All Forum Posts by: Ryan Parnow

If you find any deals you would like to wholesale, let me know.  I am always looking to buy more.

House to Home does some pretty nice houses on contract.  You can find them on facebook.  They also operate under Contract 2 Home.

You can't take $1000 from your checking account to pay for a deal and call that a Roth contribution. The money has to come from the Roth. 

Your max 401k and Roth contributions are not linked. 

@Michaela G. Thats a good point.  

Has anyone from the Cedar Rapids Iowa area done a 1031 exchange that could recommend people to work with to get these properties rolled up?

If I refinanced the duplex to a 30 year, it would look like this.  Is this better and worth keeping or should I move towards a 1031 on this one?

@Eric Bilderback I typed up that post and deleted it several times before I was able to actually hit submit.  It certainly made me feel rather vulnerable putting the last 10 years of work out there for everyone to see, but I have gotten a lot of good feedback just like I hoped.

@Peter Tverdov Which 3 would you keep?

@JP Gips I have definitely considered going the less houses, less debt route with the focus on cash and reduced risk.  Leverage definitely has its risks. 

@Virginia Marphis My CPA is an investor and is on BP.  I probably need to spend more time talking with him about what I am doing.  I do keep detailed records in quickbooks, I just havent really spent any time looking at the reports.  When I get a few minutes, I will post some of the numbers here.

@Namit S. My goal was and is to replace my job income.  For the second question, to be honest, my criteria has been different.  I didnt always have the goal in mind when I was buying.  A couple of the houses I bought because there was instant equity and I wasnt as careful about analyzing the cash flow as I should have been. 

@Mike Dymski Thanks! The only property I have refinanced is the duplex. The other houses I have been able to do BRRR but in a different order. The bank that I work with will lend based on 80% of the after repaired appraisal value. So most of the houses I have bought since the first couple, I not only didnt put any money down, I got money at closing for the fix up.

@BOB CRANEY The only thing I found from Jeff Brown was about note investing.  Were you referring to something else?

@Dillon Loomis In this area, it has to be about cash flow.  We just wont see the appreciation other parts of the country get because new houses are being built all the time without really increasing commute time.  

@Meghan McCallum I have been attending two different REIAs but networking has always been a weakness of mine.

@Ian Walsh what do you mean by "50% PI range"?

@Cindy Rack I have detailed historical records for each property as I keep my books in quickbooks.  I suppose I should look at the reports to get a better idea of actuals instead of just using rules of thumb for expenses.  A lot of the appreciation is the result of forced appreciation.  Buying dumpy foreclosures that might not be marketed well and fixing them up a bit.

@Michaela G. thats a good point about the 15 year mortgage.  I can always pay the 30 down quicker.  Turning that equity into cash and getting rid of those cash flow losers would definitely flip things around.  Thanks!

@Arlen Chou Blunt is good.  If I just wanted to feel good about my decisions I would just go ask my mom how I am doing ;)  I was looking into the 1031 process but have more reading to do before I feel like I would be comfortable with it.

@David Zheng A couple of the houses I bought due to the equity and then I expected to be able to rent for more than I am getting.  I guess I should have flipped them when I realized I wouldnt get the higher rent.

@Daniel Hanson I was actually doing the return on equity calculation when I realized I needed to ask some advice on what I should do as some of those returns on equity are pretty small even when counting the loan pay downs.

@Dinesh Gupta I would definitely be interested in learning more about 1031 exchanges.

@Pearce G. I had been letting that slide since it was on a 15 year mortgage and the loan was being paid down about $7500 a year.  Am I thinking about that wrong?