All Forum Posts by: Cole Black

@Ross Olson

Hey Ross,

Thanks for the reply, my goal is to have a large portfolio of houses and to keep expanding. About the cash flow I was told making extra payments on a mortgage lowers the monthly payment. Does this then not increase your cash flow? I’m new so please explain.

Ok let’s say I have a mortgage on a house amortized for 30 years. The property earns about $300 a month in positive cash flow. I would like to reinvest this money but would like to know where it’s better off. Should I put that $300 dollars into the mortgage lowering my monthly mortgage payment and increasing my cash flow. Or should I save that $300 extra bucks until I have enough money for another property. What’s the better option and why?

@Andrew Smith

Three years ago my personal basement would flood every year. We renovated it and changed the drainage system ever since then we haven’t had a problem. Maybe look into the drainage of the property. Is the lot all dirt or is there plants preventing erosion?

@Devon Cornwall Hey Devon,

I live in Ontario but I am three hours away from Windsor. Therefor it’s a little bit too much of a stretch for me! There is however a meet up going on in London on Tuesday that I found out about through BiggerPockets if that interests you?

I have a few goals in life start a business, become a pilot, and invest in real estate. I’m young 19 years of age working at a minimum wage job unable to really save any capital for a down payment. I know I need a better job. Here’s my issue, to reach both goals I could either work at a well paying job till I save up enough money for a down payment build a big corporation and use that to fund my pilot license. Or I could become a pilot use the money to invest in real estate and eventually just switch to real estate full time and fly recreationally like many people on the podcast. What do you guys think I should do?

@Chase McArthur is there any such thing as an excel sheet that some has made where you type the numbers in and it’ll come out with a positive or negative cash flow? Also I’ve noticed that I was hoping to get my first place no money down and save the positive cash flow from it to purchase more properties with a conventional mortgage or private money. What do you usually amortized the mortgage at 30 years?

@Chase McArthur that true probably will need a better job so I can save for a down payment. Is 40% usually a good number to go by to calculate your expenses? That doesn’t include taxes correct? What about mortgage?

@Chase McArthur undefined how do I raise that initial source of money for the down payment  

Ok so here's a property I have found and I think it may be a good deal. Keep in mind I am still educating myself and still need to learn more before I buy. The property has two duplexes side by side two units are renting $650 a month, One is $750, and the other is $590. The asking price is $309,909.

I know its hard to evaluate as you don't know the area and can't see it but would any experienced investors run through if it is a good deal or not.  I wouldn't have much of a down payment per say. Basically, the questions I am asking are based on the gross operating income what would you offer, and how would you finance it if you didn't have a down payment. Please note I am looking for places with a positive cash flow. 

@Hai Loc thank you!