All Forum Posts by: Jordan Alexander

Thank you for the advice AJ! Learning is great but we must remember to also take action!

Thank you for the information Charles! Kansas city was not on my radar before, but seems like a great area to invest. I'll definitely keep it in mind!

I have yet to go, but they seem like a lot of fun!

Very well said @Samuel Maddox! Seller financing is about the seller, not the property. Build a relationship and figure out what their goals are and what they need. It's all about creating a win-win situation for everyone.

Hi Andy,

Use BiggerPockets and see if there are any meetups in your area. You can also find an investor friendly agent who invests and I'm sure they would be able to help you out.

Hi Tyler,

First off, congratulations on being engaged! The wedding will be here before you know it. My wife and I have been married almost two years now and it's how fast time flies by. Reading your post popped two words into my mind: House Hacking! I'm not sure if you plan on investing in real estate, but house hacking is a great way to have little to no housing expenses, and you purchase an asset as opposed to purchasing a liability like a single family home or condo. Go into the bookstore and pick up the The House Hacking Strategy. With an FHA loan, you are only required to put down 3.5%. I hope this helps! Congratulations again and enjoy this time!

Quote from @Ian Barrett:

@Michael Dumler This was extremely helpful, thanks! I've also noticed that MFHs are hard to come by around here. I will be shooting you an email soon. 

@Nathan Gesner @Jordan Alexander Thank you for your advice! I will keep your words in mind as I am searching for properties and considering what will work best for my situation

@Jaron Walling I especially like your advice about preparing what I'll need today to act tomorrow. Thank you!! 

 Of course! Happy investing!

Quote from @Simon Ashbaugh:

Quote from @Jordan Alexander:

Equity comes, equity goes, but the cash will always flow. - Pace Morby

Buy for cashflow! It will allow you to succeed in any market cycle.

 Pace is a G

Pace is such an awesome guy! I'm currently listening to the rookie podcast he was on a couple of days ago, and this guy is just a wealth of knowledge!

Quote from @Chris Stonestreet:

Quote from @Jordan Alexander:

Hi everyone,

When does it make sense to pay off your primary residence? Thanks!

 This is one of my favorite discussions because it truly is a personal discussion that has multiple rights and not a lot of wrongs. The simple fact that you have the money saved to pay off your mortgage and you're considering this option means that you have put yourself in a tremendous financial position, so CONGRATULATIONS!

The math says not to pay it off, 3.375% mortgage seems like a fantasy world now that we have seen rates more than double. Also, the fact that you're so young puts time on your side to let investments appreciate. It also appears that you could weather a lot of storms because of the cash position you have established and you're obviously making significantly more than you spend. But man it would feel good to live in a property that is free and clear!!! 

That being said, my advice would be to invest that money. Anything above a 6-12 month emergency fund I would be putting into (potentially) higher returning assets like real estate or index funds. You're so young that even if we hit a big recession, you can see it through to reap the rewards of your investement.

Thank you so much Chris! I appreciate you breaking down everything as opposed to saying one or the other. Living in a place free and clear would be awesome, but I’ve heard numerous times that recessions are where people can start building wealth. That’s why they call it personal finance, it’s personal haha! Thanks again!!

Definitely look at seller finance! Also, talk with a tax professional and see if you can help the seller come up with their game plan.