People get wiped out sometimes when over-extending. 

With those increases (a total increase of 14%) that wipes away $343 of your projected cashflow and puts you into negative cashflow post-refinance.

As you can see from that thread, boom, 100% of that source of business is gone and wiped out, unless you as the loan originator want to lie and give horrible advice to homeowners.

That could wipe out any profits.

Before wiping spray with rubbing alcohol.

And my wife for the support.The best part of it all is we just found out we’re having a baby girl early next year and we added $100 automated principal payment each month to our 30yr fixed mortgage so that it amortizes when she turns 18 as @brandonturner suggests.I’m so grateful for bIggerpockets and the community it’s formed to inspire and support me through this journey.Next year I hope to do my first BRRR!

My post is a post mortem on my first deal, a condo in the DFW area, and is intended for baby RE investors, like I was.

They become babies and they revert back to the TESTING PHASE.

This would essentially wipe out my savings.

It takes a huge portion of your time in the business and wipes it away.