All Forum Posts by: Fernando Jimenez

when I had my sfr rentals I would do all the yard work if that's what we had agreed to in the lease. I would just add it to the rent and do it yourself. or, get quotes from a couple landscapers and make a deal with them and charge it on the rent.

i do, brent. i do.

she says she is on board. we talk about which areas and which properties would be a good fit. the hard part is controlling her buying impulses, which have gotten way better as time goes by. a big factor, or at least i think it is, is our age difference. i am 32 and she will turn 24 in a few months.

thanks for the links, frank.

the jeep is my wifes. she is the one that wanted it and had to have it. honestly, i kind of won that little battle. she actually wanted a new Mercedes ml and was double the jeep. so, even though it was still a terrible decision it was better than the Mercedes.

i myself drive a 2002 chevy s10. 175k miles on it and plan on just putting another engine when this one goes out. trust me when i say, I'm the biggest cheapskate around.

thanks all for your input.

I guess I knew all along the responses I was going to get. i'll keep my nose to the grinding wheel and pay off the debt and get started at the beginning of 2018.

as for the car loan, I'm stuck with it. my wife refuses to get a used 5yr old car that is in good conditions. she throws the safety and repairs arguments at me. the kicker is that i am a mechanic. lol

thanks to all that replied. really do appreciate the advice.

the debt we owe is low interest. actually lower than the mortgage. except a few student loans.

CC is 5k that I will pay off in December with 0%.

hospital bill we have of 2.5k will also be paid off in December with 0%.

student loans of 8.5k at 3%-6%

personal loan of 17k at 2.99%. house reno loan.

car loan of 22k at 3.11%

mortgage is 71k at 4.375%.

I need some help running these numbers as I think I might be messing them up. I'm not all that familiar with cashout refi.

if I owe 71k and the house is worth around 180k, can I get 109k, not counting closing, in the refi? or, can I only get certain percentage of the value of the house?

I'm debt averse but when we got married I gave in to a lot of the wifes wants in renovating our home.

we have a good amount of equity on the house.  owe 70k and valued at 180k.

need input from people that have been in this situation and survived. I am conflicted with this situation at the moment.

I had 3 rentals several years ago and got rid of them after getting married. it's been 3 years since then and am getting the itch to get back in the business. the problem is that my situation financially is completely the opposite of when I had the rentals before.

I was debt free, except rental mortgages, with a big safety net to help with the unexpected rental problems that always seem to come up. right now we are in deep debt and little to no savings. I know the answer before even asking but it is our nature to ask.

we are $60k in consumer and have $70k left on the mortgage of our home. we're working the debt snowball and calculate to have all the debt paid in about 4yrs. not counting raises and my wifes bonuses she gets.

I guess here is the question; should we consider getting 1 rental to start now or wait till we are debt free and have a substantial safety net? our main goal is to get 1-2 rental a year, sfr, until we reach 25 units.  

if you guys need any more info ask away. thanks for your responses ahead of time.

to add to the reply from Zach. that is also the case in ft worth, but with one minor detail. you can prune overhanging tree limbs as long as it doesn't jeopardize the trees health. this has happened to me on my personal property. I called the city and that's what they told me.

hi, my name is Fernando jimenez. been in ft worth for 11 years, raised in florida. I'm 32, married, and have a wonderful 1 year old girl. trying to get back into the buy and hold game again.

I bought my first property in 2004, at the ripe age of 20, lol. I bought 3 more properties, single; 3:2 houses within the next few years. I rented those 3 and had a negative cashflow of about $50-$100 on each, ouch. luckily I had a good paying job at the time.

fast forward to today and have sold 1 house, gave one to my brother to live in, and gave him the 3rd one to manage himself.

I'm trying to get back to investing in properties. been listening to the podcasts and reading how to do it right this time. my main goal is buy and hold with an occasional flip, if numbers look good.

hopefully I can learn more and apply all I have, and will, learn on this forum/site.