All Forum Posts by: Jason Schmidt

typerider, you had me at ultimate fighting :)

I am reading one book now, and am in the midst of researching through this site here. I am by no means knowledgable about anything just yet. I just don't think I understand how exactly renting can truly explode for me.

For instance, if I buy 10 homes at 100k, that only bring 1k each a month - that just covers the houses. While I am left with building equity in all 10 of them, I am also left with 10 possible a/c's going out, 10 roofs, etc.

i was wondering - if i have 3 rental properties that bring in say, $1000 a month each - $500 of which for each house (or $1500 total) a month goes to principal, does that mean that my tax break would be $1500 x 12 for the first year? is that why renting is so powerful?

I am VERY green when it comes to real estate investing. I am a homeowner (have been for 3 years now) of a house that I paid 122k for. I have the mortgage down to $107k, and plan on paying as much as possible on it to get it down to $0 in a year and a half or so.

I have about $30,000 cash right now in savings, and am wondering if I should go right now and begin buying another property to rent out, or if I should wait until I pay off my existing house in a year and a half. What are your thoughts?

Can't wait to hear!!!

ok, thanks for the kind words! I was wondering if I bought, say, 3 rental properties at $100k each putting very little down ... is there any benefit to me besides having the renters paying my 3 extra mortgages?

I have come from the school of thinking that flipping property is 100x better than renting out (thanks to television) - but is this true? it seems to me as though there are no real immediate benefits of buying property just to rent out. Though, I could be wrong. Could someone please shed some light on this for me?

I am VERY green when it comes to real estate investing. I am a homeowner (have been for 3 years now) of a house that I paid 122k for. I have the mortgage down to $107k, and plan on paying as much as possible on it to get it down to $0 in a year and a half or so.

I have about $30,000 cash right now in savings, and am wondering if I should go right now and begin buying another property to rent out, or if I should wait until I pay off my existing house in a year and a half. What are your thoughts?

Can't wait to hear!!!

whoa - $9k in advertsing? Advertising what? I don't understand :)

I don't want to go into REI with a thought that I will plug into a windfall of money off the bat - i know there are several failure stories. Please help educate me in what not to do! :)

thanks!

Hi All! A background of myself - I have 50k in the bank (varies from month to month of course!) After taxes and such, I would say I net around 80k a year. I am putting 2k a month extra on our house to pay it off in 4 years.

Now, down to business:

I own my own company, and have always wondered what happens if the industry just goes sour or something. I know a lot of people do well in real estate investing. What do you all recommend starting out with? Why should I? I will continue resarching, but would love to hear what you all have to say!

Oh, no I wouldn't plan on retiring on 40k - I'm just saying if we spent that, then we would have $0 to live on is all :) I am going to the book store today and find some books on REI. Thanks so much for your input - this has been a great help!!!