All Forum Posts by: Richard Hadley

@Sam Wocelka honestly, at the end of the day, it all boils down to math. If you do you homework where it matters, running the numbers, on your purchases and "know" what your return will be. If you can stay in the double digits % return I would say your doing well. You can't put a 100,000. Into an IRA or 401 and get a 20% return but you can in real estate, if you're diligent.

@Justin Holwell Personally, if it were me and it being your first investment property, I would encourage you to stay local, at least until you have some experience with being a landlord. And all that it entails. The Brrrr method is a great method and I have acquired several properties using it. Certain things to take into consideration are to make sure between your purchases price and what the remodel will cost does not go over the 80% the bank will finance in equity. I have found in my area that right now is hard to find property's cheap enough to make the numbers work. My last 3 property's have an average of 28% roi

@Dan Bryskin thank you for your feedback, I will definitely look into what irr and mirror is,

I am very new at investing in real estate, however I have been working with it as a contractor for nearly 30 years. Wish I started this 30 yrs ago, rather than contracting. And now that you put it the way you did, It makes sense to do it that way.

Thank you

@Joe Villeneuve very good feedback, and pretty much the answer to what I was asking,

I dont really use any of my own money to purchase my property's, what I was really after is is it better to get your cash flow up front ,right from the start? Or pay the higher mortgage, and get it in the end.

My reason for this question is, I am 51 yrs old, I just started investing last year and have acquired 3 properties in my first year. So far my roi is averaging 28% and I have 7 year mortgage on all 3. I have been using my heloc to make the purchase, then rehabilitating the property, and then renting, once they are rented, I have been taking them out of the heloc and getting a mortgage to free up my heloc to do it again. So far it has worked well.

What I want to do is to be able to buy more properties but also trying to increase my cashflow. Really just want to learn as much as possible, and work a system that is more effective and efficient than what I am currently doing. Thank you for your feedback.

Regards

I'm just curious what other investors prefer and why. Some of my local gurus are recommending that long term loans (mortgages) are better because they get more of the profits right at the start rather than waiting for the property to pay for itself to get a better return. Then there are others myself included that are paying my property's off in 5 years. Getting a better return after. My property's have an roi average of 20%

Just want to hear your thoughts.

Ok so I am curious from you all, if the circumstances were somewhat different, and he was able to find that Sam class property 20min from where he lived, what kind of advice would you give then?