All Forum Posts by: Mamie Phillips

Thanks for the post, Steve. I'm in Westhaven and didn't even have to advertise to lease it. High demand lease area for sure. we've just seen 100k swings over the past few years and that makes me nervous. I don't mind holding for the long term to make 100k in a few years. worried about it flattening out again and no real appreciation. I need to figure out how the numbers work in this business for sure.

Wow, bobby! that really puts it in perspective. I'm in Franklin..where are you? Hmmm, a lot to consider there. More units = greater cashflow. Investing 101 I'm sure. I think buying a multifamily and getting my feet wet will help me feel more confident in my decision making abilities. then I can consider selling the high end house to free up cash for additional multis. you putting it in numbers really shows the cashflow I'm passing up.

Thanks, Ali! I'm actually in Franklin. I went to MTSU too! 1989. :) Love Demos! Thanks for the reply. Already owning it is a big plus. Have great tenants that already lived in the neighborhood. I'm just worried if the market takes another dip/dive it will all be for naught for appreciation. but I guess that's part of the gamble.

thanks, Jesse. Multifamily would certainly provide more cashflow, but I know it's a ton of work. I know I will have appreciation and the tenant will paydown the note, just seems like a long time before I will realize any gains from the high-end house deal. I also have a pretty demanding fulltime gig, so not wanting to put in too much work.

I've really learned a lot reading these posts. Thanks to all for taking the time to share your knowledge.

I have a 450k house that I've lived in for a few years. I just bought another house (300k) and am going to rent my current home and downsize. My question here....I will have minimal cashflow from this rental property (mortgage/hoa/ins/etc is $2400 and I've rented for $2800). I expect the $400 mo profit to be eaten up by maintenance. What are the advantages to holding a high-end rental over three 150k houses? I'd like to grow a portfolio and I'm not sure if starting with a 450k house is the right place to start. I already own it...so seems logical.

Thanks so much! I look forward to contributing soon...but for now, just listening and learning. :)

Mamie