All Forum Posts by: Lance Robinson

Hey @Lance Robinson thanks for the mention and giving a rip about what I did / do!

My personal residence also has a mother-in-law apt and does have debt.  A 15-yr at 3.375% mortgage.  11 years left. Refi'd from a 30-yr at 6.5% in 2012.  Refinancing will save us $193,000 in interest over amortizing what the 30yr would have been!

Our net cost is $100/mo basically.  The principle buy down is $1100/mo and the renter pays $800 against our $1900 pmt.   $100/mo in reserves for the rental.

Our primary is down the list on the snowball of complete debt-freedom because of this. One of my 7-unit apts will be paid off the same year as my primary.  After my 10unit mixed-use apt bld is paid off shortly, next will be a little rental house.  Look out below- the snowball is gettin' huge!  I'll be posting about my mortgage burning parties, so stay tuned! 

I'd be Ramsey and Kyosaki's evil step-child!  I carry no personal debt.  No car payments, student loan, CCs, personal loans, etc.  It's awesome not having to all my available money to everyone and not having to manage all those stupid payments!

However, I have RE debt. Quite a bit.  Paying it down, but utilizing intelligent, managed leverage has put me way ahead of where I would be if I never used it.  I may have 2 paid-off houses vs 3 dozen doors.

To answer your question of who has done it the Ramsey way specifically, I would like to invite my debt-free colleague @Julie Kern to the discussion.  Hi, Julie! :-)

Hi All,

Wondering if anyone has left a welcome present for new tenants moving in? If so what? 

Dan

@Lance Robinson Wow! That's phenomenal! It's amazing how different markets are. You'd be stuck with Class C & D here in Orlando with those prices. I think I'm in the wrong market. LoL Thank you for the info. How long have you owned the properties?

Hello @Lance Robinson Thanks for sharing. No vacancy is great. The numbers seem great too but I am a newbie so I'm not sure what the numbers represent with no heading. Cash on cash and cap rate are the first 2? Do you mind if I ask how much you paid for the 4 properties and if they are class B or C neighborhoods?