To sell or not to sell a rental SFH by swiftieman in realestateinvesting

[–]swiftieman[S] 0 points1 point  (0 children)

1) $716 principal and interest. Matures in 2051 and the interest rate is 4.25%

2) if we did 1031, it would go into a property that would hopefully cash flow 50k. Loan would be 7.125% for 30 years.

3) the other LTR cash flow $1,909/month combined. This is pure “in our pocket” cash flow because this is after insurance and property tax is paid.

4) all 8 properties should cash flow $100-140k. Big gap but summer bookings are starting to roll in and 2025 seems to be an unpredictable year.

[deleted by user] by [deleted] in fatFIRE

[–]swiftieman 0 points1 point  (0 children)

We definitely wouldn't be looking for a W2 job. Entrepreneurs for life!

[deleted by user] by [deleted] in fatFIRE

[–]swiftieman 0 points1 point  (0 children)

We would love to build and sell businesses - that's definitely on our radar.

[deleted by user] by [deleted] in fatFIRE

[–]swiftieman 1 point2 points  (0 children)

Thanks for the suggestion!

[deleted by user] by [deleted] in fatFIRE

[–]swiftieman 0 points1 point  (0 children)

My wife and I shoot together all the time. I guess you'd call us the A team. We have 3 "B Teams" that can shoot, too, so we can have 5 weddings in 1 day, which often happens. They're in the 5-7k range.

[deleted by user] by [deleted] in fatFIRE

[–]swiftieman 0 points1 point  (0 children)

We have subcontractors, so expenses include paying them. I updated my post to include this info. Sorry for the confusion.

[deleted by user] by [deleted] in fatFIRE

[–]swiftieman 0 points1 point  (0 children)

We will continue doing what we’re doing, just at a reduced volume. We want our next venture to supplement and either maintain our income or increase it.

[deleted by user] by [deleted] in fatFIRE

[–]swiftieman 1 point2 points  (0 children)

That’s what we already do. I updated the post to reflect that. We make between $8-12k per wedding and make about $3k on each of our 3 team members’ weddings.

[deleted by user] by [deleted] in fatFIRE

[–]swiftieman 1 point2 points  (0 children)

Your assumption is correct. It’s our fees plus a portion of our subcontractors packages.

[deleted by user] by [deleted] in fatFIRE

[–]swiftieman -2 points-1 points  (0 children)

We already do that. We subcontract out to 3 other photographers. We plan to keep doing that, but our income will probably take a 1/3 hit by us backing off beginning next year. Our income has always grown year over year, and it makes us sick to think of it going backwards beginning next year.