All Forum Posts by: Anna Catron

@Andrew Postell

Wow!  Y'all are great!  

single family residence investment, yes, in FW, Texas

We had it appraised last year at 167k. We owe about 94k. 
The numbers I'm getting are an approximate 31k.  Fees last year when we went through the process were approx 3k. Does that sound right??  Thanks so much!

@Account Closed it's a book by Dennis Kimbro. 

@Johann Jells, explain what you mean when you say I can't capitalize and amortize sweat. I'm really not following what you are saying. Contractors being expensed instead of capitalized/amortized. 

As far as I can tell, the answer is OVERTIME.  To get ahead, we're going to have to work overtime and give up sleep, time with family, alcohol etc.  But it is worth it.  I fill my head with stories about people who put in the time and made it big.  I just listened to THE WEALTH CHOICE. Made me feel like a spoiled brat and helped me get up earlier in the AM to get s%&$ done!  Essentially, all the podcasts tell us to be Buddhist.  "Life is suffering, it has a purpose, learn to deal with it, it will be worth it".

Sometimes I feel a bit slow.  I've been reading and listening intently x 2 years.  We tried to refi last year but the appraisal came in waaaay lower than expected.  We would have paid about 4k for a 14k cash out refi.  Will a portfolio lender allow a larger percentage of the equity to be pulled out in a cash out refi?  Not sure why this didn't occur to me sooner.  

Thanks so much for your thoughts!!

And I'd put some lantanas in the rock.  They are super colorful and hard to kill! 

@Whitney Hutten and @Trista Fenner  Maybe seeing numbers on paper might convince him to hire out subs!  He is hiring out electrical and siding, so that is a big step!  In 2 full rehabs, he's only ever subbed out a window! 

He's not probably ever going to do an SOW on his own, that falls in my "lane", but working on it with him, he may see some light!  

Since y'all are being so helpful, can you tell me about small banks and refis?  Will they allow a larger percentage of equity to be cashed out? 

@Will Fraser Very inspiring!!  It's going to irritate my spouse no end, but of course, you're right!  

And, no, we won't be done with RE after this one BRRRR. This will be BRRRR #3, of a lifetime of BRRRR! I love real estate! My j-o-b pays really well, so I'll sit tight, but I love real estate! I'm in the medical field, so I just picture all of my neurons forming into the shape of duplexes and dollar signs!

Thanks so much for your input!  I knew that was the answer, but again, we'd all like a magic pill!

@Johann Jells, I guess I didn't specify, this will be a BRRRR, so no capital gains. Interesting that you'd pay tax on your sweat, kindof stupid IMO. Thanks for the input!

@Johann Jells, I guess I didn't specify, this will be a BRRRR, so no capital gains. Interesting that you'd pay tax on your sweat, kindof stupid IMO. Thanks for the input!