We all think the way we invest is how everyone else should, but your goals and needs are different than anyone else's so decide what works for you.I'd also suggest going out to some meetups and reias so toy can meet some local investors to find out what's working in your local area (which is pretty close to mine)

Hi @Shannon Toye,Answers;1.)  

Stop contributing more than what your company will match in the 401K, get rid of those car payments, student loans, toys bought on time etc... 

So for people who are in this higher income situation it would be better for them to take LPMI (lender paid MI) which is in essence a bit of a higher rate in order to not pay monthly MI because this particular person could write off the extra interest and typically pay less than what monthly MI would "have," been in lieu of the LPMI option.For smart investors who buy undermarket value and fix up, it may be best to ..... Yes

I suspect in Omaha you can do very nicely on say 20k a month... and spend say 5% of your income on a toy.. still leaves you 19k a month to live on.. great house in your market probably all in is not more than 3 to 4k a month leaving you 15k for food and cloths.. so you can buy the car  :)

I toyed with this idea when I purchased a vacant 10k sq ft office building.  

People often make the mistake of applying for "toy cards" ( department store, gas cards) or even worse, subprime cards.

It was also an excuse to buy toys at Home Depot.Anyway the house has been available for rent for about a month now.

Haha as I was looking at the POS report for a house I just put in escrow I realized my primary residence had most of the same issues (weeds, crack in the driveway, clean up all the toys in the backyard, etc). 

Instead of looking for multifamily specifically I am toying with the idea of purchasing a single family and then converting it to multifamily.