All Forum Posts by: Martin Neal

@Michael Brant if it appraises lower, you don’t have to refinance. You will be out of the appraisal fee though.

@Chris Cooper that’s an old version. @Mindy Jensen needs the 7.0 contract. I can get it for you if you still need it.

@Florent Useini You won't get a lot of argument from me. The MLS is not filled with deals right now. Doesn't stop you from offering on properties through. You will be surprised who says yes to what.

@Kaylee Pratt

2011: purchased a condo for $46,000 with 5% down.

Lived there for 5 years and paid off the mortgage.

Became an accidental landlord in 2016.

Property is worth over $160K and has been the key to acquiring all of my other rentals.

This one property literally changed my life.

@Brandon Miller it depends on what your goals are. Sounds like you want security more than growth. I would accumulate several, then pay them off one at a time. If will be easier to pay off one with the help of 5 versus one by one in my opinion. Good luck.

@Justin Johnson The first one is usually the toughest because there are so many unknowns. Trust your numbers, and push through. Those jitters go away after a while. Good luck.

@Todd Powell That’s unfortunate but this is partly what the cash flow is for, one income stream comes up missing, the others carry the weight!

In Illinois for investment properties, I'm seeing 6% or higher. No one wants to lend to LLC. I've been forced to use the lenders with higher rates. If there is a lender in Illinois that does it in Illinois for lower and through the LLC, please speak up!

@JC Leach it’s about your comfort level with being that leveraged. Being younger and a little more pro risk, I may do it. Considering we are coming out of a pandemic, I’m holding out for great deals, not just good deals. Good luck.

@Phil Wells People are creatures of habit. It’s a big decision to move, leaving behind family and friends. I don’t think we will see a big shift.