All Forum Posts by: Ethan Peyton

@Daniel The meeting will be at Shakespeare's South (In Columbia) at about 6 pm on August 7th. I will be there, as will a couple others from BP. There are about 20 people regularly, but feel free to bring anyone! Hope to see you there! Ethan

Jessica Baker
Welcome in Jessica! I'm from Columbia (Just down the road)! We have a REIA here that is fairly good reference for information and networking. If you're interested, just drop me a line and I'll give you the scoop!

Good luck!

Thanks Shelby!!

Thank you for the answers everyone. I really appreciate that you took the time to explain your thoughts.

Stephanie Dupuis
Thank you for explaining this out a little further. That is probably what Jackie was trying to say...though I'm not really sure.

The way you explain it makes sense. So even though I will have $236 more dollars per month I shouldn't look at that as cashflow?

Yes. I get that. But in theory they are comparable. The car payed off is getting rid of a liability. It will clear up $236 a month, which I can consider cashflow.

Am I mistaken here?

I guess the big difference is appreciation.

So I have a choice to make. The two options are very different, but can both be quantified, so they may be comparable.

1. Pay off my car
I owe $7,085 on my car, and monthly payments are $236.
That would make the cash on cash return 40%.

2. Purchase a duplex
I am looking at a few duplexes around $100,000.
My down payment would be about $4,500 (FHA).
Rents at $100 per door would make the return 53%
I would also be living in one of the rooms in the plex.

So the question is, obviously the return rate of the duplex is higher than the car, but there is a huge amount of risk difference.

What would you do in this situation?

(Dave Ramsey vs Robert Kiyosaki death match :) )

Anthony Graniero
One other thing I forgot to mention. What are you looking at these names on? I am thinking it is the Assessor's website? (That's what it would be here)

If so, this is an invaluable tool for you. One great thing this tool tells you is who is investing where. Let's say you get a property under contract, and you want to get that thing marketed and sold. A great place to find a potential buyer is the Assessor's site. Just look at the houses in the neighborhood and see if there is a name or a business that owns several houses around the area.

This person may buy?? This person may want to sell! Who knows, but now you have something in common with them to start a conversation.

I work with a title company, so I use the Assessor's site quite often...lots of good tools from the county website.

Good luck with your mailing!

Anthony Graniero
I am a new investor here. Attempting to wholesale a little as well.

I may be able to give a little insight here. I got a list from listsource.com and am paying $0.08/lead. That means I bought a chunk of 200 names for $16.00.

This is more of a time management question than a money question (unless you don't have $16.00). I believe you are on to something given what you can learn by researching this way, but at some point you have to figure out what your time is worth.

That' just my $0.02 opinion (Or 1/4 of a lead)
:)

Both great answers. I had not thought of these angles. Thank you for the information.

I guess no matter how much I know, it will be impossible to know everything.