All Forum Posts by: Greg Jeanfreau

@Judy P. The interest part is state law I believe. We do not have to pay interest on either in Louisiana.

@Pavel Shemyakin Dang dude, how much you want for those claw feet? Seriously, I've done that also. We had one hell of an herb garden going in one on the side of our old house.

We just had three of the feet come off of a clawfoot bathtub in one of our rentals. Scared the sh** out of the tenant taking a shower and broke pipes in the process. That is all.

@Shane Craig Oh, and our interior paint color is the same across the board. Our places are historic and we like to keep the exterior colors a little funky, so I keep a spreadsheet of all the colors with codes.

@Shane Craig I use Docusign for all leases, addendum, rules, etc so that everyone has a copy. My wife and I wrote out a little handbook for our systems/processes that is ever evolving. Our lease is also ever evolving. I push for electronic payments until they happen without fail. NO checks. NO cash. I am slowly getting rid of DIY repairs even though I sometimes enjoy them. Not really Earth shattering stuff, but excited about the thread.

@Tony Lee I think that what he is saying is if after PITI + CapEx + vacancies etc...if there is not positive cash flow with a 15 year mortgage, then he passes. I was the same, but have become a little more flexible with the current market. I still use it as a test to see if the deal is worth looking at.

@David Adams That's what I'm talking about!

@Payton Reid I pay cash to get the better deals, but cash out refinance asap to leverage debt. If you don't use debt, you're missing out on the largest gains that RE has to offer. As many others have stated, leverage is the best way to scale and move faster. Another factor that you have to consider is inflation. Let's say we're at about 2% inflation (or much more depending on who you ask) and borrowed $100k with an interest only loan. As time goes on, that debt is eroded and in year 2, that debt is now worth $98k. Then $96k the following year and so on. You also need to think about asset protection. People talk about comfort and safety with outright owbership. But, unless you are 100% perfect with how you handle asset protection (no comingling - most of the time this is not the case), lawyers can see all of that equity ready to be stripped from you. If you are leveraged across as many properties as possible, the juice simply is not worth the squeeze.

I would consider myself conservative. We only take out 70% LTV and do a hybrid of 15 and 30 year mortgages.

Good luck!!!

@Leah Israel I love this! Congrats on getting it back online and keeping it in your family! My grandparents had a corner store in the 7th ward that I wish I could have gotten my hands on.

@Alvin George My top 3 in no particular order would be:

Crescent Title

Audubon Title

Winter's Title