All Forum Posts by: Joshua D.

@Bryan Devitt Thanks Bryan i just have those days where i worry alot.  Thanks very much for the response.

@Nina Hayden Yes we are gonna take it easy for a bit and try and relax. That was a long time ago the stress from the business got in the middle of are marriage haha. But thanks so much for the awesome response. 

@Mike Dymski All sounds right! Thanks so much

@Marc Winter Great advice and i think exactly what im gonna do and wait around for the really good deals from motivated sellers. Thank you so much 

@Jay Hinrichs So with the 8 morgtages or lines of credit still making payments, take one and make more payments on it to pay it down? Actually there are balloon payments on some and the notes are 15 years and with a guy said would take the balloon and make it another 5-10 year note most likely if we wanted to.

@Jim K. What was said on the money show haha? and thanks for the advice. Yes we were at a bad spot with the business stress messing with are marriage. But we are in a wonderful place now thank god. We are trying very hard to keep are marriage good along with keeping a good business relationship.

So we started a buy and hold rental business a little over 3 years ago and have 23 properties. Bank keeps lending us money and basically the debt is scaring me a bit and im like i have no business doing this and its going good but i have my days where i worry alot. So my debt is $895,000 but according to the banks and real estate agents and my knowledge there all worth $2,025,000. I just dont know if this is all correct and what if these numbers arent real?   The gross rent is about $23,000 and after all expenses make around $7,000 but keep spending everything and putting right back into business and are area is really appreciating. My plan is to hold as long as i can and once we slow down a bit  and stop the mortgages are payed off we will really cashflow alot more like right now would be $15,000 once lines and mortgages are payed down. Any thoughts on all this would be very helpful. Me and my wife are both 30 years old also and this has turned into my full time job and i enjoy it most of the time. Beats my old job big time. Any advice or thoughts would be great. Thanks BP

LLC if that is what you mean @Weston Couch

Could you help me and my wife structure are business?

lSo its me and my wife that own are real estate business. We buy and hold properties, me manage them and do all the work. We have contractors do the work and maintenance requests are sent to them or handymen to get stuff fixed when able and we literally do it all. So my question is how to structure this correct with it all my wife does the bills and quickbooks and i over see it all and find the deals and make sure the work is getting done and anything else that needs done. Should we hire employees for anything. Maybe 1 full time guy? We dont get alot of issues but as time goes on we are getting a little scared with it all. We have 21 units, 15 sfh's and 3 duplexes. Im gonna attach my websites and if you have any questions regarding are business model please ask. Would like to really grow this but dont wanna kill ourselfes trying to get there.  I think everything is set up pretty good. unfortunately we dont have a property management company around. 

Please any advice would be great. 

Cant find smartmoves biggerpockets for landlord background and credit checks?