All Forum Posts by: Jason Schmidt

wow, very excellent stuff!

very interesting take! I was actually thinking about that - why not pay off 5 houses as quickly as possible at 125k each, live in 1 and have the others rented? That means 4k income each month for rentals. Just a thought anyway. Anymore information you have I would love to hear it.

Please tell me how you are doing it!

I am struggling to see how this can be done with less than 20 pieces of property that have a positive cashflow of $200/mo each. That would put someone at $4,000 a month which could be livable, but 20 properties ... that would be a logistical nightmare, yeah? I am so incredibly new to all of this, I am still seeing if I should get into it or not.

I got this book for fathers day and have been really enjoying it. The problem is this - it sounds as though it will be of no help from a cashflow standpoint until the rental properties i purchase are paid off 30 years from now. Is this true?

If I buy, say, 5 houses at 100k each, what do people generally receive? All of the monthly payment and then a few extra hundred a month? No one would be able to live off of that, right? I am a tad confused ... Please help!

probably not - just be patient with me, I am new and barely have enough information to know what to ask :)

i want to jump in right now, mainly because the market here is so down. All houses are really at a low point, so it seems like now is the time to buy. I just don't have enough knowledge on it yet.

I am considering stopping paying extra money on my own home, and putting it toward real estate. I think that I will have about $50,000 in savings to mess with in the next few months if I stop paying extra toward the house.

With that said, what would you all do? Look to flip, or look to rent? I want to build wealth, but also want to have as much cash in my pockets as soon as possible too.

hmmm - i feel kind of like a fool, dropping $15k to pay off my car now, and 10-11k in the house in hopes of paying it off if I truly want to do this thing. grrr ... so torn! That could have been a $25k extra cushion in my pocket while doing this stuff.

ahh wow - that is crazy confusing now. i thought it was always best to pay it off as soon as possible. hmmmm....

very interesting! how much $ at the end of the year would a 100k property at 6% interest be back in my pocket? Is there a way to find that out?