All Forum Posts by: Chris Bork

Nate Shields Do you have a date yet for this meet up?

I'll be there. Nate Shields what time?

Can't make this one unfortunately.  I hope I can catch up with every one another day!   

@Nate Shields  Ill be there.  looking forward to meeting every one!

I can relate to your enthusiasm for investing. When your excited to get started you can come up with all kinds of creative ways to get the deal done. Some more risky than others. My wife and I are in a similar situation to you and your family. What we decided was to treat our personal residence, retirement and savings accounts as sacred territory not to be used for investing. I know there is a lot of money there to be leveraged, how ever we just didn't feel comfortable extending ourselves out that far. So we will wait, evaluate potential properties and save until we have enough cash for a down payment. I started a side business to help raise the funds needed, so that will expedite the process. Just my 2 cents.

We keep experimenting with different programs. Right now we use every dollar and it works pretty good. I still like using my old excel budget the best though.

Looks like you've been hitting it hard if you have purchased all those properties in the last 16 months! If I were in your position, with the income you have, I would pay off a couple of those properties before buying more. Assuming you live a modest lifestyle with the income figures you provided, you could have some of those paid off pretty quickly. That's the point at which I would start evaluating more purchases. Awesome work!

I bet everything is financed, and they have little money left over at the end of the month. I find it to be an awkward position. On one hand I want to help people out of that type of situation, but on the other I'm thankful people want to live that type of lifestyle so I can keep tenants.

Tommy Spence Welcome! If you haven't done so already, check out the podcast. Tons of great info in all those episodes.

@Dennis Weber  @Robert Laverty  Thanks Guys.  I down loaded the Illinois compiled statutes so ill read through there to see if I can figure it out.  How can I find out what the properties are being bid down to?