All Forum Posts by: Terrell Brown

@Andrey Y. Definitely not a scam, but if you know what your doing real estate will always outperform a 401k. I've worked for the Government for 12 years and have a pension coming and my real estate portfolio outperforms that already. I'm still young so retirement is still 30 years away. Just think what the value would be on a piece a property you buy today, when your finally ready to retire. buying one or two cash at 40-50k a piece, in 10-20-30 values will at least triple and rental income over that amount of time should buy you a bunch more cash!!!

@Debbie Rumsey cash flow would be higher with a downpayment on bigger multi-units but you can't continue to pull the equity out. if you goal is to retire or not add debt i can't get out of quickly i would continue to buy cash.

@Debbie Rumsey The simple strategy for you would be to get helocs on one or two properties and continue to buy cash. I wouldn't suggest using the leverage as a downpayment. Money shouldn't sit idle, it's only a currency. You want to continuosly  exchange that currency for assets. Not much risk here, if your buying cash. 

@Micah McarthurI think for purchasing Tk rental in any market, you want to stay as close as possible to the 2% rule. i'm usually buying at 1.75%-1.8% . I do well in my market, so it's need to go out of state. Although i have toyed with the idea, and most of what i found was overpriced inventory. I don't think these people are scammers. They are just taxing you for doing all the work. i find most of my deals from the MLS and never from a company that specializes in TK rentals. Look for tired landlords, or landlords just looking to move on to something better. I asked the same questions before i bought my TK rentals. Especially the TK rentals i bought with section 8 tenants. LOW priced, TK, guaranteed income every month, with equity. Most sellers needed the cash to start a business and still had other rentals.

@Ryan Cameron I PAID 40K FOR EACH. ANYTHING I FIND AT LOWER PRICES NEEDS REHAB

@Matt N. @Ryan Cameron Hey, I'm in the area. Recently just purchased two at 40K. Both found off the MLS with section 8 tenants. Where are you all finding your deals?

@Susan Zoe i would suggest you target another area. You can find cheap rentals around 40k that cashflow $700-800 a month. not sure what your current living situation is but i would also consider buying a duplex or triplex that would allow you to live for free and you could rent out both units while you travel! 

@Heshie Goldfeini would consider the nice town section of north philly...i've bought homes in that area for 40k that needed no work at all, already occupied and rented to section 8 tenant. although those same properties could be had with a little due diligence at the sheriff sale or a good wholesaler for 12-15k and may only need 20k in rehab.

@Mehran K.congrats!!!! Your podcast helped a lot! hope to hear more about your journey

@Crystal Dundasbaseboard heating option wouldn't be a bad option, put a separate thermostat in each room. that way the tenant only needs the heat on in the unit they occupy at the time. also consider winterizing the windows where cold air could be leaking in. i recently did both in a duplex of mine. electric heating generally is more expensive but if the tenants use the heat source wisely it can be cheaper. i occupy one floor of my duplex and electric had been cheaper than gas for me.