All Forum Posts by: Casey Lodes

I'm new and didn't realize that I cant update my original post. I am still learning the site so bear with me! 

///UPDATE///
We own the land outright.  If we sell the 8 acres, we will take all profit (minus the taxes).  With the profit, we should be able to pay off our current home debt while also having money to put toward a purchase of a rental.  Does this bit of info change anything on your views of the actions to take?

I appreciate all the info thus far!  It's been very helpful.

Hello Everyone.  I have a conundrum on my hands.  My wife and I are torn on whether to pay off our existing home or take that money and start investing.  

I live in the middle TN area.  I will be retiring in the next 4 years and don't own any rental property.  I own land behind my existing home with road frontage on another road.  We have carved out 8 acres of it for a future sell and with land being what it is here in Middle TN, we can fetch a pretty penny.  My existing mortgage on my present home is less than 200K and we are around 2.75% on our interest rate.  

I would like to enter the investing market but my wife is more conservative and would rather pay off the current mortgage.  I don't really want to sell that land just presently as I want to get a season of deer hunting in this next year, but am leery on if we will see a pullback on the land pricing.  We would hate to miss a opportunity to strike at high pricing.

I'm hoping to get some pro's/con's on paying off vs jumping in from some of you fine folks that have done either/or.  I appreciate your help!

 Thanks everyone for your comments thus far.  Super excited to spend some time in here and learn!

Good Afternoon!  I am so very glad to be a new member of this great community and look very forward to learning about investing from the lovely folks that are members here.  My wife and I are looking to jump into the rental market and are looking to learn from you fine folks.  My Parents owned a duplex in West TN and I saw how profitable it was for them over the years.  My Father owned a construction company and I grew up swinging a hammer with him.  I am somewhat handy, but am not on the level of knowledge as a general contractor.  That being said - a Flip/Facelift is not super scary for me.  

We temporarily owned a rental property after my wife and I met and got married.  We were so new at that time and didn't know what we didn't know. 

GOALS:

1.) Meet up and form a relationship with similar like-minded individuals.
2.) Begin the acquisition of a few rental properties over the next few years.
3.) Purchase a beach condo in the Orange Beach area to utilize when we take family vacations.

I'm currently in the military and am on a "vacation" for a little bit.  I'm trying to educate myself so we are prepared to start pulling triggers when I return.  

I look forward to meeting new folks here.  

Good Afternoon Everyone!  This is my very first post within the forums and am hoping to get some updated recent knowledge regarding beach properties.  I know they can be scary, but am excited to hear what good news/horror stories/tips/advice you all might have to offer.

My family and I normally vacation in Orange Beach AL.  I have gone to Gulf Shores from a very early age and we slowly transitioned to the OB area.  We typically vacation in late September to take advantage of better rates/nice weather/minimal wait to eat.  As we sat on the beach and watched my children play, my wife and I discussed that maybe its time to look into a property at the beach.  We can stay away during the peak times, and take advantage of those rental rates during those times

I have heard horror stories about HOA's and insurance/natural disasters. I am wondering if anyone has any advice for someone looking to take the plunge. Bonus points for any local Gulf Shores/OB owners and recommendations for property maintainers.