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All Forum Posts by: Michael Swan

Michael Swan has started 14 posts and replied 1095 times.

Post: RE MAKES LOWLY PAID TEACHER MULTIMILLIONAIRE!!!

Michael SwanPosted
  • Rental Property Investor
  • San Diego, CA
  • Posts 1,161
  • Votes 2,122

Hi Stephen,

Not interested in selling properties the way you suggest.  I 1031 exchange my properties for higher cash flowing properties.  I am not into speculating anymore.

Swanny

Post: RE MAKES LOWLY PAID TEACHER MULTIMILLIONAIRE!!!

Michael SwanPosted
  • Rental Property Investor
  • San Diego, CA
  • Posts 1,161
  • Votes 2,122

Hi Freda,

Don't fall for instant gratification, something for nothing, late night flipping garbage.  Save and learn and invest your money in cash flowing property.

Swanny

Post: RE MAKES LOWLY PAID TEACHER MULTIMILLIONAIRE!!!

Michael SwanPosted
  • Rental Property Investor
  • San Diego, CA
  • Posts 1,161
  • Votes 2,122

Hi Joseph,

I was wondering if you were related to the Quinto boy at my school.  Call me this weekend and we could talk more.

Swanny

Post: RE MAKES LOWLY PAID TEACHER MULTIMILLIONAIRE!!!

Michael SwanPosted
  • Rental Property Investor
  • San Diego, CA
  • Posts 1,161
  • Votes 2,122

That crash won't happen in the housing market for at least a year.  It is coming.  Sure give me a call.

Swanny

Post: RE MAKES LOWLY PAID TEACHER MULTIMILLIONAIRE!!!

Michael SwanPosted
  • Rental Property Investor
  • San Diego, CA
  • Posts 1,161
  • Votes 2,122

Anyone that would like to talk to me in person, check out my profile and give me a call this weekend.  I would love to share all I have learned!!

Swanny

Post: RE MAKES LOWLY PAID TEACHER MULTIMILLIONAIRE!!!

Michael SwanPosted
  • Rental Property Investor
  • San Diego, CA
  • Posts 1,161
  • Votes 2,122

Robert stay tuned.  I will have to respond to you later tonight and also lay out my educational steps I have been traveling to this current Financial Freedom plan!!

Post: RE MAKES LOWLY PAID TEACHER MULTIMILLIONAIRE!!!

Michael SwanPosted
  • Rental Property Investor
  • San Diego, CA
  • Posts 1,161
  • Votes 2,122

Erik,

You bet I will be back investing in San Diego when this all starts crashing down. I am selling a Condo, I purchased for $120,000 three years ago for $270,000 right now VA and the buyer has about $2500.00 to his name and he is putting nothing down. It is amazing that he can get a loan and I wonder if he his one problem away from not being able to make that high monthly mortgage along with the water bill and HOA fees. I can't fathom that. It all will come falling down. Will it be this summer or next? It is just a question of when!! For every great market that is priced way too high, there are emerging cash flowing areas that have yet to emerge.

Can you feel it?

Swanny

Post: RE MAKES LOWLY PAID TEACHER MULTIMILLIONAIRE!!!

Michael SwanPosted
  • Rental Property Investor
  • San Diego, CA
  • Posts 1,161
  • Votes 2,122

Hi Michael,

I know my goals are set extremely high, but with the right leveraged debt on $50,000,000 in total Real Estate, I am shooting for $1,000,000.00 in passive cash flow.  If I have to pay a little taxes then, so be it.  What a problem to have.  The most I have cleared after taxes, teaching 60 hrs a week is about $45,000 take home, after taxes.  What a no brainer.  Combined, before taxes for both my wife and myself working a w2 job is about $80,000.00.  As you know that is only about $60,000 after taxes if I am lucky.  At $10,000.00 tax deferred cash flow right now, split between two families that have invested, I am at the same take home as our W2 earned income that I have worked for over 25 years, with over 8 years of education and a masters.

Again, No brainer.

Luck is opportunity meeting preparation!!  I have prepared and educated myself and built up connections in Northeast Ohio.  It doesn't happen overnight.  Although, after one year I have 8 Single family and 3 going on 4 apartment complexes in North East Ohio. next I will reply with all the education I received and you could follow a similar path if you wish.  If a lowly paid, overeducated teacher can do this, anyone can!!

Swanny

Post: RE MAKES LOWLY PAID TEACHER MULTIMILLIONAIRE!!!

Michael SwanPosted
  • Rental Property Investor
  • San Diego, CA
  • Posts 1,161
  • Votes 2,122

Bianca I cashed all those tax deferred instruments in.  I am all in on my new financial freedom plan and it feels great to be in control.  I don't want anyone else planning to fail anymore with my financial future!!

Swanny

Post: RE MAKES LOWLY PAID TEACHER MULTIMILLIONAIRE!!!

Michael SwanPosted
  • Rental Property Investor
  • San Diego, CA
  • Posts 1,161
  • Votes 2,122

Erik you need a better tax guy!! I have loans on all these properties and write off everything allowed. HOA fees, interest on loans, depreciation, mileage, appliances, repairs etc... If you have no debt and don't carry leverage, you are susceptible to paying significant taxes. I will never pay off another property in my life and always 1031 exchange up or refinance to keep at least 70% debt. That is good debt. Don't listen to Dave Ramsey on leveraged debt for investment properties. He is dead wrong on that point. He is like financial planning for Kindergarten. I have learned this info and this is like getting a masters or doctorate training that I am speaking of.

Swanny