All Forum Posts by: Chris John

I'm not necessarily trying to back Kiyosaki and his predictions (I have no idea what they are and haven't watched the video.  I'll take everyone's word), but I will say that my own personal opinion is that we keep borrowing our way out of downturns.  It's pretty difficult to have a market dump when you keep injecting it with trillions of dollars.  However, at some point, I'd think that would lead to inflation.  I think it's miraculous how many trillions our economy has absorbed without inflation since 2008.  At some point, that's gotta end, no?  Maybe not as I've been wrong so far...

Regardless, I'm still buying just in case inflation hits, cuz I don't see rents dropping at that point...

@Tracey Dixon

I'm a little confused.  It looks like you're saying the loan is for an owner occupied property, but you plan on renting it? 

Anyway, in my opinion, the number of loans you have isn't important as the payment of the loans.  I'd be more concerned about what I expect to collect in rent vs. the payments than I would be concerned about the number of loans.  Plus, hopefully by putting no money down, you'll have some liquidity to cover you in tough months.

Long story short though, I'd sort if you can even use the loans in the manner that you appear to intend.  Also, I'd run my numbers to see if I felt like it was a good investment and I'd be able to weather some storms.

Good luck!

@Justin Thorpe

I do think about this being the youngest I'll ever be on occasion, but it just makes me feel bad, not better!  haha.

I definitely hear you.  I did like "Rich Dad, Poor Dad", "On the Road with Robert Kiyosaki", and the "Cashflow" board game.  I felt like they helped me gain confidence and cultivate strategies I'm not sure I would've thought of on my own.  Having said that, I don't exactly follow Kiyosaki in general (although I did catch the 500th podcast) and can't imagine going to one of his seminars.

@Justin Thorpe

"But that said Kiyosaki has a huge following among the young, broke and the naive."

You couldn't be more wrong!!!  I'm not young.

@Scott England

We're already investing in Florida, but would definitely consider Oklahoma.  What area would you recommend?

@Greg M.

That's depressing.  I literally can't believe this happened in America.  Man, a lot's changed since I was a kid...

@David Campbell

You should definitely plow those earnings back into 4 or 5 like properties, go negative 2k+ a month, and make some real money!

Thanks for your service.

@Nathan Gesner

Thank you for the comment.  It sounds like we're going to pursue an attorney's opinion today to try to find the best path forward.  Through all of this, we've also learned that our property manager has some holes in their game.  I'm not impressed by how confused they seem through all of this process.  I thought that's what we were paying them for...  Sheesh.

@Roop Dhillon

I definitely hope you get the money from both, but at least it's encouraging that the one tenant at least filled out the form.  Again, I hope you get the money, but at least they did the absolute minimal in the given situation.  I can't imagine being unwilling to fill out a form to help someone out that I screwed over, but I guess it's more common than I'd imagine (sadly).

@Greg M.

Thanks for the response.  It's obviously worth a try, but the way these people have acted, they don't seem too concerned about being sued (or doing the right thing).  I guess I'll have to get my "language" polished up and reach out to them (if I can track them down).  Thanks again for the confirmation.  Guh.

@Bruce Woodruff

God bless you.  I'd like to join you, but my family isn't ready yet.  Having said that, I'm definitely trying to figure out a way to move my money out.  California appreciation is great and all, but I'd rather make less somewhere else and not be beholden to this nonsense.