All Forum Posts by: Nathan Hall

@Jill F. We are enjoying the kwikset smartkeys as well. Good locks, great solution from everything I've read.

@Tony Kim I can't speak to your success rate, but I can speak to agreeing with your assessment in principle.

@Mike Dymski 100%. I always liked the idea of REI but it wasn't until I learned that I was bringing another person into the world that I decided to act on it. Before that I was just comfortably living the rat race.

@D'Andre Byers if it makes you feel any better on the kid front, I'm an ex-military person who had a couple of marriages when he was young, that didn't stick, then took another crack at it 4.5 years ago and a year later at the age of 35, found out I was going to be a dad (didn't think it was possible, based previously on "experience" and some exposure to certain stuff that limits those chances, in the course of duty).

Regardless of the fact that I have a good job and income that supports us all comfortably, THAT is when I decided to start applying what I had been learning. I started in October 2017. As of today, we have seven units over four properties, with three more coming online soon as they're rehabbed, in addition to some rental storage units. Plus a nice large Victorian historic home that is technically a liability, but I love and am happy to pay for.

All of that is to say, don't rush it. Build your life and your relationships first. The loved ones are key. The rest of this stuff will work if you apply what you're learning.

@Ashley Gish this might seem flippant but, from my perspective, your student loans are a sunk cost. That's just a bill you're going to pay, for a long time, and that's ok, no judgment from me. But it's equally obvious that you have funds available to purchase an investment property.

If you can continue to make the loan payments regardless of the down payment you are contemplating, then analyze that deal. Analyse it again, and a third time. If it looks profitable and if you'd be happy with the return on your investment, buy it. The worst that happens is that you took a chance and it didn't work. The most likely scenario, if it's a good deal, is that you, for once, are making money every month. And regardless of the amount, that is an eye opener and game changer. Real estate isn't the passive game it's made out to be, at least for most, but it is a tried and tried vehicle for people looking to increase their quality of life. If you can take a jab at it without causing yourself harm on a bad decision, I say do it. And I also recommend reading up on how to suck away that money so that you see it, are motivated by it, but HAVE it and don't RELY on it in case it's needed for CAPEX.

@Rhonda McDaniel just curious, what happens if you don't pay them?

I had a small one once when I was post military but was luckily able and smart enough to pay it off when I had a windfall of funds from traveling with my job.

@David Fairall s 401k isn't debt, it's a tax deferred investment.

@Chauncy Gray No offense, but it sounds like you had little to no idea how interest works in the first place.

Each lender is required, by federal law and prior to closing, to give you a document laying out exactly the findings you made with your amortization calculator (a Truth in Lending document) . These aren't hidden fees or gotchas. These are what your lender anticipated you'll you pay for not having 100% of the money you need for your investment. And they're much more forgiving than, say, credit card interest, because it is secured versus unsecured debt.

I would strongly encourage you to spend some more time reading about and understanding this, as it is fundamental to borrowing.

@Josiah Patrick Zebarth if you're interested in real estate long term and don't see the allure of college/don't foresee increased income based on a degree path you'd be interested in, I'd learn a trade. Specifically electrician. Nothing against plumbing or carpentry, but based on easily mitigated through proper procedure increased pay for bodily risk, plus the benefits of being able to upgrade your own properties, I see electrician as the most desirable of trades. I personally was a metalworker, and loved it, but that has limited real estate applications. Plumbing is lucrative but requires more messy work. Carpentry is great but by and large, you'd only really get to apply your skill on new construction or stuff that was more cheaply done in a factory based on volume (i.e, cabinetry).

@Jacob Sampson I absolutely take your point and laughed at your response, but can we all agree that's it's "still" fun when it cash flows well? :D