All Forum Posts by: Pavlos Kasselouris

Welcome! 

Yeah, I keep away from Holly Hill as well...too rough for my taste.

For now I have investments in Port Orange and south of ISB but Im thinking of going aggressively after MFH.

Gl!

 Is there a reason when I went to refi a property and they created a PFS according to my last years tax return?

 Awesome! Good to know this post reached at least one person, makes me feel great! 

Personally now that I saw a ton of investors having and actively using a personal financial statement with their lenders, I will start one as well to log in all in a cool excel spread sheet, that will so historically from day one actual numbers that each property perfomed in one place. I do have Income and expense reports from every property so it wont be that hard to gather the data.  

Thats awesome @Cliff Harrison! #19 is a great number! Could you share how have you managed financing till now? Have you had to pay off some loans on other properties in order to allow yourself to grow?

 Unfortunately that's not true, because if you increase your liabilities or your spending your NET worth might go down, stay the same or not increase as much as you thought it would.

@Curtis Bidwell and @Andrew Syrios Is it easy to find a sample of personal financial statement? Will this help me with any commercial deals or prortfolio lenders I go for in the future?

 Thats exactly what Mint does. I can also enter private loans. But as i stated above I will look personal capital.

It is nice when it points up, its very addictive. I was the same way with my poker bankroll when i was playing poker.

 Yes, it is like game, but daily i find it to extreme, since it would fluctuate a lot with some big expenses, unless you make daily a lot of money. I do it montly since thats when i get rent payments pay loans etc. If i had a business i would probably do it weekly. Ill have a look at Personal Capital.

I plan doing a quarterly CMA and subtract closing costs to calculate real estate. I dont want to sell anyway so thats just typical and to be able to judge whether to refi or not at the future. Maybe i will need to have a second mortgage on them, or I want to calculate my return in equity. Useful number either case.

 Nick my reasoning is firstly that you cannot correct what you dont measure. So I guess besides the calculation of the performance of an individual investment, net worth gives the bigger picture. Its not how much you make, its how much you have on your asset column. That's what will give you ultimately your financial freedom, right?

Second it gives me motivation and helps me be patient. Buy and hold investing is soooo slow, to the point its boring, so with this way I try giving some sort of interest.