All Forum Posts by: Karim Talbot

Thank you all! 

Yes, looking at it one year at time is not relevant. 

I would love to have 5 properties at some point, but right now I have a business to run and 3 young kids. I do not have a ton of time to be looking.  I’m also looking at other businesses. I feel that if another home or business opportunity comes around I can always leverage the rental. I do have a little more cash to throw a down payment on something else as well. I also need to see about how to use my Roth funds for this, but it’s just time to do the research on how all of that works. 

Right now seems like a tough time to buy well unless you really have the time to dig for great deals. Something I don’t have a lot of.

I was in a lot of debt (the bad kind) in my 20’s and 30’s and spent my 40’s digging out and getting ahead. I’m a bit debt averse these days.

Thank you all for your comments thus far.

First time getting into REI and my current plan is to buy with cash. Is that generally not a great idea?

Right now if I keep $340k in the bank at 4.5% I would earn $15471 in interest in a year.

If I use that to buy a house local to me, I would make approximately $22800 in a year after taxes fees etc. I have not taken into account any of the tax benefits just yet, but I know they exist. 

I run a company (that I have some equity in) and do not have a ton of time to spend on this, but would like to start diversifying and dip my toe into this. If all goes well, I can start looking at more properties down the road. 

I am looking to hold the property long-term.

Any thoughts on this would be greatly appreciated.

I do own our current home out-right and our only debt it a car payment on my wifes car. It's at 2.2% so why on earth would I pay it off. :-) 

Thanks in advance!