All Forum Posts by: Kenneth Joseph Perfido

Hi everyone. I moved to a new state and was curious to see if I should open a new LLC for a new state and if anyone had reccomendations other than a local attorneys office to create one. Has anyone used online lile Zenbusiness?

Thanks for your response everyone. Very very helpful. 

Context:

I’m seeking advice from those experienced in real estate investing and financial freedom strategies.

I recently bought a multi-family property in Newport, RI, using my VA loan for $695K. I'm no longer house hacking, and all three units are rented out, generating a total of $8,200/month in rental income. My monthly payments (mortgage, insurance, taxes) are roughly $3,600, leaving me netting about $4,600/month.

I have four years left until military retirement, after which I’ll have a pension, some disability income, and rental income from this property. This setup alone feels like a solid foundation for financial freedom.

Here’s my dilemma:

While I understand that my mortgage interest rate is very low (2.8%) and there are tax benefits to carrying the debt, I’m wondering if it might make more sense to aggressively pay off the loan. If I pay it off, I could maximize cash flow earlier, reducing financial stress and allowing me to focus on other ventures or simply enjoy life more.

On the other hand, I know some people advocate for keeping cheap debt and using the extra cash to invest elsewhere for potentially higher returns.

Why I’m leaning toward paying it off:

Security: No debt = peace of mind.

Financial freedom earlier: A fully paid-off rental would give me a significant monthly cash flow?

Retirement simplicity: Fewer financial obligations as I transition out of the military.

Questions for the group:
1. Is it worth keeping this debt for the tax benefits and low interest rate, or would you focus on paying it off ASAP?

2. Are there better ways to leverage this property or extra cash flow to accelerate financial freedom?

3. Has anyone here retired debt-free, and how has that impacted your life versus maintaining debt for investing

Looking forward to hearing your thoughts and experiences!

Hey everyone. I am new here and looking to diversify my portfolio into real estate now. Putting in an offer on a duplex in the Newport, RI area and without walking inside of it quite yet it will need some cosmetic upgrades inside to make it slightly more appealing to renters and make it renter proof for me. Is it best to match both sides? Should I furnish one side to give an option? I plan to use existing furnishings and give them a face-lift to save money. Looks like I would need to go ahead and get new kitchen appliances because they look very outdated as well. Any advice would be great.