All Forum Posts by: Brett Mason

@Nik Corbaxhi thank you so much Nik for your response! Would the principal be lower in the 15 year loan?

Hey guys! I’m just starting out with RE investing and I just had a few questions.

1. How are people able to become millionaires through owning rentals? I understand how cash flow works but I just can’t understand how $100-$200 through cash flow that people are becoming millionaires. Does the wealth come once you pay off the house?

2. What benefits are there for owning rental properties?

3. Is 15 years or 30 years a better option for paying back your mortgage?

4. And lastly, do you guys prefer normal bank financing or hard money lenders? What’s the benefits of both?

Thank you guys so much for all the help and any advice would be greatly appreciated!!!

@Michael Georgiadis Great advice Michael. So how would that work when I passed away. If I chose to pass the houses to the kids, and they wanted to sell would they be subject to the capital gains tax as well?

@Bill Brandt great advice! So if you were me, you would just keep the property and get the cash flow instead of selling?

@Nicole Heasley great! I’ve been hearing people say that I would be paying a ton in taxes. How does that work if I sold the properties?

Hello every one! I just wanted to see what you all thought about selling all of the rental properties that you guys own.

For example, says I had 15 or so properties and payed them all off in 30 years. They are all cash flowing a little bit, but I am ready to retire and cash in on all of the houses I own.

Would it be a bad idea to sell all of the houses and if so, what is the disadvantages and advantages of doing so?

@Thomas S. Hello Thomas! Great idea, but what would happen if I bought some single or Multifamily houses and rented them out for 30-35 years and then sold them all. Is this a bad idea?

@Sarah Brown awesome! Thank you so much for your advice!

@John Thedford haha ok great! I will definitely look more into that! Thank you so much

@Sarah Brown For me I’m trying to figure out which options people have had the most success in so I can explore those options if that makes since!!