All Forum Posts by: Mark Douglas

If private lending (immediate network of family/close friends) isn't an option, would the next step be a hard money lender?  I only need it for the 20% down payment, not to finance the full asset, an 8 unit apt.  Is it unwise to borrow the down payment with a high interest loan?

When you're aiming for a goal (freedom number, for instance), how do you balance the sacrifice of immediate comfort with not going "overboard"?

Example: Saving for a down payment, or waiting to buy another property till I've got sufficient cash reserves in the first property.

I'm fairly disciplined, but I feel like I'm running my goals through my mind nonstop, all day, to try and stay focused. It gets burdensome after a bit, like this is all I'm focused on (which it is). At what point can I let up?  Should I try to grow at a slower pace?  

For context, I bought my first property in March '16.

@Paul Corder  next time you're in Nashville, let's grab lunch and talk real estate!

@Michaela G.  That's a good point.  The people not on the lease are the tenant's son and ex-husband.  There is a lot of personal conflict between them.  If they are paying rent for the rooms, it isn't making it to me :)  To your point though, she may have just been having a rough day, and told her side of the story.  

Either way, I'm not a counselor and whichever side of the story is "right", I don't have time for the drama that it creates.  It's seemed to settle down, but if it stirs back up, I will not renew her lease, and they can sort out the drama with under another landlord.

@Chantal Manning  welcome to BP!  so exciting to hear you making those moves !   Be sure to post your deals on the "success stories" forum so we can congratulate you :)

As I acquire rentals, I know I'll need a reliable handyman to service these properties.  I'm looking for someone willing to grow with my company, so we can both profit from each other's success. 

I'd love to connect with you.

-Mark 

@Christina R.   for sure,  I'd want to pay it off as quickly as possible!  thanks for chiming in !

@Account Closed  good catch.  thanks I'll look into their requirements

@Ralph R.   Had a talk with her this afternoon.  I'm going to monitor the activity of her unit for this month, till her lease expires.  If things seem to settle down over the next few weeks, I'll consider letting her stay.  You're spot on about the sanity.  I need to sleep at night !  (Literally, since I'm house hacking the unit next to hers lol)

Yep, think that's what I'll do.