All Forum Posts by: Mario Ramales

Hi Daniel, 

I am in the same boat as you are when asking about a survey. Now that it's been a year, did you get a survey done on the house? And if so, do you think it was worth it?

Thanks,

Mario

Hi Bram, I hear exactly what you say and I agree with what you are saying. However, the issue I have with this is that it will take 30 yrs to get the full cash flow. Yes I would have payed only say 30% of but it would take 30 yrs to retire. I know the other solution is to keep buying multiple houses, and eventually enough will give me the cash flow i am looking for to retire. The problem with that is that now I will have to 'deal' with tens if not hundreds of rental units. That could be a nightmare especially if my goal is to retire without hassles.

Again, I figure if I can pay cash or most down payment in a house to have the most cash flow, I can retire after 5 or so property investments. That number is manageable by me and it would take half the time since I have a decent paying job and with the cash flow going back to the next investment. Again this is my theory.

Greg, can you please point out the podcast number? I am having trouble finding it.

Bram/Mark, but wouldn't an all cash paid for house provide more cash flow? I understand more leverage means less out pocket expenses, but it would take many yrs and many more properties to get some decent cash flow. On the other hand, a house paid for would start the cash flow right away.

Mark, my original idea was to busy SFHs paid in full cash. However, I also heard that a multifamily can be better in that instead of fixing one roof, you now have to worry about one, ...one foundation...etc. So it kind of makes sense to buy multifamily homes in that regard. 

I would love to hear both of your takes on this.

I forgot to mention I have a decent full time job so I would be purchasing homes from my salary plus the cash flows the house generates. My plan is to buy a multifamily home every 2 yrs almost fully paid out and receive the cash flow. After 5 or so houses, I believe I will be able to live of the cash flow.

Again, thanks for the feedback and I would love for anyone's experienced input on all this.

Thanks,

Mario

Hello BiggerPockets community,

My name is Mario. I am based out of NJ and I am seriously ready to start a career in real estate. I have saved enough to start buy my first multifamily. However, i have tons of questions. I will keep looking at the forums in search of my answers but if anyone here can help out directly that would be much much appreciated. 

Basically, i am debating whether it is best to use all my money for a 50% down payment, or use the power of leverage. Also, 30yrs or 15 yrs mortgage, which is better? I have these and many more.

My ultimate goal is to retire early. I am open to any suggestions that you may have or that have helped you get there.

Many thanks,

Mario