All Forum Posts by: Jake Zimmerman

I am about to pull the trigger on my first deal; a 79k duplex that will generate about $400 a month in positive cash flow.. however, jumping into being a landlord at this time obviously poses it’s difficulties. Any advice from experienced RE investors would be greatly appreciated.

First of all thank you all for immediate and fantastic advice. Long term plans are to build enough passive income to be financially free; we are just getting into the game and paying off the mortgage quickly would eliminate a lot of risk— but I think Robert Kiyosaki would probably say fear is controlling me a bit. If I was single I’d be all in but with a family it isn’t just me anymore. Any words of wisdom that will help me to get out of my own head and take a leap that will change our lives for the better?

My wife and I purchased a single family 3BR 2 bath home for 75,000 in the Midwest at 4.75%. We can pay it off in 2 yrs or rent out @850month. Why not pay it off?  I get that we have more dumped in but to pay it off in that short of a time and increase the cash flow seems like a win/win.