All Forum Posts by: Terry Hershberger

@Larry Turowski , If you need the quick cash, flip but that is not going to get you to financial freedom is my point. Flipping is a job, not really investing. Don't forget the time he will put intro it doing the flip, unless he is doing it hands free. There really is no wrong answer to his question depending on his goals and where he is financially. I know many investors that buy three, flip one and keep two or flip two and keep one. I do know that in the game of monopoly, he who has the most houses or hotels will end up wining the GAME. It is the sam win the game of LIFE. LOL. Also if @Brandon Eleazer lives off the $10K, then he is starting over each time. Might as well go get a job if that's the case. 

Happy Investing! or Flipping! Whichever you decide to do!

@Andy M. Congrats! Way to hit a grand slam!

Happy Investing!

@Branden Davis Leverage is a major key to use in real estate investing for the long term. Instead of one property for $50K cash, why not buy 5 - 50K properties with 20% down? Now you control $250K in properties.That's what nice about real estate. You don't have to put in 100% into the deal like you do with the stock market. You can grow your wealth much faster using leverage.

Hope this helps your thoughts.

Happy investing!

@Peter Grosso It gets harder as you accumulate properties. The banks go off of your income to debt ratio and generally won't give you credit for he income until it starts to appear on your tax return. Make sure you keep your credit score high as that will help drastically.

Hope this helps ya!

Happy Investing!

@Brandon Eleazer , A very wise Millionaire RE Investor once told me, once you have the property and it is making you good cash flow, never sell it! Why would you?

Happy Investing!

@Dustin Morgan Really there is no need for an LLC. Hold property in your name and get loan in your name. get an Umbrella Insurance Policy.

Happy Investing!

@Brandon Eleazer , buy and hold is KING. It creates an income forever, builds your wealth and gives you great tax advantages. Buy enough of them and you no longer have to work a job! Or you can flip and pay high taxes and you have just created yourself a job. 

Hope this helps you decide. Choose wisely!

Happing Investing!

@Chance Cooper , started out having them mail a check for first 10, then decided to set up new ones to go to bank and deposit directly into one of our bank acts. I like it better now that we have them just make a deposit on or before the first. No more excuses, the check is in the mail. it's either deposited on the first or it's not. Rents get collected faster that way.

Happy investing!

It wouldn't bother me, sounds like he was using it to pitch his "better deal" for you.

Happy Investing!

@Larry Turowski , LOL, thanks for the kind words Larry!

Happy Investing!