All Forum Posts by: Jerson D.

I personally use Mint.com its a clean way to see all your numbers on either income or expenses. Just link your CC's or bank accounts. Also its free so id give it a swing!

im curious... i have a detached 2 car garage with its own meter sitting right next to my house. the space is 550sqft with a walk up attic, i was thinking of adding another 500sqft in front of my garage and extending the attic to the new space to be built i have enough space.. hows the legal part of this work? in im eastern mass about 30 mins from boston. i want to either have my girls parents live there for cheap rent  as an inlaw's kinda deal or move in myself and rent my unit... is this even possible.

i was listening to a  madfientist podcast!! was totally into the whole stocks and retiring in 12 years with 600k to use the 4& SWR butt.....i already own a small multi and have a good feel for real-estate so i made the switch! tmrw im going to liquidate my 30k from my taxable account, hitting up the realtor and trying to get into a low cost condo to rent out and start slowww.... end goal is 10 properties and ill be comfortable to live off them all.

id feel good with what i saw if it was a 2 family atleast, i tend to want higher down payments closer to 60k  and keep rent lower than avg to reduce vacancy's but ud have to keep it at 2.2k to make any money. don't really know your area but 200ish profit per month doesn't work for me. so putting that into effect not sure about this one. i look at things a little simpler, it either makes a great amount per month or i keep it rolling. (great for me is $400+ but that costs me 30-40% downpayment and self managing)

in reality i just want a good 5 properties under my belt and im done. my end goal is have them each cash flow 600+ no mortgages and just buy and hold untill i get buried one day haha.. i live a frugal lifestyle so i dont need much money at all. between stocks and real estate i should be good to be financially independent. i joined bp to broaden my vision and learn how everyone else thinks.. maybe theres a better course.  "Cause only a fool 

Lean upon, lean upon his own misunderstanding"-Bob Marley 

@Steve Bracero yeah that’s kinda my idea jumping into singles or condos in Salem nh, some fixer uppers and foreclosures are going for 60k there and I could rent it out for easily 1k-1.1k (again I keep rent cheap to kinda force people to stay and they actually really care for the place more

@Douglas Snook Yeah this house I really enjoy even tho I rent every corner basically. So it will be my base I was planning on buying either in lowell or haverhill or better yet, North Carolina. Lowell and haverhill are about 15-20 mins from me and I know of a couple of rehabs for even a little under 125k. Can’t buy in my city because a single here is easily 250-300k (super saturated market) as for North Carolina in the Raleigh area I have a good amount of family with the ins and outs of locations. Just need a property manager out there and a few visits to get comfortable with long distance landlording.

geeze congrats man you knew how to capitalize on your knowledge the legal way and now look from broke to dope! keep it up!

hey! thanks for taking the time to look at this post. currently i live in a 2 family home i bought in dec of 2015, some quick numbers are

296k (owe 270k) FHA loan (terrible paying pmi..but i didn't know better)

1st FL im in $0.00

2nd FL $1.1k (under valued by 200-300 i believe in low enough rent to keep vacancy's low) 

house hack my other 2 bed rooms $700.00

Mortgate= 1,960 owe 

im putting in about 500 out of pocket because the 2nd FL's heat is tied into my bill (1 big furnace) and yeah thats about it. house is in great shape for the next 5 years at least.. i dropped 50k on the first year finishing the basement, finishing the detached 2 car garage, this that and a bunch of crap.. house is in a nice area and has appreciated to about 365 as a guess based on zwillow. my real goal here is to buy and hold a 10 single family homes priced at 125k and under. my reason behind this is that i can save about 60k every 2 years and put that as a downpayment. i own a small construction company as a side gig so rehab is inexpensive.. well to a logical level. don't really like debt and im almost at the point where ill buy them cash 1 at a time... couldn't handle the stress of all the mortgages and the liabilities.. i don't believe in leverage. honestly its either stocks or real estate... came here from the Mrmoneymustache and madfintist's blog.  id love ideas or maybe a different approach to this.. im here because i need whats in your brains!