All Forum Posts by: Bob Razler

One of the home builders I used to work for had the following on the wall:

"You can buy more land in an afternoon than you can sell in a lifetime."

The point being you win when you buy it right.  Buying it wrong can kill more than the deal.

Hello @Joe Wood !  Where on Florida's east coast are you looking?

Hello All:

Thak you @Steve Babiak .  

Thank you for your comments. Yes, my plan is to always go FHA if possible. More cash left for more deals/expenses. My issue here was only the idea that the unit to be occupied can rent for $2k per month and I only pay $1500 per month where I am. So from a mathematical perspective at somepoint, it pays NOT to occupy.

Bob

Thanks @Mike G. .  I also think patience is key as well.  I try not to ask for too much too soon.

After listening to one of the recent podcasts I also want to pursue a line of credit with them once I get established.

Let me know how you make out on your end.  I would love to hear how it turns out for you!

Bob

@James Wise try one in South Florida in August.  :-)

You guys need to spend more time in PortaPotties......It lowers your threshold for bathroom shock.

Hello @Luke Miller and @Andrew B. :

Actually, my point was more pure math.....If I am paying $1400 a month in rent now, and I but a duplex where each side rents for $2000 a month, I am losing money if I occupy one unit just based on the rents.

I went on to mention the tax issued that were in addition to the numbers above.

Taxes weren't my main point so much as they were icing on the cake.

Bob

" Whether 'tis nobler in the mind to suffer

The slings and arrows of outrageous cheap living,

Or to take cashflow against a Sea of debt,

And by opposing pay it off"

Hello:

So, what seems like a simple proposition/rule (Razler's First Theorem of Hacking):

If you buy a multiunit "plex" where the apartments rent for more than your current rent, it is better to rent them all out than to house hack and live in one?  (assume all your misc expenses remain the same - cable, elec, water, swedish fish).

Also, if you live there, I believe you lose a portion of the depreciation from the building as well as the ability to expense a portion of any CapEx that spans the entire home (roof, slab, etc.) due to a % of the building being your home.

Correct?

Bob

Hello @Ricky B..  Yes.....there is a monthly Saturday afternoon coffee meeting in Delray.  @Jon Huber organizes it.  There is a monthly post about here in the forums.

It's a great meeting.  Lots of great people with plenty of knowledge and me.

Hello @Sarah Hodge .  Go to Google Voice.  You get a free number and you can have it forwarded to any numbers you like.