All Forum Posts by: Jordan B.

 I agree with your part of your statement the bible was written long ago, and America was built on spenders. But without savers, who do you think is financing your mortgages?  It's not the banks money friend, it's people saving money in the bank that they loan out, lol. The bank makes their money from your interest. Hard cash, again people saving money. Please do study a little bit of economics before throwing out simple quotes.  The unchecked debt is ruining America. I'm not talking about a wise business man, but the one trillion dollars of student loans going into default, the over leveraged social security that is running out quicker than being replenished, the families that are losing their homes and marriages in turn because of debt. American economy was built by men like Cornelious Vanderbuilt, John Rockefeller, and Henry Ford. Who had the entreprenual drive and cash to see their vision through. So yes they "spent" money, their money and created economy for us all to learn from. 

@Account Closed

You are right, I get sucked into an argument pretty easy I suppose. I guess that's just the pride in me!  You have a great no nonsense straight forward way of thinking, I like that!  

@Nnabuenyi Anigbogu

Thank you for the in depth post, great thoughts about appreciation that we haven't really discussed. The 36K property was a recent purchase at the time of post. It would actually be considered in a B neihborhood. My area is a less populated more rural area so the only appreciation you get is forced appreciation in our market. My personal residence is a 400K property and will more than likely be the same in 10 years. Just a stagnant market, but not much volatility even after the crash. And also the 36K property was bought at 40% under market value. We do a lot of leg work to find the hidden gems!  The only thing appreciating around here is farmland. Over 40% increase in value in the last 5 years!  Thanks again!

@Perry Ivy

Thanks for the prayers and kind words. I don't mention it often but that is one of my prime motivators to be in real estate. By the time I'm 40 I hope to have a lot more time for my wife and 3 children. It's always good to have a long term goal when venturing into opportunities. It's funny this life you know, it seems like the more we give away our wealth and continue to tithe our business has just continued to grow and prosper. HE is faithful in all things, those painful things that make no sense and those beautiful things that leave us amazed!

@J Scott

That's similar to where we are at only it wasn't just real estate that put us in a cash position. Your name has become a household name here of late, we are starting our first couple flips and have been devouring your book!  One quick question, what are your parameters in deciding to flip or buy and hold. That is a dilemma for my wife and I sometimes though our market is not prime for flipping. Thanks!

@Perry Ivy

Your statement about giving it all away for one more day is more true than you know. I lost my son 2 years ago and would give it all away for one more day with him. I like the turn of this conversation, debt or no debt let's be glad to have another day here on this earth to argue about petty things ;) and live in  a country where the average person can dream and build his own business. 

@Joe Villeneuve

Something tells me we may never agree on this! Lol. But honestly I believe you to be a very wise business man and you have my upmost respect. I really enjoy reading your posts and hope to continue to learn from you guys. 

@Russell Brazil

I believe that the statement if you are unwilling to take on debt then you shouldn't be investing in real estate and stay in the market is a laughable statement. In comparing my rate of return which is by definition gain or loss on an investment over a specified period expressed as a percentage, it makes good sense for me to diversify my money into both real estate and investments. It really is simple math. I clearly stated that in looking at real estate without risk in the equation leverage wins everytime. But it is ridiculous to think you can remove risk from the equation. Again, debt free is not for everybody and I am willing to move a little slower to start with but I say after 10 years of buying properties that my capital flow back into my business will keep up with the cash out refinance plan, and I have a file box of deeds. I do agree both debt and non debt can be successful business plans without a doubt, it is merely a decision each person has to make  I would never say that debt free is the only way that works or vice versa, let's hope that we can all succeed and run successful businesses brother!  Thanks for the conversation!

We always purchase within our LLC. It's good to keep it separated from our other assets and we have a bank account for the LLC that makes keeping expenses for taxes very easy.

Just wanted to bump this back into rotation. Is there no one in here operating a debt free platform. Would love to hear from you if you are. Thanks everyone!