All Forum Posts by: Rob Mudd

Thanks @Bjorn Ahlblad I remember buying my 8. It seemed like a gigantic step but it’s been so amazing. Again I feel nervous but I need to trust my numbers. 
cheers!

Well here it is just under a year and I have put a 12 unit apartment under contract. Thats 20 doors in under one year! Thanks to all I have learned here, Youtube and through reading. I was able to buy it with 15 month VTB interest only and a heloc. After stabilizing (roughly one year) I should be able to refi and have no money into the deal and cashflow of around $3k per month. It’s a grind but it is possible. Thanks Bigger Pockets!

Crushing It in apartments. I bought it as an audio book. Awesome 😎 

@Dan H. Thanks for your sage advice. I appreciate your reply! My LTV would be 80% so I agree that 65-75 might be more in my risk profile. A little reward might be in order but top priority is scouring for another Buy High sell Low opportunity (Cap Rate)

Cheers!

@Greg Dickerson Thanks for taking the time to respond to my post. I appreciate your time. 

Yes. having a plan for the funds is top of mind. My market is getting pricey too! I feel it's important to have dry powder for the right opportunity but you know how Murphy works!

I hadn't thought about you solution. Definitely worth thinking about!

Im a big fan of buy High sell Low. Speaking Cap rates. Hard to find these deals though

@Caleb Heimsoth At this point I'd be happy/ecstatic to 2X my growth! Agree with your take on Cardone. He does seem a little on the fake side. I will say though that I have been able to mine some nuggets from his videos but it does require a healthy dose of skeptyasysum.

Cheers and Happy Investing!

@Chris Mason Thanks for responding to my post. I appreciate you. Great observations and interpretations on the three fellows mentioned! I do believe in recycling and fully plan on using the HELOC again. Maybe I will not take the full amount offered and instead choose to lower the LTV to around 65-75%. This way I can have some dry powder and still be able to sleep at night.

Cheers!

Hi @Jake S. . Thanks for the reply the property will cash flow around $200 a door so I'm pleased with that. Supercharging with leverage seems to be a very popular/favourable way to go.I recognize Dave Ramsey to be on the far end of the spectrum.

Thanks for your input! I appreciate your advice.

Hi fellow investors. I purchased an 8 unit apartment building back in May. Thank-you Bigger Pockets! I used a HELOC to close. I have since stabilized the property. I approached a broker about refinancing the property and freeing up my HELOC. It was suggested that I amortize the property over 35 years on a ten year term to take advantage of low interest rates. Here's the surprising part. Turns out I bought the property CHEAP (Thanks Bigger Pockets) and using a 5 Cap rate I stand to take $500k out of the property and completely pay off my HELOC.

Great news right! Not so fast! I have spent my life being averse to debt so I am struggling with this scenario. On one hand I would love to take that cash and buy another property and on the other hand I wonder if I would be better paying this property off quicker and enjoying a debit free asset.

I have been watching Robert Kiyosaki, Dave Ramsey and Grant Cardone to try to reset my thinking. Has anyone else struggled with this problem/opportunity.

Thanks so much and happy investing!

I have recently purchased an 8 unit apartment. Four up four down. The building is an older (70’s) wood frame. I love the look and durability of vinyl but am worried about sound transfer to the lower units. I’ve heard thick carpet with a good underlay will be better for stopping sounds and foot fall. Anyone have advice on this?

Thanks!