All Forum Posts by: Mike Dymski

I would sell a property if there were no better choices than a resident with concerns.

If your "why" is not bigger than your "how", it makes sense to sell and find a "how" that works better for you. REI is supposed to make life better, not worse.

There are thousands of (nauseating) posts (ads) on this subject.

You are wise in being nervous and humble.  Invest in what you know, in what drives your personal investment success, and what you have a passion for.  Don't invest in real estate because your parents own real estate.

Your dad's net worth in excess of 5 million puts him in the top 1% of Americans...that's impressive.  Hopefully, he provided guidance on how he wanted things handled.

Paying down $500 extra on two loans at the same interest rate is exactly equal to paying down $1,000 extra on one loan.  Your return for paying extra principal is equal to the interest rate on the loan...6.625%.  Whether it is better to pay down the loan or invest the funds elsewhere depends on whether one can generate a higher (risk-adjusted) return than the interest rate on the loan.

Most, if not all, of the $10K per month posts come from people who have not purchased a property yet.  It's a wish rather than an informed goal.

I find it better to focus on systems/actions (analyze X properties, offer on Y, close on Z).

You're better off having none than having one used up roll and a surprised, angry guest in a predicament.

It's not a barometer of success, it's just a starting point for helping a little to understand the experience of the members we interact with. Putting things in our bios like CoC, ROI, and IRR would not help much and things like our net worth, AUM, or equity would not be appropriate. Most of us understand the limitations of unit count and those who use it incorrectly just reveal their issues.

I focus on profit per property; so, agree with your thesis.

A hard money loan is still a loan/financing, not a cash offer.