All Forum Posts by: Nick Barlow

@Dan Heuschele you are spot on. To OP, if “breakeven” means your rent received and mortgage are equal, then Dan took the words out of my mouth. And don’t refi in that case.

If "breakeven" means you're setting aside 20-25% for CapEx, maintenance, vacancies, and rent is also paying for PM fees, but there is no "profit per door", then it matters if you're under market rent and reasonably think you could raise on renewal or after turnover. If this is true, then I would only refi if you have access to a consistent dealflow and you could close on something within 60ish days of refi.

If you manage it yourself, and aren’t paying yourself to do so, then my .02 would be no refi and save elsewhere.

Good luck, and let us know what you choose!

@Tom S-great advice to get into home ownership/rentals.

@Erin Wicomb congrats! Excited for you to keep growing. Thanks for sharing-it reminds those of us on the hunt for deals of the reward for all

If the hard work.

@Michael Ealy great post! Thanks for sharing! It’s like you say, sometimes investors get into a rut. I myself am where you were before getting into the larger commercial properties. Thanks for posting, just to remind investors at my stage that continued persistence will cause continued growth.

Hey Doug,

Welcome to BP, and Happy New Year! Congrats on the recent purchase! 

We’re practically neighbors- My wife and I are from the Warsaw area. send me a PM if you’d ever want to meet up.

Nick 

Hi BP!

 My wife and I have are relatively new to RE investing, and are formally saying hello the BP community. We have been listening to BP podcasts and checking out this and other forums for about a year now. 

In that time, we have purchased 2 deals-a triplex in Cincinnati, OH and a Duplex in Mentone, IN. We reside in north central Indiana, and would be happy to meet other landlords and investors in our local area and just talk about RE investing.

I hope everyone has a great weekend!

Nick