All Forum Posts by: Franck Brichet

@Lee Ripma thank you for your response. I appreciate your feedback.

@Theresa Harris Thank you for your response. I appreciate it.

@Jonathan G. Thank you for your feedback Jonathan.

@Jon Schoeller

Thank you for your response Jon!

Hi,

I’m fairly new in the world of investment and I am wondering what you would do if you were in my shoes.

I have (only) one rental property. It’s worth about $300K and I owe $100K on so that leaves us with about $200K in equity.

In 8 years it will be paid off (we did a 15 year loan) and I currently rent it for $2,000/month. Cash flow negative $200/month. The house is in very good condition and we have great tenants who could stay there for the next 10-20 years.

My goal is to build wealth in the long term. What would you do with this $200,000 if you were in my shoes?

I was a teacher for 11 years and just quit my career and became a full time real estate agent. Still a newbie but loving this industry it so far!

Thank you in advance for your feedback!

@Melissa Wesling Hi Melissa, thank you so much for your response. I really appreciate it!

Would love to take a look at the break even analyzer. I’m not sure how to message you directly. I tried to leave my email address on this post but it’s not letting me. I’ll research it. Thanks in advance!

Thank you Drake and Tyler! I so appreciate your feedback. Drake, I might take you up on your offer and give you a call to chat more about it. 

Hi,

I am new to BP and this is my first post. Here we go:

My wife and I have an opportunity to buy an old lake house at the lake of the Ozarks for 60K. It’s in a desirable location. Our idea is to buy it, bulldoze it, and build a brand new home on it and use it as a vacation home and also pay for it it by renting it on Airbnb. We’re really excited but we are afraid to make a huge and costly mistake.

Here is a quick summary of my calculations:

Total cost of purchase + build = $410,000

Rent = $4,000/month

Cash for down payment = $50,000 (that’s my pension working as a teacher for 11 years).

On the paper it seems that it would work but I’m afraid I’m forgetting something. Any feedback or advice would be much appreciated.

Thanks,

Franck