All Forum Posts by: Tom Unger

People tell me all the time, "You are lucky to have gotten in when you did. Prices are crazy high right now." The reality is that I bought when I bought-those people have no idea how much my properties have lost on "paper" over the recent years. WHAT they do see is the checks I cash coming in every month. Some of the stuff I've bought literally tanked-hundreds of thousands of dollars. But, who cares. I wasn't selling then nor am I now. I am now working on paying off mortgages, rents have increased significantly and the checks keep coming in every month. I dont try to time the cycles. I get in when I can get in. 

Been there-done that! We survive and are better for it. One way or another, we all pay for our education. Going forward, when you hear of someone wanting to do business with a family member, YOU have become the expert and can guide them in the right direction based on your own experiences. POWERFUL!!!

@Isreal R. I agree that investing in other states is a good idea for the right person-I'm just not that guy anymore. I have a really good friend in Wisconsin who is a wholesaler and has benn bugging me to buy there but I dont know squat about the area. Anymore, I only buy waht a really know and can understand the area market in depth. I've owned in AZ and N. Carolina. Both worked out fairly well but I dont want the "out-of-state" headaches any more.  

BTW-Love Livermore. Lived there for some time and really like it. I'm over the hill now in Bay Point and hate it here. LOL 

I only have about 95k left on a 400K property in Antioch and more than likely will end up buying here in my neck if the woods. 

But I am open to strategies and ideas from others. Let me know how you're coming along....

Welcome @ Isreal R. I too have a rental with a bunch of equity built up. I have considered pulling some money out to purchase more property but I cant get the numbers to work out for me since it would end up being a 100% financed deal using all of my own credit and money. I'm interested to see how you make this work. Go get em and if ya can, keep me posted. Thanks

@Jo-Ann Lapin- I have not yet attended any MeetUps in my area but have joined a couple. Thankx for the welcome.

@ Naveed Q.  Thanx for the welcome-nice to see another fellow East Bay Investor. I myself used to live in Brentwood and worked there for a number of years. Also owned in Disco and Oakley serveral years ago. Kinda wish I would have held on to them as well as the ones I used to own in Vallejo and Benicia. Live and LEARN!! LOL

@ Chris M. - I will be when I actually go out hunting for my next buy. I have another couple years to get the one I have paid off, about 95k left on the loan. Then, yes, I will be looking for, at most, a 10 fixed. We'll see what rates are doing then. Thanks for the support and the shout out! 

Welcome to BP. I too have had some successes in RE but new to BP and hope to be in your situation in a few years. Wishing you tons of future success. 

Hey Calvin, How'd the search for an investment property go? I just got signed up with Bigger Pockets and saw you post from 8 months ago and thought I'd see how you were doing? 

Hi gang, I am new to BiggerPockets although I signed up several months ago. Just now getting into gear. I work for the State of California, (read good stable income),  and wont retire for another 15 years, unless I can figure out how to retire earlier through RE Investing. I have owned 9 SFRs in the past but currently only own 1. The plan is to pay it off in the next 2 years and buy another, under retail, pay it off-repeat until I retire in 2030 with a total of 3 rentals paid off. I also really like to share info with others and spend  a great deal of time teaching the financial principles of Dave Ramsey at work to those who want to learn.