All Forum Posts by: Derrick W.

I have a loc and use it a lot. My savings/reserves never get touched and are slowly growing.  I use my loc for the down payments on new houses then pay it off with my cash flow.  As soon as it's paid off I buy another house. I'm very happy with how this is working. 

*download to my I phone. 

I'm having issues! How do I download the free bp e book?

well done!!!! My goals are VERY similar to yours and I'm close to being 7 years ahead of schedule. 

Have you thought about heading a different direction? (Of course what your doing in obviously working great.) I have thought hard about a small apartment, trailer park, rv park, laundromat......can you see yourself stepping out of your comfort zone to increase cash flow?

Just curious to see what a person in a similar situation would say.   

as far as my experience goes....

Multi family  equals a much greater cash flow than a single family but a single family  equals a much greater source of equity when it comes time to sell or refinance. 

I'm no prepper but if I come across a hollowed out volcano that  a helicopter can fly out of I will jump on it.  I cant fly a chopper but that would make on cool lair....

my wife found the curtins. I think they came from lowes.  It had a "pocket" sewn into the top of it that a curtin rod would slide through.  I used the same wooden rod that is used to  hange clothes from. The rod is around 1 1/4" thick and I used the factory made attachments that are built for this rod. 4 tenants later they are still doing well. 

I used a really good looking set of curtains to replace the closet folding doors. 

my rei journey started august 24th 2015. I set a goal of 10 rental units in 10 years. That's a house a year, not too bad a goal.  Things moved a little faster than expected though. If I'm able to purchase another house at the end of this year it puts me 7 1/2 YEARS ahead of schedual. 

I have grown up in construction and had no problems buying, remodeling and maintenance.  The biggest thing I learned was that I should have educated myself on being a landlord BEFORE I was a landlord.  Contracts, screening and interacting with tenants was a rough uphill battle that I was totally unprepared for.  That was a hard lesson I won't repeat when the time comes to diversify. 

I would do 20% down. 

Yes a larger down payment should mean a  higher cash flow but by doing so you are spending money to make money that you have to save back up.  If you can do 40% on one house then you can do 20% on two houses.