All Forum Posts by: Chris Stromdahl

I am a vet as well.

We did great on our personal residence in terms of equity, but my wife will agree with me all day when I say that we should have bought a fourplex with my VA loan.

If we ever move and sell our personal residence, we will use the VA loan to facilitate the purchase of a MF property.

That's pretty much it.

For me, I could use 100K to buy one house and produce approximately $1300/month in cashflow.

OR

I could use the 100K to put down payments on 5-6 houses, each of which will generate approximately 500-700/month cash flow. Thats $2500-3500/month that I use to payoff the $500-600K in debt, and move forward from there.

There is alot I can do with 100K that will produce more the 1300/month.

Just did.

Check out Mint.com

The best.

We own two investment properties and are cash flowing $1150/month between the two.

This is not spending/Vegas money.

I don't need to build an empire, but we would like to have a portfolio of 5-6 doors to pad our retirement.

Originally, I planned to use the cash flow to pay down one property at a time, while preparing/saving to purchase another. However, recently I started to think that if I save the cash flow on a monthly basis, realistically in 12-18 months, I would have enough for another down payment. Plus, by this time properties would be seasoned and the bank would be willing to loan us more money. We would complete this cycle three times until we had our 5 doors, then use the cumulative cash flow to start paying off the houses.

My thought is that the interest rate on these two houses is very low, so not a huge loss there. And, I am willing to extend my payoff timeline in lieu of acquiring more properties.

I figure by the time I am 40, I would have my 5 doors, and would start focusing on paying it all off.

@Marcia Maynard

@Curtis Bidwell

If either of you have any guidance on this it would be very helpful.

Thanks, Chris

Thanks.

@Bill P.

Understood.

Yes, the tenants pay $25 per pet/month.

With that being said, what are your thoughts?

Hello,

I would like to put down laminate/wood flooring in one of the houses I own once the current tenants move out.

The carpeting that is currently in place is on it's last leg, and the tenants have pets so I expect the condition upon their move out to require replacement anyways.

My question is: may I use the portion of the security deposit that I would have used to purchase new carpeting towards the purchase/installation of laminate/wood flooring?

Is this an appropriate use of the security deposit?

Those sources are OK. Rentometer never made much sense to.

My wife and I use Zillow, Trulia, etc. 

You can google for free analysis spreadsheets.

If you like, PM me and we can exchange email addresses and I will send you mine.

@Kevin Miles

Yes, PITI...rookie mistake. Thanks.

Some renovations: paint, minor landscaping, aesthetic. I had to buy a W/D and fridge too. Out of pocket, $1Kish.

If anyone in Tacoma is looking for a reliable used appliance outlet, PM me and I will give you the name of the company. Free delivery. Awesome service.

Closed on SFH #2 in May.

3/2, 1200sf in Tacoma, WA.

Short sale, $105K, 15% down with a 4% interest rate.

$708 PMI, renting at $1400.

Self managed and loving it.

Thank you BP!!