All Forum Posts by: Magesh R.

@Clayton Plank do you mind sending me the contact you worked with in Ameris. I've been looking at Ameris for a while and I just recently learned that they can do electronic closings through certain closing offices here. That's a game changer for me since I work with a lot of out-of-state buyers and sending a mobile notary and waiting for the originals docs can be a pain.

This is a large miss conception. You are not hurt for smart shopping, just make sure you aren't home shopping, and car shopping, and credit card shopping all at the same time. You also want to keep these in smaller windows. 

I work with a program that is a 30 year fixed with no season program that you may be interested in. 

My retirement story isn't anything special but I will share anyway.  I left my W-2 job back on Dec 31, 2019 at 49 after working 27 years on Wall St in various technology jobs in NY and NJ.  I have always been a saver and every year I would save about 50% of my taxable income.  I started investing in RE back in 2014 because I wanted to have a steady CF after I do the early retirement thing and I felt that RE buy and hold was the best route for that goal.  As my W-2 income was relatively high I managed to accumulate a portfoilo of properties without using any leverage and now I live off that rental income.  I own my primary residence without a mortgage so my monthly expenses is only 50% of my monthly rental income (ie lots of wiggle room) and I have a 3+ year emergency reserve so I don't feel much stress at the moment.  

So nothing fancy or super exciting about it, just steady accumulation of capital then rental properties and carefuly bugdet planning over the years, like a lot of folks on BP and the FIRE crowd are doing.  Then one day you realze that your goal has been completed and you can walk away and then start enjoying life more, to spend time doing things you wanted to do and never had enough time to do.  One of my college friends died of a sudden heart attack last year in his late 40's, also after 20+ years of working on Wall St (lots of pressure) and it reinforced my decision to walk away as soon as financially feasible and still have my health.

Perhaps someone on BP have a story more exciting like buying bitcoin at $1 or win a sizable lottery?  :-) 

I'm interested in seeing how this all turns out. I filled out the SBA loan form but am very skeptical due to the sheer numbers of people involved.

Recently closed on residential with rate of 3.5%. I know investment properties run higher rates but is 5.75% a bit too high or that’s typical? This will be my first purchase of actual investment property.

Thanks!