All Forum Posts by: Roshan K.

The trick to this question is more money can make you less free. When we are broke struggling to get to the top (where ever that is) we sometime don’t even notice that we are already where we had wanted to be. The goal seems to keep moving and now you have to protect what you gain. How best to protect it, make more money. That does not sound like freedom to me. For me, financial freedom is reached when you find the balance of between making money and living your life, enjoying those you care about. Let the level of financial freedom be define as how much time it you can buy. What i mean by this is when you work you sell your time to someone else for money. It can be as simple as being able to buy your time to spend a day at the park or day on a beach in South East Asia.  The more financially free you are the more you can buy your time back and choose what you do with it. Now what you do with it is where the balance comes. If you want to always buy expensive things then you may not be financially  free to long, those things will own you! You will be a slave to that lifestyle. So because i do get to spend time with my family i would say yes i am financial free. Remember to stay financially free look within your self and remember what’s important to you. Often there are people around us, on tv, social media that try to make you feel that their financial freedom is the only freedom, or they try to down your choices. Just remember who you are and what you really wanted.

Financial Freedom. 

I guess depends on who you are conversing with right? Is your audience age 18? 20? 60? 88? Where are they located, I guess most people here are living in the 1st world. What if you were living somewhere in South East Asia? Then theres kids? Parents? Cars (maybe mainly uber)? 

Is 30K 50k 150k 500k a year sufficient? I guess that depends on your expenses? 

So if we minimize our expenses and have enough income coming in to float us by would that count as financial freedom?

I thought you needed to find financing before submitting an offer on a property? Why is it that you did it the opposite way ?

I see on your profile you are a dentist. What a great profession to generate cash for REI. Have you looked into buying a building to locate your practice in? Down the road you could sell your practice and keep the building generating income. My dentist told me that dentists make great long term tenants because it is very hard to move a dentist office.

We're a long way away from the reckless lending days of 2006.  But the 5% down for investment properties is something I have not seen.  This type of lending will result in more foreclosures.  

I think these are dangerous loans.  It is not dangerous if you have adequate reserves, but just elect to take a higher leveraged loan.  There are many things that can go wrong when owning rental units, so you need some extra cash.

Long time member, semi-first time poster. Here’s my situation: I was bitten by the real estate bug in my senior year of college (2-ish years ago) after reading Rich Dad Poor Dad. After a long time of reading, researching, and relocating (NYC -> Delaware), I’m one week out from closing on my first deal.

The deal is a short sale, in a seemingly nice neighborhood, exactly one mile from The University of Delaware. My plan is to do a live in flip (Purchase price $172K, Reno $14K), and then rent out rooms to friends, roommates, etc. the property is basically move in ready, but the renovation (which would be almost all DIY) is an attempt to have the property appraise near top of market at $240K.

All in all everything seems good, and going according to plan. The numbers work, nothing’s holding me back, but I keep feeling increasingly nervous. I’m still fairly young (25), and nobody else my age that I know is even talking about purchasing property yet. Does anyone have any feedback on when they purchased their first deal? Does everyone get these jitters around this time, or is it just me?