All Forum Posts by: Richard Advani

Hi Mark,

Congratulations on your first rental. Many of us have had to purchase in cash in order to play in this market. The answer to your question is a tough one without additional information. It depends largely on whether you have additional funds to continue investing in real estate or if you need the funds from a refinance. In either case generally you will have an increased ROI as well as an ability to scale quicker when incorporating responsible leverage in to your plan. Let me know if you need additional information, I am happy to also provide information on the current loan options available to you.

I think its personal preference. Some people have just one account for all of the RE investments, some group by state. It is definitely advisable to have at least one separate account for your RE investments. I don't personally see the need for a checking/savings combo, just a checking account should suffice.

Due Diligence and accuracy of data provided by others

Great job on your first purchase, sounds like a home run! I think its important to find a middle ground that is comfortable for both you and your wife. Leverage is a great way to accelerate your real estate investments however its important to leverage responsibly. Is your plan to duplicate what you already did with your primary home or to use the funds to buy an existing home that can be used as long term rental? I would start slow, with out of state investments you don't always need a huge amount to purchase a solid rental. Maybe use some equity to buy one, rent it out, get a few months of rent in the bank, share the success with your wife and then see if there is a comfort level to continue.

Feel free to DM me if you want to discuss in more detail.

Looks like a solid first purchase. Anything on the horizon for 2022?