All Forum Posts by: Judd Campbell

You used their deposit to repair your building? You should not have done that.

If I have a HELOC on my primary with a balance will that be a problem when I look at financing my 5th property? I have enough reserves to cover 6 months payments on all the properties. I was thinking that was going to be my major hurdle.

I am making offers on my 5th now and it would be a rehab.

@Daniel Patterson and @James Vermillion here is the deal I was telling you guys about

I have a duplex that has revenue of $1600 and I have fixed payments of $935 (not great but it was my first deal, had it for 3+ years)

I have a townhome on a 15 year note all in for 337 on the payments while I rent it for 675/month.

This will put me at ~2.3k in CF / month minus expenses. I manage my own property and I have done a lot of repairs recently on the other two so I "should" be far from the big hitters for now.

Super excited about this deal.

paid 106.5k 2b/1ba 4 plex

did a 30 year at 5.125% for a payment of $435 with Taxes and insurance adding ~250/month.

The place had a total gut and rehab in 2011 including a new roof, floors, paint, HVAC, plumbing, etc.

3 tenants in there at below market rent of $475 each. Section8 goes to 650 so I am going to move over to that as they open up.

Funny thread ! I have always has Porsche's but I get them after they have got past the knee of the depreciation curve.

Porsche 944 in college $4.5k. Drove it for 5 years and fixed it up sold for $6.5k

Porsche Boxster S $20.5k Daily drove for 5 years just needed oil, tires & brakes. sold for $10.5k

Porsche 911 Turbo $43k current daily driver for the past 2.5 years

I judge the ownership cost on cost / mile or cost / year. Not the purchase price. Save up enough to roll your positive equity into the next one and pay cash.

@Account Closed , that makes sense! I am waiting for my competed taxes to get mailed to me so I will check them over when they arrive. Perhaps I misunderstood my accountant.

I was told depreciation begins to reduce at 100k and is gone by 150k in income.

I got into rental property with the intention of using the depreciation on the property to help lower my taxable income. My accountant just let me know that I was unable to use any depreciation due to income limits.

I only had one duplex under my name in 2013 but I will have an additional townhouse and 4-plex under my name for next year. Any thoughts on how to structure these? I was reading that putting them in an LLC would not help.

If i went with a property management company would that change anything? (except make me cash flow a little less ! )