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All Forum Posts by: William Vargas

William Vargas has started 2 posts and replied 3 times.

Post: Seeking Advice for my Rental Portfolio

William VargasPosted
  • Investor
  • San Antonio, TX
  • Posts 3
  • Votes 0

Hello all, I'm looking for input as to what the pros and cons would be for

some options I'm considering.

I currently have an 8 SFR portfolio with remaining balances ranging from $3k to $96k (see attached screenshot). I've been considering putting all of my monthly profits towards paying off my properties and getting the snowball of mortgage-free cashflow started.

I'm currently in the Air Force, 35 years old, and have about 8 years until retirement. It would be great to have them paid off by the time I retire so I can be done working for good at that point... Military retirement + mortgage-free cash flow. I'm not married to that idea as I have will have a lot of good job prospects after retirement based on my job, it's just an option I've thought about.

What pros and cons do you see with the early payoff strategy? Any advice either way? 

Thanks all!

Post: New-ish Investor Seeking Advice

William VargasPosted
  • Investor
  • San Antonio, TX
  • Posts 3
  • Votes 0

Thank you for the replies!

Steven, the private lending idea is interesting but I'm more looking for ways to expand my real estate portfolio vs just make money. Unless I'm not understanding what private lending is all about, it doesn't sound like something I'd be very interested in.

Bill, I am ready for expenditures. All of my cash flow goes into a real estate business account that doesn't get touched by me. The mortgages, any expenses, and downpayments for new properties come out of this account. Maintaining home warranties on all of the properties helps as well... AC goes out... $60 fee and it's replaced.. It has really come in handy. 

I do not rely on the cash flow for living expenses as I am active duty military so I have a very secure income for at least the next 15 years. 

It's hard to nail down a specific goal when I don't know everything that is possible. Generally, I'd like to continue to expand my portfolio and increase my monthly cashflow to infinity if it's possible and am looking for the best way to do that. 

So far I have stuck with the conventional financing (30 year) of non-commercial properties and have been able to slowly expand by buying roughly 1 property per year... I've read blogs and watched YouTube and of course have seen Grant Cardone go on and on about commercial apartment complexes being the end-all-be-all so it got me thinking that I was doing something wrong.. If not wrong, then at least not efficient or the most effective.

With that said, any additional input/dialogue is appreciated

Cheers

Post: New-ish Investor Seeking Advice

William VargasPosted
  • Investor
  • San Antonio, TX
  • Posts 3
  • Votes 0

Hi All,

Long time lurker, first time poster... I'm looking for advice from those of you who are seasoned and well versed in the real estate investment world.

My background quickly: I've been employing the buy/hold/rent real estate strategy for the last 8 years or so. I have been able to slowly grow my real estate portfolio to 8 properties. 2 quad-plexes, 1 duplex, and 5 single family homes. I have financed all of them using traditional 30-year fixed financing with 25% down. I have approximately $150k in equity spread across all of them and my average LTV is approx 60-65%. I have an additional $30k in free cash.

I have been slowly saving my cashflow and using that to make downpayments on each new purchase.. it's slow and steady, which isn't necessarily a bad thing, but I feel like I am leaving money on the table and not maximizing my potential. 

What strategies would you pros recommend I research and/or pursue? I have not done any cash out refis to finance more properties, nor have I ever sold a property. 

This is an image of my current property numbers before property management expenses (10% mnthly rent). I pay water in the quad-plexes and maintain home warranties on all of them (cost roughly $375 per year). 

Any feedback would be much appreciated. I'm looking forward to the conversation..

Cheers