All Forum Posts by: Russell Cazeault

@Scott V.

I’m curious why you decided to post this - To me it looks like you are looking for us to talk you out of it, otherwise you would have just gone ahead and done it anyways.

I like nice cars and could certainly afford a sports car... but would feel like a show-off and probably not drive it enough to justify its cost.

Two things:

Read the millionaire next door by Thomas Stanley

Set a goal (such as buy 3 cash flowing properties or generate $ xxxxx in monthly cash flow) and use this to motivate you.

A couple of my favorites from this years reading are - "It's Your Ship" by Micheal Abrashoff  and "Never Split the Difference" by Chris Voss. 

Currently reading "Never Eat Alone"  by Keith Ferrazzi, but having a hard time staying interested so far 

@Andrew Evans

Contact a public insurance adjuster who will work on your behalf and probably get more covered that if you just rely on the insurance company.

Also once the dust settles, it’s best to have a good insurance agent who can understand your situation and needs and properly insure you. Like everything else, the cheapest price isn’t always the best option

@Jeff Cagle

I think people only hurt themselves when they do this, pretending to offer advise, only to be here with an ulterior motive.

... btw I have some ginsu knifes for sale. These aren’t just any knife. You can use them for a rehab to scrape up old linoleum floors, cut and patch drywall, scrape loose lead paint and more. You can also cut bread, steak, lettuce and cook with them at the end of the day.

Respond now and I’ll throw in an extra pair

@Michael Ealy

While I’m interested in what you have to say, my initial response is we are all running our own race.

There is a tendency to measure by number of doors or income, but we are all here for different reasons and I think it’s safe to assume the the things that motivate us to be landlords and what we ultimately want from it vary from person to person.

Personally I enjoy taking a crappy property and making it better and also giving people a better place to live.

@Mark Lira

What about setting up an ACH or other automatic payment that gives them slightly better rate if they sign up for it. Once it’s set up, shouldn’t be much to worry about

@Jacob Merritt

We regret the things we didn’t do when we are older, not the things we did.

Only you can truly answer, but your at an age where you can change directions till you find that one thing that speaks to you. And often one thing leads into another. It’s ok to change directions, just don’t burn any bridges along the way.

Give it a shot, you have nothing to lose.

@Bud Gaffney.

So... I’m curious and playing devil’s advocate here.

I’m assuming he/she owns these free & clear. Doing some quick math your monthly payment ranges in the $6000-$7500 range depending upon the final term and rate agreed upon.

So why would someone who is brining in over 10k a month hand it all over to bring in about $4000 less.

I tend to belong to the “if it sounds too good to be true...... it is” club

@Paul Schaefer

Access to funds with ability to close quickly. Equity line, LOC, etc. I would even consider hard money if it's a pre-existing relationship and you can have $$ in your hands in a day or two.

This might be a better option.... https://www.atrafloor.com/floors/grass-effect-vinyl-flooring/

Especially if your going to allow pets.