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All Forum Posts by: Mario I Anaya

Mario I Anaya has started 1 posts and replied 5 times.

Post: Significant Other Hesitant to Get Onboard

Mario I AnayaPosted
  • Los Angeles
  • Posts 7
  • Votes 0

Hi Ryan,

I will share my experience. In 2019 I got a HELOC of $165K. After paying some debt, I bought two rental properties and paid cash. Paying cash for them was a mistake. I should have leveraged myself instead. Once I realized this mistake, I refinanced these two and bought two more. Although we are paying for the HELOC, property management, repairs, mortgage, taxes, and insurance, we still have a positive cash flow. In addition, the properties have gained $150K in equity. Not to mentioned that our tax bracket went from 44% to 12%. We are currently refinancing our primary home to reposition ourselves. We want to invest more in 2022.
At first, my wife was unsure of getting the HELOC to make the investments.  I believe what changed her mind was introducing her to financial education.  The BiggerPockets podcasts are a great resource for educating all of us investors.  The fear of the unknown can paralyze mentally and physically.  The Rich Dad Poor Dad book is a great read and start.  Another favorite of mine is The ABCs Of Real Estate Investing.
Investing in real estate is the best thing I have ever done. Having my wife as a business partner has been extremely critical.  If your wife comes on board with you, your financial future will be brighter.

Post: Newbie investor in Memphis, TN needs to rehab whole house

Mario I AnayaPosted
  • Los Angeles
  • Posts 7
  • Votes 0

@Curt Davis, sure thing.  Is there a number where I can text you, or is there another way that I can send you the address?

Post: Newbie investor in Memphis, TN needs to rehab whole house

Mario I AnayaPosted
  • Los Angeles
  • Posts 7
  • Votes 0

@Koleton Daley, thank you.  My current property management company is Enterprise Property Management in Cordova.

Post: Newbie investor in Memphis, TN needs to rehab whole house

Mario I AnayaPosted
  • Los Angeles
  • Posts 7
  • Votes 0

@ Curt Davis, I appreciate your response.  I have reached out to my property management company.  They have provided a rent-ready estimate.  I am looking for a second estimate to compare quotes.  I am very excited about Memphis Real Estate.  I am going to continue to invest there.

Post: Newbie investor in Memphis, TN needs to rehab whole house

Mario I AnayaPosted
  • Los Angeles
  • Posts 7
  • Votes 0

Hello experts and alike, I have purchase two properties in Memphis.  One is rented already.  The other was bought on an online auction. The house is now vacant and ready for a major TLC.  All of the rooms need to be touched.

  • Does anyone in this forum do remodels, and is willing to give me a free estimate?
  • Any suggestions on how far to take this remodel?
  • What are the remodeling trends in this area?