While I've been able to get out of my W2 after acquiring 30 properties, I've learned that you still need to generate some sort of active income unless most of your doors are completely debt free.

Debt service on this is $2308/mo which seems really high.

(2) Should we expect to settle for the full amount of the court ordered debt plus court ordered interest?

I have no debt, a good stable job making about $60k+ gross, and $20k saved up with about $10k in my 401k that I'm thinking about using some if not all of it towards the closing costs of the home I want to buy.

Financed by securing debt on a different asset in our portfolio where we could get the best terms given the rising rate environment.

Eliminate debt, establish a budget, and save.

I am in New York City , I use the car for my rideshare business , I have no problem personally guaranteeing the car, I’m just looking to get it off my personal name so I can improve my debt to income ratio on my personal side .

Verify the purchase price, potential rental income, and operating costs to determine whether it’s truly profitable.Understand Debt: Taking on $500,000+ in debt is a serious commitment.

The property cash flows at a 15% ROI…………………..before insurance, debt service, utilities, management, vacancies, repairs, maintenance, payroll and property taxes7.

There are syndication/crowdfunding funds currently being launched now which intend to take over deals from syndicators/operators (where those same owners would otherwise have to turn the keys over to the bank).Generally the ones in trouble are those that structured too aggressively (high debt, floating rate, etc).