All Forum Posts by: James Murphey

 I am going to remember those words.  "I work for the management company."  A great way to position yourself.  

I agree with @Cody L. I would not put my name on the LLC. I would also avoid telling the tenant that I am the owner if possible. Mike Butler's great book Land Lording on Autopilot discusses the advantages of identifying yourself as the property manager.

@Matthew Medcalf I would only pursue a househack if you were getting paid a significant amount to live there. You are already currently living for free I am guessing. It would be hard to beat that, but if you could find a triplex or fourplex that you could actually get paid a significant amount to live in and manage that could be a good deal. Just run the numbers with you in a unit and with you not living there. That way you can make sure the cashflow and ROI are okay with you in both scenarios. A good fourplex could potentially pay for your student loans. I guess the decision would depend on your market. If I saw a good fourplex and the numbers made sense I would pursue it. If no deals are showing up you can not go wrong with paying student loans off early. This book is about househacking.  Prettygood

Been reading this and listening to So good They Can't Ignore You by Cal Newport.  It makes a nice combo. 

I agree with @Jack Medford I would keep saving while looking for a househack.  Then you could speed up paying off your student loans.  You would be saving 30-40% of your income.   Let us know what you decide. 

I use Mint, digit, Ally Bank, credit karma and max out my 457b. Mint is great budgeting.  Ally has a high 2.2 interest rate savings account. credit karma let's you know your score for free, and any charges you might miss.  Digit saves your extra money.  Great for a rainy day fun.  457 or 401k s are a must, especially if there is a match. 

I am in the education/capital acquisition phase at this point.  Once me or my wife land a job in Tennessee we will be moving there, and house hacking/investing.  I really believe that waiting to build leverage in oneself is a great move, but it too often is just an excuse because of the fear of making a mistake.  It is also foolish to quit a job, and just try to jump in the deep end.  In the book The Millionaire Real Estate Investor the author say, "think CTN,  Criteria Terms, and Network."  Not having a gap in employment, and being able to show consistent income is part of the Terms of being able to get a loan.  I am exited to start, but there is a balance in preparation, and taking the plunge.  

@Charlie Moore you just have to sign up for his news letter, and then you get access.  

@Charlie Moore

https://www.coachcarson.com/

Some great info, and if you have not read his book it is a great book about how to retire on real estate.  

Chad Carson has a checklist you can get from his website if you sign up for emails.  Pretty great checklist.