All Forum Posts by: Aaron Hunt

Yes, normally, 0-5% down, no PMI.

 See my post above. Also check WCI for more on this. Sure, you can buy a multi-fam up to 4 unit. Don’t need to live there life of loan.

Physician loans don't have PMI.

I’m a physician as well. Finished residency in 2018. Had bought two homes during residency with 5% down each. Kept them both and due to market appreciation they are now cash-flow rentals with $100k in equity each. Then used my sign-on bonus to buy our 3rd rental.

For my primary, I went with Fulton Bank, they gave me up to $1.5 million with 0% down, No PMI, and a 3.5% rate.

Would be awesome to have scaled up into a multi-fam, just wasn’t in the cards for us though.

DC area is known to be more resilient than other areas. This hasn’t been an area to find major wins in a long time. (Family has been here for 30 years)

We’re buying a primary now in the area. We were under contract before the COVID mess started and had a long close. Then put a COVID addendum in as well. We’re still moving forward and looking forward to it.

I  was running my numbers and I realized the same thing. I’m in a higher income tax bracket as well 32%+. Zero benefit right now with our 4 properties. 

Between the mortgage interest (front-loaded when leveraged), and the maintenance/turnover expenses, we’re coming up well short on some of the units.

Ultimately determined it’s just suspended until we decide to sell. There’s a good chance we’ll sell one or two off this year.

@Dan Heuschele

Appreciation gainz!

Far from penny stocks, haha. Complete opposite in fact.

There’s two ways to really make it - relatively earlier in one’s life, rather than 65:

1. Start a business on your own. RE counts too - but I feel like you have to be aggressive and really put yourself out there (both financially and networking). Slow and steady does win the rat race...but not till you’re like 60. Most on BP won’t make it. Just the truth of the statistics.

2. Go into a known high income field, and then invest into other’s businesses.

I chose the latter. I own RE but it’s mostly because I like collecting property. In 2019, I didn’t even bother visiting a single one of my rentals. I saw one of them on Facetime though!

Anyways, most people can now invest using Wefunder, Intoo or SeedInvest. Some RE sites out there too, I can’t recall which exactly but maybe Fundrise or RealtyMogul? I found the brewery on WeFunder.

I’m also now an accredited investor, it’s a goal I set for myself when I was in high school. I think maybe I read it in Rich Dad, Poor Dad? Took me a while, but finally reached it. With this there’s certain deals that open up with a potentially higher return - some deals are publicly visible using sites like AngelCo, EquityMultiple, PeerStreet, ArborCrowd, Origin, etc. In other words, it’s how the rich, get richer.

The bank investment was a local brick and mortar startup, that I was informed of by a relative - which was great. Deals like this one really don’t happen too often. Not everyday you get to say you own a stake in a privately owned bank and can point to it while driving by. Minimum investment was $10k (not bad actually). In hindsight, I wish I dumped a lot more into it. 

Good thing was I also convinced 3 more people to jump in with me so we can collectively celebrate the success some day, and just root for it together. It’s a lot more fun when you can enjoy the gains and wins with friends and family.

 Agreed. Mine is well over. I nearly threw up when I realized how much my wife & I paid in taxes this year from our W2 (over 6 figures)...and somehow it turns out we owe the feds and the state even more money!

Not sure if traveling in Europe means did not file taxes, but if it does file taxes in 2019 (assuming 2018 was filed). Problem solved!