All Forum Posts by: Eric Brown

@David Dye, Hey David! I'm stationed in 29 Palms. Not the California from the posters. ha.

@Dacia Ray I am definitely thinking a lot about doing AirBnB. I'm about +225 on cash flow each month and paying down about $380 on principal on a ~$280k property with a $250k note. I have a feeling I could do maybe +1k/mo MORE (perhaps +$1.5k) with AirBnB but I'd need to do a remodel at a cost of around $22k and then furnish it (maybe $15-20k?? no ideal. it's a 1200 sq ft 3/1.5 that I would make into a 2/2.5). So I'd kinda be obligated to keep it as AirBnB for 2-3 years to recover my costs). Of course I could go recover the furnishings or sell them but I'm in California at the moment and the closest I can ever seeing myself get again to NY is Texas. As Manhattan and Brooklyn continue to get out of control, Beacon is following so pure market appreciate may work in my favor too...

@michael 

@Account Closed Tallahassee area. and yeah, no doubt business is business. The good part is he and I deployed to Iraq and Afghanistan and have been through some interesting things together and the bonds we have tend to be strong. We decided to keep it informal until we had the deal done and now we have an operating agreement, LLC, bank account, etc. But funny enough, the deal came to me from a former Navy pilot buddy of mine (now a realtor in the area) and we had to move quick with cash. So once the offer was accepted I wired about $10,000 to my buddy and sent a power of attorney and he closed on the house with only my name on the title. So you could definitely say we moved with trust. I sent money on trust and he was out $10k of his money into house only my name. haha. But now it's formalized. As the deals get bigger, we will hire an attorney to help cover everyone in the event of death, divorce, etc so that everyone is protected.

Good evening fellow Bigger Pocketers. I'm a military pilot currently stationed in California. I've bought and sold 3 previous homes that I purchased while stationed in various places. I typically like to buy "broken toys" that have some value I can unlock with either renovations or just some love in the form of paint or cleaning up the exterior. I still have one property in the Hudson Valley, NY area (downtown Beacon) that I am renting and I plan to sell it in a few years (I'm thinking about making it an AirBnB property. Thoughts?)

I just purchased a small house for cash in North Florida with a friend of mine and I plan to continue buying multi family properties in that area. Since I'm full time military officer I don't have the ability to take care of the time intensive or short notice requirements that pop up as a landlord. My buddy's main income is his properties so he manages the properties we buy.

My longer term goals are to finish up my military career, get the small(ish) pension, probably fly for the airlines and continue building up my real estate empire (ha!) to where I am mostly financially independent - not being a wage slave and sweating going to work every day and praying I'm not going to get laid off.

Ahh, I see what I did. I computed what she'd owe after TWENTY years, not ten (like you asked). Sorry, I read this right before getting on the plane and I did the math while flying...it's been a long couple of weeks in the desert.

And we're all making an assumption here that she paid on time, didn't take on additional mortgage debt against the house, etc.  I'm with Jay here, you gotta see what's REALLY going on there because the math just tells you what SHOULD have happened. haha