All Forum Posts by: Abdul Siddiqui

Hi everyone, I have invested in an SFH construction project with some friends. My investment was $25k and project completion was May 2021. I paid them in Dec 2020. Due to the recent housing crises, the project saw delays and costs go up. No updates were given on why procurement was not done earlier as they had all the funds in hand.

From May it got pushed to July and then September. I pumped in an additional $5k (not mentioned initially) and the project is on track to be 80% complete by the end of Sep 2021. We have an LLC for the project. My concern is I am getting worried about the additional delays and the house might be done in the winter season. What are my options for due course?

1. Asking for additional reimbursement for the delay (as my money was tied up) and could have been invested elsewhere since May (opportunity cost). 

2. Pursue legal action (friendship could go sour).

3. Just stay mum.

Any feedback would be appreciated.

I was able to convince my current tenant to renew rather than move out. Reduced rent from $1950 to $1875 as an incentive for them to renew.

Greetings everyone!

I am an investor who has grown a small portfolio and am stuck on what options to consider to grow.

I live in Houston.

I have 3 homes currently:

1. Personal Residence ($210k balance at 3% for 15 year) Appraisal Value $400k

2. Rental One ($100k balance at 3% for 15 years) AV $210k

3. Rental Two ($145k balance at 4.5% for 30 years) AV $200k

As you can see I have aggressively paid down my personal home over the 4 years.

I don't know how to add a 3rd rental as most lenders tell me that my debt to income is high.

I have enough saving that I can pay off extra $24k every year but trying to figure should I pay off the lowest balance 1st and then finance a 3rd property after 4 years. Or save the $100k and buy a smaller home in cash.

Basically am stuck on how to grow my portfolio? Any guidance would be appreciated.

@Michael Karl, thank you for your response. I am trying to have paid off homes (preferably 5) that will help me supplement additional income when I am close to 50 (stretch goal). I am 35 now. Since these homes that I own are fairly new, I plan to hold them for a long period (10+ years). 

I have approached my lender for a LOC but they said that based on my debt to income ratio I would not qualify for additional loans.

Hello everyone!

I wanted to introduce myself. I am a married working professional with 2 wonderful kids who wants to have a steady side income and build an investment portfolio that will help me and my kids in the future. I love to build and collect Legos also and have been shedding of some my collectible sets that have appreciated (surprisingly) and allocating them (funds) into real estate.

Hello everyone! I would consider myself an investor in his infancy. I am from Sugarland TX. 

Currently I have 2 properties (one in Magnolia TX and other in Katy TX).

1st Property ($191k purchase price built 2013)  is Netting $400 a month after all expenses (This was our 1st personal home then leased out)

2nd Property ($192k purchase price built 2010) is Netting $350 a month after all expenses .

I had put 20% down payment for both homes to avoid PMI.

The house we currently live in (2014 built) also was purchased for $350k with 20% down.

I have made additional payments on my current personal house and now my equity in it is about $160k. 

I am confused as it to where to go from here.

Do I take a HELOC and get 4th home..5th home ? Or just ride as it is.