All Forum Posts by: Dessa Patton

Thanks, @Ben Zimmerman. I appreciate you sharing your knowledge and perspective.

I am still a newbie in research mode and I was talking to a family member who has a couple of rental properties. They paid off their properties early and didn't hold the mortgage for the long run. 

Is this a good idea? Didn't they lose tax breaks from the interest that was not paid?

Other than having the property free and clear - and flowing, what other advantages/disadvantages does this situation present? 

Thanks so much, @Tristan Gardner! 

I'm glad you pointed out the need for extra "rainy day" funds. I can see the wisdom behind that advice and, as a rookie, would probably have overlooked that really important detail. 

Thanks for the perspective! I'm excited but... whew!... that first step is a doozy! :-)
 

I'm brand spanking new and in the learning phase. What I don't know is pretty astounding but between the BP site and podcast, I'm learning so much. 

I just turned 47, have had some significant "learning opportunities" in my life and I'm finally up to a "zero" state. I currently live in NE Mississippi, close to Tupelo, and would love to know if there are any investor meetings in the area. 

In my early research, I'm thinking my best option for an intro into the property world is a small multi-family, using traditional/locked financing. We are currently renting and can't move for about 6-9 months due to family situations even though we are on a month to month, at this point. I plan to use this time to study the local market (which has gone up significantly in price!), work on stacking cash and really get a feel for what a good deal would be. Any other "to-do's" while I'm waiting? 

Also, would it be best to wait until prices come back down or just "jump in"? 

@Sean ORoruke, Are you local to Tupelo? I'm in the learning phase and looking for local groups of investors. Are there meetings?

Hey @Nathan Patterson. We are neighbors. I'm in Fulton, work in Tupelo and just in the learning phase. When you get back from the land of cold (ENJOY!!), maybe we should have lunch? 

@Quincy Holder Hey! Good to see a neighbor. I live in Fulton, work in Tupelo and just in the learning stages of things. Maybe we should catch lunch one day??