All Forum Posts by: John Carpino

I wish I had known about House Hacking! I would have bought a duplex or multi unit and made money in my sleep from the start! I am a lot more Savvy now, with 7 properties to my name and approximately $3500 of profit per month. I have achieved a lot in 5 years, but I have a lot farther to go to reach my goal of financial independence in the next 5 years!

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $21,000
Cash invested: $28,000

This was a gut rehab in Kalamazoo, MI. This made me a great initial cash flow of about $900/month. Refinanced in 2020 for 74K Cash Out. Current cashflow is about $500.

Until September, the Govt had a benefit in place to actually PAY your first 6 months of payments for an SBA loan. I almost bought a business at that time, but it didnt work out. If you find a lender who takes less than 20% for commercial loans, let me know. It is hard to find (but not impossible).

Awesome work!

People thinking there will be no downturn are highly optimistic. there are 4 million people delinquent on their mortgages as of October 2020. Half of them are more then 3 months delinquent. About 3% or mortgages across the board are upside-down. So once the stimulus packages run out, we will have a few foreclosures, but nothing like 2008 when so many people were upside down. However, inventory will skyrocket from all the people who are stuck unemployed and the people who have been waiting to sell because of not wanting people in their house. When inventory is up, prices go down. I am confident there will be a downturn based on the numbers.

Hi there! I am more of a buy and renovate investor, so I dont have any advice for development of a place. But I just want to say good luck! The knowledge and contacts are all here! You can do it!

LVP gets my vote every time!

Hey Kyle, Great work! I am working toward the same thing, but I only have 12 doors to my name so far. But I think you can do it! When you do this full time, you will be motivated to succeed, even more thanyou currently are! I believe in you!

Hi! I have a Masters Degree in Nuclear Physics and I stayed in school until I was 30. I was also poor until I was thirty. I did end up with a pretty decent job at the end, but many people with bachelors degrees in engineering make the same amount starting at 22 years old. I didnt really start tapping into more money until I invested in real estate. I make about 45% of my salary from passive rental income, and this goes up every year (been investing in RE for 5 years). I should be able to retire (if I want) within a few years. 

However, you usually* need at east a little money saved to start investing. So here is the bottom line: If you go to college, get a degree which will let you make a good salary right off the bat after bachelors so that you can start investing ASAP. You can also take out extra student loans and use them for downpayments on houses (but dont tell anyone I told you). OR get a job in real estate, sales, or some other self driven career right out of high school. When you work in a job where you are paid according to your results instead of the number of hours you work, you can maximize efficiency and income, and start investing. Either way, the path to financial independence is through investment, NOT through a job. Jobs just give us the means to get started with investing.

Thanks!