All Forum Posts by: Eric Gerakos

Oh my brothers and sisters, let's fast track this thread to where it's going. Someone must have owned the cave/stable/shelter that Mary and Joseph sought refuge in on Christmas Eve. Without a rented roof to be born under, our Lord and Savior would have died of exposure "on a cold winter's night that was so deep." Ergo sum, rent is not evil.

Can I get an amen? Can I get a hallelujah?

Quote from @Josh C.:

I think pulling a heloc is fine for a down payment and I’ve definitely done that. However spending 2MM on something that cash flows $50-$100 is insane. You are asking for negative cash flows issues.

However, you sound rich with a 2MM+ primary and maybe you just want to park your money in a local hard asset which is totally fine if that’s what you want.

But if you goal is lots of cash flow and lots of doors this property does not fit that plan.

Thanks for the insight, Josh! I’m not putting in all of the $2M equity into this one property😊 just the 25% down payment for the 550k property. Plan is to get the rental income to payoff  the mortgage. Only potentially rich with the equity in the primary 😊

however, my original question wasn’t about this first property though. I’m wondering what leverage do people use to get more doors?

Hi All

I am a newbie and have no idea where to start. Can someone please give me some pointers?

Thanks

Jay

Quote from @Bruce Woodruff:

@Sapir Simply Well there you have it! Looks pretty lopsided in favor of retaining your REAL name....go out and take advantage of that incredible name!

No, you have a lot of lopsided support for this BS about authenticity from people with Anglo names and weak imaginations who didn't grow up here being told repeatedly to go back to where they came from.

Bruce, my first name is not really Jim. It's the Greek version of that. My last name is also Greek as hell. I can still remember in the first grade when the teacher specifically asked me to spell out my first name AS IT WAS WRITTEN ON MY BIRTH CERTIFICATE (my mom and dad always called me "Jim"), I was unsure of the spelling. My parents had never shown me my long-form American Born Abroad birth certificate. I'd only ever seen my birth name written in the Greek alphabet.

My first-grade teacher turned to the entire class, laughed spitefully, and said, "Imagine that. Not being able to spell your own name."

Bruce, I sincerely doubt you ever had an experience like that.

I don't need to be more REAL than I am. My people were writing philosophy when yours were worshipping the grass snake and drinking each other's blood out of skullcaps. I instead need to get along with "the bumpkins," to quote Paul Revere's father for why he changed his own name from Apollos Rivioire when he moved to the New World.