All Forum Posts by: Soh Tanaka

It sounds like the next step is to use the equity to buy more cash-flow rentals, as long as doing so can sustain some positive cash flow from the current rentals. 

If you go to "Network" at the top and click "Events", you can find one in Tuscaloosa. I think this is the link. 

https://www.biggerpockets.com/forums/521/topics/153685-tuscaloosa-alabama-real-estate-investors

I'm very interested in Alabama market, as I think the rent to price ratio is pretty good, the law favors the landlords, and also it seems like the state is doing very well. Toyota-Mazda just announced to build a car plant, which is a big deal. Best wishes to you!

Generally speaking, D properties require more work, so make sure that the cash flow is super good to offset the drama you are probably going to live with. 

If you really think about the financial part of it, it makes sense to have a mortgage on your own home. Owning your home free & clear sounds like a good safe plan, until you realize that in order to be free & clear, you have to put that much money to it, so you'll have a lower payment but will have less cash on your hands. That is less safe to me than having no mortgage payment. 

I use National Tenant Network. 

I've done with Bank of America with no issues.

It looks like the creative strategy of prepaying the 2017 property tax this year, instead of next year, won't work for many people, due to the fact that you need to have the property assessed prior to 2018, and my guess is that's not the case for many people :-( 

IRS News

I guess the first step it to find out how much equity you can take it out. I would go to a bank/mortgage broker and start asking them questions regarding to how much can be taken out. Best wishes!

Thanks for sharing Mike. While I try to make sure that my investments are invested in the right assets, it's impossible to know that they will be successful for sure in the future, so that's why I diversify to different locations and types. 

Try this thread. It talks a lot about the new tax bill.