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All Forum Posts by: Mike Anderson

Mike Anderson has started 3 posts and replied 22 times.

Phoenix, Arizona tops US in population growth more than LA, NYC.   Looks like USAA going to add 2,000 more jobs and many other adding jobs.   Is it going to keep going up?  Looks like it, supply at 2.2 months and declining.

https://www.bizjournals.com/phoenix/news/2017/05/25/phoenix-tops-us-in-population-growth-more-than-la.html

Hello,

I did this on my main to have more cash as low rates.  I used Aimloan.com it's was pretty good!  However, best rates very, I would look at Bankrate.com for rates daily as they change.

Post: Why do you want to be superwealthy?

Mike AndersonPosted
  • Investor
  • Glendale, AZ
  • Posts 25
  • Votes 9

Wealth has brought great freedom.   

It allows me to spend a day with my kids instead of working for some crappy boss.   I think the level of happiness wealth brings depends on the person.    Yes, it's nice to travel the World.

Wealth give me more "choices" which in turn bring happiness.   It also, helps reduce stress that I had before becoming wealthy (stress of bills).

Also, I like being able to go to the store and buy whatever is needed and buy some gifts for others that truly need help (say disabled - not just lazy or entitled), it's rewarding.  I can influence outcomes much easier.

One will hear throughout your life, that money does not buy happiness, and while that might be partially true, money sure does provide more happiness "options", as well as opportunities to help others.

People are BS'ing to say otherwise.  

Mike

Phoenix's Maricopa county grew the fastest last year with over 78,000 new residents.   I wonder if Phoenix is becoming buy and hold as well.   The supply is at 2.2 months and slow declining. 

Post: Flipping, so easy a monkey can do it!

Mike AndersonPosted
  • Investor
  • Glendale, AZ
  • Posts 25
  • Votes 9

It's not polite at all to use the N***** word nor Gringo!   

Gringo refers to someone who is foreign and English particularly someone from the United States often disparagingly!

No need to be offensive.

Post: 12 Mos Rent Up Front- Yes or No

Mike AndersonPosted
  • Investor
  • Glendale, AZ
  • Posts 25
  • Votes 9

Hello,

I have had these kind of offers/renters before.   The only thing you need to watch out for is where is the true money source.  Make sure it's not drug dealing money or something like that.

Post: My first post...looking for open discussion

Mike AndersonPosted
  • Investor
  • Glendale, AZ
  • Posts 25
  • Votes 9

Thanks Dustin - I also have my main house paid in full, so I could pull cash out to buy more rentals.

However, I'm not seeing good CAP rates in multi or single family properties in Phoenix right now (low supply and rents not keeping up with prices).

Thus, I really feel like I forced to hold or move out of state which is much harder to manage.

Post: My Very First Flip Just Went Live on MLS

Mike AndersonPosted
  • Investor
  • Glendale, AZ
  • Posts 25
  • Votes 9

Great job Craig!!  Keep up the good work!   I sold a flip from a Craigslist article before (worth a free line in the water).

Post: My first post...looking for open discussion

Mike AndersonPosted
  • Investor
  • Glendale, AZ
  • Posts 25
  • Votes 9

PS - I guess it's my 3rd post (must have posted years ago) lol

Post: My first post...looking for open discussion

Mike AndersonPosted
  • Investor
  • Glendale, AZ
  • Posts 25
  • Votes 9

Hello,

I started to invest 6 years ago and now find myself with 7 rental properties.   

Status: I have 6 out 7 paid in full.   

It's great having cash flow (7.3K gross) coming in every month but I'm sure that I'm not fully leveraging bank monies to make even more cash flow.   This whole thing seems to have happened so fast it's still a blur.

I do not want to over leverage and lose assets, so I have been conservative.    I have been holding as the Phoenix market has been going up now at 2.3 months of supply left.

However, I now have over a million dollars in rental assets, and I was wondering what my next play (multi, add bank leverage, acquire more) should be?

Thanks in advance...

Mike