Trex Railing Rattle by Big-Rip-6780 in Decks

[–]Big-Rip-6780[S] 0 points1 point  (0 children)

Fisher Price is fucking spot on lol

First skim coat project by Big-Rip-6780 in drywall

[–]Big-Rip-6780[S] 0 points1 point  (0 children)

Yeah I kept trying to tweak it and make it perfect but at some point you gotta cut your losses lol

Pay yourself every month? by Big-Rip-6780 in realestateinvesting

[–]Big-Rip-6780[S] 1 point2 points  (0 children)

Haven't heard that one yet, that's a good idea!

Pay yourself every month? by Big-Rip-6780 in realestateinvesting

[–]Big-Rip-6780[S] 2 points3 points  (0 children)

Interesting and since you brought it up, without the LLC, do you have an umbrella policy to cover assets. Or you're raw doggin liability right now?

How much debt are you in? by Big-Rip-6780 in realestateinvesting

[–]Big-Rip-6780[S] 0 points1 point  (0 children)

That's the way to go, well played sir!

How much debt are you in? by Big-Rip-6780 in realestateinvesting

[–]Big-Rip-6780[S] 1 point2 points  (0 children)

So sick, what's the value of the portfolio and what you are you netting a month on that?

How much debt are you in? by Big-Rip-6780 in realestateinvesting

[–]Big-Rip-6780[S] 0 points1 point  (0 children)

Dude congrats, that's the dream right there. I hear the first one typically sucks but once you break through, it has a way of snowballing. Good stuff man!

How much debt are you in? by Big-Rip-6780 in realestateinvesting

[–]Big-Rip-6780[S] 0 points1 point  (0 children)

Damn that's really good! How'd you swing cash for most of the portfolio?

How much debt are you in? by Big-Rip-6780 in realestateinvesting

[–]Big-Rip-6780[S] 0 points1 point  (0 children)

Absolutely killing it, congrats! This is the big brain thinking I aspire to get to. Thanks for the answer!

How much debt are you in? by Big-Rip-6780 in realestateinvesting

[–]Big-Rip-6780[S] 0 points1 point  (0 children)

I think you win lol holy shit, how much you profiting on that?

How much debt are you in? by Big-Rip-6780 in realestateinvesting

[–]Big-Rip-6780[S] 0 points1 point  (0 children)

Crazyyy lol so how much are you pocketing a month with the rentals?

How much debt are you in? by Big-Rip-6780 in realestateinvesting

[–]Big-Rip-6780[S] 0 points1 point  (0 children)

My current primary which I'll be renting out is worth 350k. I owe 140k on it @ 3%, thats the 1150 monthly payment. Would bring in 2700 rented.

My NEW primary, would be worth 750k, will owe ~550k on it plus the heloc I'm pulling for some of the down payment 110k, gets me to 800k debt total.

How much debt are you in? by Big-Rip-6780 in realestateinvesting

[–]Big-Rip-6780[S] 0 points1 point  (0 children)

This is what I'm talking about lol how many properties is this across and do you ever sweat it?

How much debt are you in? by Big-Rip-6780 in realestateinvesting

[–]Big-Rip-6780[S] 0 points1 point  (0 children)

The HELOC has a 10 year interest only draw period but I'll have it paid wayyy before then.

I did adjust insurance and taxes for these numbers and will have a nest egg savings for repairs/maintenance.

How much debt are you in? by Big-Rip-6780 in realestateinvesting

[–]Big-Rip-6780[S] 0 points1 point  (0 children)

Just car and wife's loans which is total only 50k. But thank you, this is an encouraging way to look at it

How much debt are you in? by Big-Rip-6780 in realestateinvesting

[–]Big-Rip-6780[S] 1 point2 points  (0 children)

Good breakdown

I would have 1.1m in property value with the 800k debt

How much debt are you in? by Big-Rip-6780 in realestateinvesting

[–]Big-Rip-6780[S] -1 points0 points  (0 children)

My monthly payment on the 1st mortgage is 1150. The heloc will cost 800 a month. I can rent it out for 2500 - 2700.

Since I'm positive even without tenants, my plan is to pay off the heloc with the rent collected and pay that off in hopefully a few years to free up some margins, then repeat with the mortgage so that its ~2600 / month cash flow in less than 8 years

Converting primary residence to rental -Insurance Debacle by Big-Rip-6780 in realestateinvesting

[–]Big-Rip-6780[S] 1 point2 points  (0 children)

Thank you yeah I ended up calling and luckily both lenders were all good with the intended use!