All Forum Posts by: Ryan Ingram

That makes sense, I don’t think I did a good job at being clear or articulating well.

My intentions would be to carry out the loan for the full duration.

I wouldn’t want to make any extra payments.

Long term, low interest loans are one of the many things that makes real estate investing a powerhouse for wealth generation.

But, my 30 year plan is not to have a free and clear portfolio.

I’m not interested in owning properties outright, but continually leveraging to acquire more.

So, if owning things free and clear prior to the completion of the loan terms is important to you...perhaps extra payments are smart.

Well said @Taylor L.

There probably is a creative way to get out of it that is also upright.

If a great deal comes by...that makes you more money than it costs to break your lease, I'd do that. 

However, I wouldn't recommend doing anything less than upright to get out of your lease or sublet. 

That could cause a much larger headache than it is worth if a myriad of different things goes wrong. The worst of which your reputation would be tarnished in the area...REI is a very small world.

We have 64 units, and we own one duplex that was built in 1885. It was built as a duplex, and has been a cash flowing income producing property since then. I say all of this to say...real estate has been around for a long time and will continue to be around for a lot longer than we both will be. 

So, keep aggressively learning and aggressively saving...and you'll be a force to be reckoned with by the time your lease is up. 

Congrats on your mindset to get into real estate and I'm sure you'll crush it when you get started!

I know a lot of wholesalers in the Ohio market...and I can't think of any of them telling me stories about them getting a foot hold by attending open houses. 

A lot of calling, door knocking, mailers, talking to people to help them through their situation and untangle the messes they've made...but no open houses...

Maybe this was a more broad, just get familiarized with the industry and what other homes are selling for and what condition they're in? 

That is my BEST guess...but I'm following this and looking forward to hearing what other people have to say!

Help me, help you, help me...I love that. 

Great attitude and I hope this works out for you. 

I'm not in W. Mass or CT, but I've got some real estate knowledge and I don't need your labor in return. We've got 64 units in Ohio and I'm sharing what I know on Youtube. Feel free to check it out and text me if you have any non-market specific questions about real estate. I'm happy to help (704) 706-4548.

I wish I did it sooner and longer. 

My wife and I now have 3 kids, so the size of duplex-4 unit we would need got pretty serious. 

Nonetheless, I bought my first home at 23 and rented out the rooms to coworkers. 

You've got the right idea and I'm looking forward to hearing your plan and seeing your success! 

I'm set on teaching my kids to house hack as soon as they hit 18...and getting another deal each year as currently allowed by banks/lenders. 

I believe the answer is the most recent 2 paystubs if it is a W2 job. I think if you're self employed or 1099 of any sorts...it goes to two years. 

I am biased, we have 64 units and we plan on holding them indefinitely. 

Even when the market is high, it seems to still make sense to hold on to them, mathematically. 

Refinancing at a lower interest rate and recapturing the equity to then use to acquire additional properties at a lower interest rate...just seems like a recipe for success.

I think traditional financing is always the way to go, until you can't anymore. 

I do not think you should buy a house in cash, even if you have the means to do so. 

The power of leverage is substantial, you'll be a lot further ahead by using leverage, then by doing everything in cash. 

We have 64 units and most are leveraged, those that aren't....will be soon.

Hey Travis, congrats on getting started and making the decision to invest in real estate. Reading the book is a great place to start. I would go to local meet ups and find a few people that are seasoned investors with several properties. Then, I'd start analyzing properties excessively until you're comfortable with the math behind a good rental property. After that, I'd start trying to look at properties with an agent or a wholesaler, assess the deferred maintenance, and start offering...

There is tons to learn, but you can't beat hands on experience. I'd be happy to help answer any questions if you have specifics. 

Looking forward to seeing you grow your portfolio!