All Forum Posts by: Ryan Billingsley

@Ren Agostini As long as the #s produce positive cash flow when rented it makes sense.

Once rented the monthly rent income will pay down principal and pay monthly interest.  I agree with @Luc Boiron that your best option is to use your capital to acquire more property rather than have more equity.  

Make your decisions based on what will increase your net worth the fastest.  Usually that means buying more assets. 

@Lamar Cannon  I have never heard that before.  I would shop around and call other title companies.  I have made more than 20% on most of my deals and over 100% a couple times.  Never once has a title company turned away business because of my profit.  

Classic case of my way is better than your way.  The best part about real estate investing is for every 100 investors you will find 100 different ways to invest.  Cash flow, appreciation, and debt pay down are all positives.  All depends on what you are trying to achieve.

@Daria B.

My uncle had a in the ground concrete pool and had it filled in.  It cost him over 10k to complete the job.

@Kevin Prentice @Ronald Perich

Thank you both for chiming in.  You both make valid points.  A pool will only add problems.  It narrows down the potential tenants and adds unneeded cost.  Thanks for helping me see the cons.  I was having trouble seeing the pros but it looks like their really is not any when holding the property as a rental.

I had a lead come in today regarding a 3/2 1500 sqft home.  I will be going to walk the property in the next few days, waiting on the owner to schedule a time with the current occupants.  The property has an in the ground concrete pool in the backyard.  This house is located in the St. Louis Missouri area so pools are not that common.  I am wondering if anyone on here has a rental that has a pool and what are the pros and cons?  I plan to either wholesale it or keep it as a rental for my portfolio.   

@Barry Eggleston II  Welcome!  Bigger Pockets is a one stop shop for knowledge, networking, and getting help as you take action with real estate investing.  Definitely check out the podcast, blogs, and don't hesitate to ask questions and participate in the forum.

@Shelby Pracht Congratulations on reaching your goals of financial freedom!  You are an inspiration to me and many others who are chasing freedom from giving time for money!

@Brandon Z.

@Brandon Z.

The BRRR strategy: Buy cash, rehab cash, rent, then refinance the money you invested back out to buy another property.

When analyzing properties you need to have your exit strategy mapped out before you buy. You need to have an idea of how the property will perform before you ever purchase it. You need to know what it will rent for, what your principle/interest, vacancy, insurance, maintenance, and property management will be so you know it will meet your cash flow requirements before every purchasing.  Closing cost are usually minimal if financed they will cost you a couple dollars at most.

The most important part is buying right. You need to buy it way below market value with enough room to refi out purchase price and rehab budget. 

@Toi H. I agree about the evictions.  Whoever wrote the movie probably wanted more shock and awe to make the crooked broker look even worse.  They really did go overboard with the elderly man.