All Forum Posts by: Account Closed

Thanks @Steve Hall and @Scott Smith. Will plan accordingly. 

Thanks @Steve Hall, @Darius Kellar for the response. 

Does this mean growing your portfolio is the only way for increased cash flow? I work in manufacturing and thought 3 or 4 Free and Clear houses give enough cash flow in retirement... now I'm in dilemma...... is rental real estate only for full timers or real estate professionals?

Hi,

I'm planning to start snowball payment of mortgage on my 3 duplexes and after going through some previous posts saw the major disadvantage is an impending lawsuit from a tenant. Are there any statistics on this? Is it just the fear of losing what you earned kind of paranoia? How common is this phenomena? 

I have umbrella insurance covering all the 3 duplexes.

Thanks Dave for the response. 

At what point do you think is becomes a must to recapture depreciation ?

When I convert to 1031 ? or when I make the bigger investment home into my primary residence? 

Hi,

Not sure if this makes sense, here is my grand plan

1) Buy few Duplexes/Fourplexes that give cash flow (around 5, and as many as possible)

2) 20 years later with substantial appreciation, use 1031 to buy a million dollar home. 

3) rent for reasonable period, say 2 years

4) MOVEIN to the home, to make it primary residence. 

5) After 2 years SELL. no tax for first 500K. HURRAY!!!!

Any loopholes in the plan?

Hi,

I just joined BP as most of my searches are directed by google to BP. Glad to see such a great site.

My question is about lenders thinking when they look for <40% debt to income ratio. 

What does lenders expect a consumer to do with their remaining 60% of income?

All my daily/monthly expense are taken care by credit cards.

My primary home mortgage payment is already considered taken care by debt added in the DTI.

Am I missing something here?

Regards,

Balak