All Forum Posts by: Michael King

You are in a prime position with the military. If you can swing it, buy a house at every new base you get stationed at. Get the low interest, live there for your assignment, then rent it out. Several military friends have decent portfolios doing this.

Sounds like you would have panic sold and lost your shorts. These good sized dips are accumulation opportunities. Invest in what you are comfortable with.

Crypto.

Californians fleeing. 

Some of the mailers are atrocious. I've been getting flyers for properties that I have never owned; and thought they'd stop when I moved to Florida. Nope, I got one just today for yet another property I know nothing about, and now they are spelling 'Michael' wrong. I'm now 'Micha'. Luckily I pass the trash can on the way inside the house. 

@Liza Leif Where are your properties and won't you sell just one to me? :D

 Yes same here. I forgot to mention that when I started shopping, it was over a month ago and the rates were under 4.0, then 2 weeks ago they were 4.0, last week 5.0. Seems the economy is really doing great stuff with this and 40 year high inflation. I could go on but will spare everyone my misery.

This is great for crypto! I notice Venmo is offering BTC and ETH, and Tesla.com accepts DOGE now. I have reasonable holdings in crypto in addition to my RE portfolio. Crypto adoption is moving so slow, yet so fast.

Just got a preapproval letter last week from Better.com. My initial rate offered was 5.0%, but if you buy it down in points (seems like play money when they call it that), for the right money-points, I can get it down to 3.875% I think it was. That was getting upwards of $6K to do so.

Hi Patrick, how did you get that deal? Did you go to a home builder with models on display? Or did you find land, then engage a builder to go for it? Or are you the GC and subbing all the work out?

Thank you Khoa, good points. I didn't want to continue owning the property; it was a little more high maintenance than I wanted after the move to Florida. I don't mind so much the maintenance, but the distance is the problem now. Or was. I am going to go back to my old job in St Louis and since I'll be up there, I'll be able to be more of a helicopter landlord again. As far as the tax implications of the sale, I closed 2 weeks ago and in 2022, and inside the 1031 exchange period. As long as I can buy another within the allotted timeframe, I won't have taxes to the tune of approx. $40-$50K.