All Forum Posts by: Darin L.

Welcome to Poky!! Tiffani Mai-Ganske will be a great resource for you. She is a realtor and owns properties with her husband. 

@Chris Yeung. I invested in a fund with Norada and everything is legit. Interest payments hit my account as expected. Marco is great to work with and will answer all your questions. I had plenty questions when I was determining if I wanted to send him my money, and I was able to talk with him directly very easily. Also, check out his podcast...one of the few I have continued to listen to over the years and stays current with good content.

Idaho Central Credit Union is doing cash-out refi's for investment properties. 3.75% for 20 years.

@Peter Vander Ploeg

This is what three CFPs had no idea how to help me on...

Address or Create some software that correctly analyzes a paydown phase of rental properties. I would be happy to partner with you on the software creation!

Consider someone who has purchased several rental properties at 20% down and is planning to match a payoff of all loans to a retirement date with pensions starting (military, state, etc).

Assuming there will be no more purchases and a set amount of monthly money (cashflow plus additional owner input) is used to paydown loans via debt snowball/avalanche process, what is the actual timing of the payoffs? Be sure to include continuation of taxes and insurance remaining as an expense and increasing by a certain amount each year. Then, make it update-able without losing a copy of the original plan, so that I can compare on a regular basis if I am still on track or how far off-track (time and dollars) I am and how to get back on track.

It took me many hours to get a spreadsheet that i think gets me within a year or so of a correct payoff date but doesnt correctly account for taxes and insurance.

@Russell Brazil. He has a book out as of March 20, 2020. I just read it and its worth reading. If you believe him, he gives you specific action items.

@Alan Grobmeier. I just read Dent's latest book when the bubble pops published March 2020 as it was popping. Your thoughts? I rend to give him alot of credit but always with a bit of skepticism. Reading Roaring 2000s in 2000 led me to buy a house in CA in 2001 and sell in 2005, a bit early but ahead of the crash, and that set me on a real estate path.....so I like him. He says sell everything and wait a few years to buyback cheap. Alot of what he said was correct.....book is short and some repeated stuff so could have been put together in a couple weeks by a good team....timing of the book is interesting.

@Franky Aikens

Here are three that changed my life in addition to many already listed.

1. The One Minute Manager Meets the Monkey - Ken Blanchard. Given to me when I was a 2ndLt and desparately in need of some management skills.

2. 21 Irrefutable Laws of Leadership - John Maxwell. Found this as a Major and needing some leadership guidance. Now I give this book to anyone I mentor.

3. Secrets From The Mountain - Pat Williams - not a blockbuster book or author but has many concepts I can really relate to as a guy who would rather be on backcountry trip than sitting in my house.

@Liz Collier. Know what your funding fee will be. There is no PMI but a funding fee (not sure of name here) of approx 1.5% will suprise you at closing if you havent asked about it. This fee is waived if you have 10% or more service-connected disability.

Ellen, the risk i referred to was that i dont know anything about building and the location is not so great because it is far from schools/etc and there are several other rentals in the immediate area. I havent seen the plans, either but can imagine it will be crowded with two more buildings and parking there.

@Ellen McKinley @Ellen McKinley. I have seen that property and considered how I could make it all happen and have two new multi-families at the end of it. There are alot of duplexes/multi's hidden in that area closer to the railroad tracks, too. For me, it just seemed that two new buildings would be too out-of-place to make sense and get past any risk. The concept is awesome but too risky for me. If you do it, I will be very interested to see how it goes.