All Forum Posts by: Isiah Ferguson
Isiah Ferguson has started 66 posts and replied 315 times.
Post: Payoff mortgages or not
- Investor
- Charlotte, NC
- Posts 320
- Votes 157
Originally posted by @Joe Villeneuve:
No you wouldn't be cash flowing around 1800/month. That "extra" money you are adding to the cash flow is just money that is now catching up to the cash you negatively put into your properties.
Since you don't mention what the payments are now for those two mortgages, I'll assume it would be a total of 1000/month you are now paying for them. That said, it would equal 12k/year. That means if you pay off 115k, cash out of your pocket, it will take you about 10 years before you break even.
If you want to increase your CF, take that same 115k in cash and buy another property (20% DP) that will cash flow, and let the tenants payoff your mortgages. That's their job, and they're really good at it...don't help them...they don't need it,
Hey, you always have a interesting point when it comes too payoff properties vs leverage. What do you think about a person primary residence ? We all have to live some where. Should it be payoff ? Besides house hacking
Post: Peel and stick countertops for rental ??
- Investor
- Charlotte, NC
- Posts 320
- Votes 157
Has anyone used Peel and stick countertops for rentals ? If so how long did it last ? Thanks
Post: Investa-Brothel the Odyssey
- Investor
- Charlotte, NC
- Posts 320
- Votes 157
Thanks, love this story. I wish this could be me and my wife. blah blah LOL. Super congrats, I'm doing a similar BRRRR with a duplex I purchased cash in 2016 as well. I'm learning on the go and I know things with turn out great. I appreciate the inspiration.
Post: Fourplex Purchase Questions and Analysis
- Investor
- Charlotte, NC
- Posts 320
- Votes 157
Originally posted by @Lee Fahy:
@Mike McKeown; thank you for the info, as with everything there's more to the story. I purchased my duplex cash about 1.5yrs ago and just sold my primary residence (closed December 8th). I'm couch surfing until I can close out a new multifamily. It's all above board.
Hey, what made you decide to pay cash instead of leveraging ?
Post: After 3 months of pure stress & anxiety...I got my 1st property!!
- Investor
- Charlotte, NC
- Posts 320
- Votes 157
Super congrats, I know the feeling. I'm happy you made it through. Good luck the rest of the way.
Post: Has anyone ever enrolled in "Penn Foster career school" for the H
- Investor
- Charlotte, NC
- Posts 320
- Votes 157
Has anyone ever enrolled in "Penn Foster career school" for the Home Remodeling and Repair Program ?
Post: My BEST DEAL in 2017
- Investor
- Charlotte, NC
- Posts 320
- Votes 157
Super congrats
Post: Help. I just to want to make sure this is right !!
- Investor
- Charlotte, NC
- Posts 320
- Votes 157
ARE THIS FAIR PRICE POINT FOR THIS LABOR ?
Post: Rehab question before the work begin ??
- Investor
- Charlotte, NC
- Posts 320
- Votes 157
GM. Question. From a legal standpoint what contract agreements do you make your contractor sign before he starts the rehab?
Post: what should I do ??? any advice
- Investor
- Charlotte, NC
- Posts 320
- Votes 157
Hey, BP. I recall some people being interested in the move ill make moving forward. With no judgement, I cashed out on a townhouse for my 3rd unit which will be a move in rental for maximum 24 months. Asking price 134k and PP 129K. The place was move in ready. 2bd, 2+bth, living room, great room with fireplace, upstairs loaf with very high ceiling, back patio, and garage. If I put 10k in ARV will be 155k-165k according to the current market. Also in a growing neighborhood. Schools district at a 6 rating. C+/B community, very quite and laid back. Not quite sure what I will do moving forward but as of now I have 3 units, 2 free and clear properties. I'm looking to get my business well organized as a whole and keep scaling from there.