All Forum Posts by: EJ K.

Wow. Thank you for all your different insight and opinions. It is great to see others thoughts. Llewelyn and Greg sort of have my same thought process. Ideally, yeah I don’t have to put money into properties and cash flow really well, but the fact that I put 0 down and still will be slightly positive makes it make sense to make. The closing costs of selling don’t make sense. If I were to get this home paid off, I would probably cash flow 9-12 k. If I didn’t have the luxury of the income, it wouldn’t be sustainable, but with the physician income it’s something I think that is worth stomaching.

I saw people saying I should invest in commercial for medicine or move to other types of investment. My job is 7 on 7 off. 25 weeks a year. This is a really fun hobby to me. I plan on trying to dedicate a fair sum of money every year because I enjoy this and is a something to research and do on my off time. 

I’m looking forward to moving to Indiana and learning the market. 500 thousand dollar homes have the same property tax as my sub 200 k town home.

the one bind I have is to get my forever home, I will probably have to start getting this debt paid down.

Starting July when I am an Attending Physician, I plan on making out my wife’s and my own 401 k. Also plan to back door roth a bit as well. Still plan on investing in some real estate as well. The tax shelters for my income is far too valuable.

Currently contributing 12 percent to retirement and house hacked twice during residency. 

If a big opportunity comes, I’ll probably just work more Shifts to cover it, cost pending obviously. 

I won’t have as much financial freedom until the government forgives my loans 02/2028 given that it’s 500 k. I pay ten percent of my taxable Income until then. Thus maxing out pretax shelters is a true necessity to minimize my payments.

Mark welp. Life insurance as an investment is most of the time a farce with horrible returns. 

Hi all,

Was curious about everyone’s perspective. Moving to Indiana after previously buying a townhome in Il. It will likely cash flow 100-200 after property management fees, not as much as I would like, especially if fixes come up. We bought it last year in July with 0 down at 4.05 percent no pMI.

Would y’all keep this and just try to pay it down quickly and still have a good monthly return once the principal and interest is off the expenses?  I would probably come out on top if I sold cause I converted a loft to a third bedroom. I could also drop a large sum on it, once I get my first year under my belt at the new job and refinance to lower payments too.

I have a second property that’s cash flowing well. About 440 positive after all bills and savings for cap ex. So this could shield some of this one.

I come from a unique situation where my wife is a medical student and I am a physician. I start July as an attending and for the first 6 months won’t work extra at all, but after I get my feet wet I think I’ll go from 260 a year to 350-400k. Once she is  a resident next year she’ll add 60 k and in 4 years another 200-300 a year.

Paying out of pocket costs won’t be devastating as I could float those two mortgages and my next one (perm residence) on about 45 percent of my take home pay .

Any opinion is appreciated.

Eddie

Hello all,

My new job is taking me to Indiana. Anyone know a mortgage company that would do 0 down? No pMI? Debt to income 50 percent? While having two other properties. One is already a rental, and the other will be a rental after I’ve lived in it for a year. I have minimal equity in both.  looking at physician loan options or things similar. This third one would be primary residence.

Eddie

You can use for rental after living there 1 year.

Hey guys, grew up in Elwood. I have a rental in oak lawn and current town home in Lockport will be a rental. Moving to Lafayette soon as that’s where my wife’s residency will be. Still plan on investing in Illinois as I am familiar with the land. Would probably meet up as long as it’s on one of my off weeks.