All Forum Posts by: Brendan F. Nagle

Call both, worse case, one says no. You aren't out anything. 

I like owning a property. 4 ways to make money, not just one with a REIT.

Easier to pivot, more control, better education- the trials of owning real estate you can learn from. 

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This was my first purchase, I am emotionally attached. Even though It has been a rental for 10 years. A live in flip, turned into long term rental.  5bd 2ba with some updating to get it ready for someone else. 

In years past, this rental was always my first positive cashflow to get me closer to FI. Now I wonder if the Equity in this one should be redeployed somewhere else. 

@Drew Slew

Buy a portfolio in a rural area. 500k goes farther where I invest. Cash flow over 4K a month doable. And after a few years, refinance out to redeploy the equity.

This morning I removed a fridge from my househack. Removing a fridge is always a frustrating situation. Heavy, smells, and can’t seem to get through doors. It’s the drunk roommate of appliances.

But this one is special. Build date 1961. Ran until 2021. Wow! 60 years. I do not know what work was done to it before I bought the house in 2016. But it ran well through 2 tenants and a dozen Airbnb guests.

Hotpoint you made a great product. I hope to get 10 years out of the next fridge.

@Ron Angel

Sell and repurpose the equity somewhere else.

Rentals make money 4 ways, cash flow, appreciation, debt pay down, and tax benefits. You are only getting the last two.

Ron, I have been where you are. My first sfh made $100 ish cf for 4 years on a 15 yr note. I got different tenants and now the cf is over 300. You can’t afford to grow if the properties are anchors.

Good luck on your journey.

@Joseph Humphreys

House hack. Or live in flip. I did it on my first one. It will be difficult at times. Lots of hands on learning.

@Ana Kudlack

Think of the house hack as an electric bike. Don’t go for the home run. Turning a 3k mortgage into a 1200 one is a win. My current hack we saved the rent income. Now any upgrade we can save for.

Good luck on your journey.

Stop looking at the math, make it much simpler. In the 90s, there was a screen saver that the ball grew and shrank. There are time to leverage, the ball grows, and times to deleverage. Leverage is used to grow and to take advantage of the market. When the market isn't to your advantage, paying off your debt increases your equity. If the goal is financial freedom, then a paid off Cash flowing rental helps where as a rental with a loan adds to both revenue and expenses.

@Kurt Pauley for a realtor.

I currently house hack in St. Paul. If you have questions, feel free to reach out.