All Forum Posts by: Jonathan Bock

You could analyze the interest expense differential if you wanted to geek out but this is mostly going to be a behavioral decision up to you, no right or wrong only what's optimal in your case.  

Look at your prior filings, we have to jump to a conclusion that you itemize.  None of us can know your complete picture to tell you much more.   

I personally prefer flexibility but having structured amortization does provide discipline if principal reduction is an optimal outcome for you.  

@Jill Jay

BP is adding a tool in March to help connect members like yourself looking for guidance with financial professionals.   

FIRE can be awesome, some drawbacks for sure; I personally experienced this and have seen others go through many of these as well.  

Real estate investment centric clients are not traditionally courted by advisors unless they have assets to manage outside of direct real estate ownership or insurance needs.  

Promotional disclosure - I am in the business of selling professional services to real estate investors like yourself and completely understand it is not an easy task to find a trusted advisor to bring on as a team member.  Wish you the best on your journey to FIRE!  

Jon Bock, CPA/PFS

@David Schiman

Explain the 50% down ?

Of course, I do not know any real details but $126,000 projected gross for a $850,000 purchase price would be appetizing for a lot of investors currently.   

Assumptions well you can pick anything you want no one knows what will happen isn't financial modeling fun.  You're projections will be wrong and that's okay.   

@Nicholas L.

Let us know how it went price tag for you and the fam ??  Did you use an insurance broker to navigate and find your options?

Lots of investors want to quit the W-2 an general protection is usually an after thought.  May have to do a separate thread on this where you can tell BP members your experience with health, disability, life and every other consideration when you leave the traditional employment world behind.  

My situation with ACA marketplace was easier because of age and being single at the time, the good old days with a catastrophic policy haha.  

@Joseph Weisenbloom

Any monetary consideration at all?  Just want to clarify did you receive anything? 

I can only imagine how this relationship would be if you hand over keys and possession to this prospective resident…

@Michael Primavera

Yes the majority of real estate investors have glorified jobs and nothing wrong with that.   Someone with no money and no experience like yourself is going to be working in the biz very hard; the odds are against you but it is possible.  

Likely, you will research a bit and maybe start and stop or never get started at all and that is fine maybe even optimal for you I do not know.  

Hopefully you do your homework and decide what is best for you and make a plan.

Wish you the best on your journey! 

@Allen Clark

Anything specific you are looking to learn?

Nothing really new here lots of people have done this it always depends on you and your specific objectives 

@Rahma Z.

Essentially, if you have no experience with this space be prepared for anything and everything; you will be on an island in the beginning so prepare to adapt.  Eventually, you begin to develop  detachment as a survival mechanism.

Some people find it really easy for others it is an adjustment to work in this space and see the reality.  

Tell us about you and your goals/values ?  Those may help clarify if this is something you should consider for yourself.  

Robbie, 

Local to you CPA/PFS in Bryn Mawr we should talk shop and of course check BP Tax Finder and posts lots of great practitioners on BP.  

@Michael Primavera

You will not be known as a high quality landlord if that is your desire do not enter the glamorous world of low income housing. 

My first buy was a 50k SFR that was rented at 1447/mo to a voucher recipient they had no tenants portion of rent which is always great. The numbers are appealing but if you have no experience be prepared for drop shock.