All Forum Posts by: Ray Fisher

personally we have over 40 in that range all over arkansas, they never sit empty, right now only 1 is section 8, they cash flow, just have to pick decent renters.

Jason,  here's the old guy perspective. 

lots of good advice on here, I'm 62 closer to retirement age, I went the SDIRA route with my accounts, Buying and holding properties in the IRA , building tax deferred income and purchasing houses inside IRA about every Two years. mine are traditional Ira's , Agreed i don't get to hold the money in my hands but it fully remains dedicated to real estate and keeps me on focus. great rate of return.

As far as a Mortgage loans I now as of last month have none. So that is a option I have available right now. 

Refi, heloc, etc.  some would say I am not using it to the full potential, At my age I am thinking , Whew and Am building that cash reserves, everyone is talking about. I need direction on what to do with that liquid cash.  

My third Strategy has been to buy portfolio lending properties in an LLC , we have been doing this for years,

with the W2 income loans have been available.  This is the biggest part of the portfolio , the properties have started paying off.  This is the NO money down option, OPM!!!  And it doesn't effect my debt to income ratio's. 

As far as the Stock Market, when you wake up one morning and 50 to 60% of your life savings is gone. It wakes you up, At least with Real estate I feel like I control my destiny. market might crash but i still own the properties. and were still making people who need to rent. As long as i am not over leveraged  i should be ok.  

I have started taking a small dividend from my IRA, It covers The additional payment of a structure I built on my property. I tell everyone after taxes, I get a building pmt, and a happy meal each month . If I really go all out I supersize it. lol

I still have a W2 J.O.B. . It provides me with insurance. (when your old you need it) A nice income and money to invest in my future.  

The answer is there are so many different options available YOU control your destiny. 

Good luck to you 

start a LLC for your rentals, Porfolio Lenders, keeps it off your personal credit report, A little higher interest , 15 and 20 yr amortizations, 3 to 5 yr lock on interest rates. We have been doing it for years. I do have to sign personal guarantees, but mu DTI is unscathed. And credit score is still good.

Heres mine, draws a crowd where ever you go, extra seat for signs and can pull a small trailer. Biggest problem you better like talking to folks. 

Central AR here,  focus mostly on buy and hold , Ira Investing , and have flipped a few.  Multi strategy investing has worked for me. Always looking for a deal. 

We have three SFR in the Jacksonville area, all were purchased needing rehabs, We feel like we made our money doing the rehabs with raised market values after rehab. Cash flow has been good and rents have raised but future appreciation values would be minimal. We did one flip made good money but If we would have held it we would have made the same money in three years . and still owned the asset. But then I see more value in buy and hold long term.

Product suggestion, 

Ice & Snow Melter

• Contains magnesium, potassium, and sodium chloride
• Aqua-tinted crystals—easy-to-see when applied on ice and snow
• Works fast—melts to temperatures below zero degrees
• Won't harm surfaces when used as directed

Packaged in Neosho mo just north of you, 

Actually works at lower temps than rock salt.

Keep up your General Liability policy.

Paralysis of Analysis!

A good education always cost money, for me I only invest in areas I can easily drive to within a couple of hours. Cash flow of  $100 is to close for me. I know there are areas where this might work out with potential growth, but those little things , like plumbing issues, HVAC,  electrical seem to always creep up .  A partner has a condo make 100 a month, 1st month needed HVAC unit, $3500, dryer has went out , Small electrical issues have shown up, SO far the condo has never made a dollar.    The rents in that area are low, association fees, Insurance Hikes, Increases in property taxes.  have killed the partner. Loan has been serviced, and more equity has been built.

Turnkeys  and flippers I stay away from.  Good luck to you. 

Alex, 

Been there , Done that, three years into my Business degree, working two jobs and trying to go to school ,  Academic probation made that decision for me. Once school loans started becoming due, work was the only answer. Spent 10 years in retail management. Another 10 years in sales, And finally went back and finished my formal education. Today I run a small Business, That's my W2 income.  Along the way We started picking up a few buy and holds.  We flip A few and we hold paper on a few , we buy and hold most of them. Some people think I am successful, others think I could have done so much more. 

That's' My story,  Now the point is .  At 18 , and no real income besides entry level jobs There wasn't a bank around that would have given me a loan, Today I have learned so many ways to do those deals with out banks, and of course paying a premium percentage for doing so.   My w-2 income still gives me favor with the banks. 

House hack, Buy owner finances, Try to flip a few, all that can be done while your getting your "fall back on" education. If engineering isn't your thing , you are young try something else.  I wish I would have went to more in the finance direction. 

house flipping is crazy right now.  they are paying crazy money for some of these houses only to rehab and try to make money, or wholesaling for a small amount of profit.   

I love it were unloading a few.  hording the cash and waiting on the crash to buy them back. lol (MY OPINION.)