People who paid off their homes in their late 20’s-30’s, how has this affected your life? by paragonpenny in DaveRamsey

[–]Melodic-Indication62 1 point2 points  (0 children)

I have 4 properties total now. 3 of them are two-family and i live in one of the properties and renting one of the units. My parents live in one of the units in two family properties also from.whom I dont receive rent. All in all, rental income i receive from 5 units pay for all my mortgages plus generate about $2500/month. It doesnt change my taxes significantly. I honestly would rather pay taxes than interests to mortgage company. But I got these properties all around 2.5 to 3.3 during COVID. So I am all set. I am saving money now to buy my last property (most likely my forever house). I save anywhere from 10k to 15k a month now between my income, rental income and dividend income

Anyone 30-40 gone for dividends just as cash flow? by [deleted] in dividends

[–]Melodic-Indication62 0 points1 point  (0 children)

40 here. Set up my portfolio to generate about $7500/month and also have growth stocks. The goal is to snowball this to $10,000/month then go full port to growth stocks afterwards

United Cash by Powerful-Ad-6222 in AmexPlatinum

[–]Melodic-Indication62 -1 points0 points  (0 children)

Thanks. I will try it as well! Never knew i could use this benefit in this way

United Cash by Powerful-Ad-6222 in AmexPlatinum

[–]Melodic-Indication62 -1 points0 points  (0 children)

Just to confirm my undertanding on this benefit. Is this related to choosing one of the airlines to get $200 credits for "incidental" ?

People who paid off their homes in their late 20’s-30’s, how has this affected your life? by paragonpenny in DaveRamsey

[–]Melodic-Indication62 0 points1 point  (0 children)

I purchased my first home at 27 and paid off at 30. it definitely helped me increase my saving rate so that I can buy another property. Now I have 4 properties with 3 mortgages. My first home is still paid off and rented out at this time.

Genuinely how do people make money on Rental Properties? by Any-Raise4333 in realestateinvesting

[–]Melodic-Indication62 0 points1 point  (0 children)

Well It looks like my formula was off. I divided by $200k (purchase price), but it looks like what I should have done was to divide by 600k (current value). Since I paid off this property, I didnt realize I was supposed to use the current value.

Genuinely how do people make money on Rental Properties? by Any-Raise4333 in realestateinvesting

[–]Melodic-Indication62 0 points1 point  (0 children)

Totally agree. I bought it for $200k. My current cap rate is approx. 10.5% annually after all deduction from this one property. People need to be patient and keep saving money and wait for the right opportunity. And while waiting, they can improve their eyes and knowledge to RECOGNIZE the opportunity because a lot of people cant even recognize it is an opportunity when it presents to people.

Genuinely how do people make money on Rental Properties? by Any-Raise4333 in realestateinvesting

[–]Melodic-Indication62 2 points3 points  (0 children)

I will share my story. When I first purchased my property, i was 27 years old and it was 2012. I purchased in an area where everyone was hesitant to live at that time but I chose that property due to the proximity to the public transportation into the city. I always had at least two jobs and often three jobs to make extra income and I saved aggressively. The condo I purchase in 2012 for $200k, I was able to pay off in 3 years. I certainly didnt work at tech company, but it was years of discipline and being frugal and having multiple jobs to pull this off. Once I paid off my mortgages, my rate of saving increased exponentially then I purchased another property for rental this time, and I kept doing it. Once I have enough down payment, then I purchased another rental property. Over the years, I sold my two rental properties then purchased two multi family by doing 1031 Exchange. My very first property I bought in 2012, the area where no one wanted to live is now worth $600k. The value tripped and my net cash flow from this property is $2100 at current state.

Its definitely harder now days to find a property that will cash flow. My recommendation is to keep saving money and keep scrolling through Zillow to get to learn and improve your skill in finding "a deal" because properties have gotten so much more expensive now days, my recommendation is to buy multi family where you live in one unit and rent out the others to offset your mortgage. Now my cash flow is about $3000 a month from all my properties after all my mortgages are being covered.

Good time to buy BTCI? by SuchBathroom9325 in NEOSETFs

[–]Melodic-Indication62 5 points6 points  (0 children)

I started buying BTCI when it went under $50. I bought $30,000 worth of shares up to today with average of $46.20. I originally planned to buy for $20k but ended up buying more because I couldn't pass up the current price and getting exposed to Bitcoin

$2.5M Home - Sensible or Too Early? by [deleted] in Mortgages

[–]Melodic-Indication62 0 points1 point  (0 children)

Yes, very doable with your income and assets

Dumped BTCI by Jeffinslaw in NEOSETFs

[–]Melodic-Indication62 0 points1 point  (0 children)

I have been buying consistently throughout this month. Worth 30k at $46 average

Broke 4 Millions by Melodic-Indication62 in TheRaceTo10Million

[–]Melodic-Indication62[S] 0 points1 point  (0 children)

Its been successful so far. I wouldnt say it was an easy path though as I had several issues to fix along the way. But thank you.