks for the feedback!  I'll definitely check into both of those. 

Can anyone recommend a quality homeowner's insurance company that is nationwide?  I currently have properties in GA and NC.  I also have Allstate right now and have had very bad experiences so looking to make a switch.

@Matthew Mazur oh wow great to know! Thanks for that!

@Matthew Mazur oh got it ok. Thanks for your help!

@Matthew Mazur thank you for the advice!

So you’re saying typically the down payment on an SBA is 15% but more likely 40%?

@Cason Acor thanks

@Matthew Mazur who typically lends on an SBA?

@Kyle Robertson thanks. I was trying to see if I could get a loan for less than 20%, but I’m guessing not.

Is the typical down payment for a commercial real estate property 20%? I’ve heard differing stories so I’m a little confused.