All Forum Posts by: Kevin Childers

For what it is worth, I laid 600 sq ft of laminate for $650. It took me about a day and a half to lay it. 

@Cody Thompson hopefully they will work with you.

Check and see if your lease has any contingencies that will allow you to back out of it or a grace period. 

@Omar Cantu it is great that you are asking questions but it would be even better if you would follow the advice you have been given. Some of it is getting rid of the truck and some is keeping the truck but becoming creative on how you get to where you want to go. 

Once you have your aha moment and you figure out your why, you'll be crystal clear on how to get there and in the process become unstoppable at achieving your goals. 

@Rich S. I was tired of waiting on the market to rebound in my area so I could sell my house. I decided to lease it instead, best decision I have made in a long time.  

@Steve S. Then I would keep the mortgages and invest in more properties. Just make sure you buy right so if the market goes south again you come out ahead. 

I could be wrong but the way I see it is that you are paying your mortgage payments with other people's money. I would let that ride as long as I could leverage their money to invest in bigger better deals. Why risk your money if you don't need/have to, put it to work in other investments.

It would be a tax advantage for him. For sake of argument lets say one SFR will sell for around 250K, he would end up paying taxes on the capital gains unless he is going to do a 1031 exchange. I would rather have passive monthly income coming in every month that is taxed at a lesser rate.

If you pay them off will you be pulling the equity out to reinvest it? If not, other than increased cash flow, what is your long term goal with the properties? My take is that any equity you have sitting in a property is money that is not working for you. 

First, welcome to BP! 

I am in the same boat and have a SFR but I am looking for multi families 4 units or less. The way I see it is that my overall cap x would be cheaper if I have more doors under one roof. Plus if one goes vacant for a short period of time it is not as bog of a hit to my cash flow. With a 5 year time frame your goal is very doable and then some.

@Justin Heitter yes, lose the jeep since you have two other means of transportation that are paid for. Sorry I totally forgot about answering the cap and cap x question, I got caught up in the debt repayment plan. 

If you haven't already done so, I would recommend that you learn how to read your personal financial statement. You want as much as possible in your asset column as quickly as you can get it there. This was a huge eye opener when I first learned to read mine.