All Forum Posts by: Justin Brickman
Justin Brickman has started 40 posts and replied 489 times.
Post: Open House Saturday / San Antonio Texas / Pool, VIew, and Huge Deck
- Realtor
- San Antonio, TX
- Posts 495
- Votes 273
Come check out my new listing at 654 Kate Schenck Ave. Would be an amazing short term / mid term rental. Reach out to me with questions and how much cash flow you can bring in.
Post: Best cash flow cities for 2023
- Realtor
- San Antonio, TX
- Posts 495
- Votes 273
Quote from @Cliff Garcia:
Quote from @Justin Brickman:
San Antonio!
Everything I see is way out of range here at home. Even the foreclosure alerts I get off and on are always in the red. Nothing I come across will pay for itself. Unless of course you go on a low ball spree with a bunch of listings to make the numbers work
If you're actively looking and offering, you will find a great one
Post: Best Business Banking Account for an Agent?
- Realtor
- San Antonio, TX
- Posts 495
- Votes 273
Not Bank of America lol
Post: Paying down additional principal each month
- Realtor
- San Antonio, TX
- Posts 495
- Votes 273
Quote from @Conner Olsen:
Quote from @Billy Mcavoy:
I’m a first time home buyer and looking for some advice. I purchased a condo in December 2020 (in DC) and currently live in my unit. I’m moving to NYC in mid May and will be renting out my DC condo around June 1st. I have a good interest rate (2.75% rate) and have been paying an additional $250 down on principle each month. At this rate it’s estimated that I’ll pay off my loan 10 years early saving ~$31k in interest payments.
If I stop paying additional $250/month on my principal my cash flow will be more or less break even on month. However, if I pay down $250 extra on principal each month I’ll have negative cash flows but I’ll build equity in the property faster and avoid paying more interest in long run. What’s the general guidance when considering additional monthly payments on principal? Am I doing the right thing or should I forgo paying extra down on principle each month?
I think of paying down debt the same way as buying an investment (stocks, bonds, whatever). If you pay down a loan, any additional payment is giving you a return of 2.75% in savings. Would you buy an investment if the return was 2.75%? Would you pay off a loan to save 2.75%? Can you invest the difference somewhere else and earn higher than 2.75%?
That's how I think about it.
I love this way thinking about it
Post: Paying down additional principal each month
- Realtor
- San Antonio, TX
- Posts 495
- Votes 273
Put that extra cash into a new property. And pay off the new one aggressively since it will be much higher
Post: BRRRR, turned fix and flip.
- Realtor
- San Antonio, TX
- Posts 495
- Votes 273
Big time!
Post: My 1st Deal
- Realtor
- San Antonio, TX
- Posts 495
- Votes 273
This has to be one of my favorite first deals ever
Post: House Hacking for W2 employee
- Realtor
- San Antonio, TX
- Posts 495
- Votes 273
If you've gotten that recommendation from multiple lenders, then its probably the best option. I also skipped over the part you mentioned using the Navy Federal home buyer's choice. That's a great option and a hard package to pass up. Good luck my man!
Post: House Hacking for W2 employee
- Realtor
- San Antonio, TX
- Posts 495
- Votes 273
Try not to use a coborrower, especially if this will be your first rental. But I love the house hacking method to get started. Will teach you a lot no matter what.
Post: Analyzing Neighborhoods for investing
- Realtor
- San Antonio, TX
- Posts 495
- Votes 273
Try to find out city plans for the area in the upcoming 6-12 months. If any big tech companies, giant fast food chains, shopping centers are in the near future, that will tell you all you need to know.