All Forum Posts by: Robin Watson

I am not averse to debt when it comes to investment properties. I want to own my residence free and clear and I don't finance my vehicles. Basically, I live a pretty modest lifestyle and will continue to. Some thoughts I've been tossing around: 1) create an LLC and transfer ownership of one of the 100% equity properties in order to use it as HELOC. I haven't thought this through yet, but I'm exploring it. The other thought is buying another rental for cash so I can count most of the rent as income. I realize I will lose some of the tax deductions, but my downfall in financing right now is irregular income. I run a small non profit and am a recently licensed real estate agent. Once I sell my residence, my next one will be with some acreage. I have horses, and currently the board for them is a mortgage payment.

I typed lenders, but meant investors.

My name is Robin, from Columbia, TN. (About an hour south of Nashville. Currently, I own the house I live in outright, and have two rental properties - one outright and one with quite a bit of equity. Even with the two rental properties, I consider myself a beginner. My goal is to pick up several more rentals, plus do one or two flips this year. Mostly I'm just looking for more education from experienced lenders. I will be selling my residence sometime in 2017 and will buy a smaller, less expensive home to live in for cash, then use the remaining funds as down payments on either a flip and rental, or two rentals. It will depend on the deals I can find. I don't have any specific questions right now - just trying to absorb as much info as possible. Robin

If they are otherwise good tenants, maybe paying rent bi-monthly after they get paid would help. I do this with on tenant and they haven't been late since.