All Forum Posts by: Son D.

@Monica Evans You're right in that if you do cash out refinance you've increased your debt thus reducing your cashflow. However, you can use this cash out as a down payment for your next cash flowing property. Try to do this so that the cashflow of 2 properties are at least the same as the 1 property before you refinanced, if not more. People use this as a strategy to scale and build their net worth. Make sure that you are comfortable with the amount of debt that you will have from owning these 2 properties. Remember though that even with more debt, as long as your properties cashflow, you now have 2 tenants paying off your debt.

@Tim Newton Norada has lots of different markets. You have to pick out your market based on your criteria and goals. Then you may want to research different turnkeys in that market. I'm wondering why you choose them specifically? I know they're a bit more well known and reputable than most others but you're paying for that.

@Nathanial Wood right now chase freedom unlimited has 3% cash back on everything for up to 20k of spending within first 12 months then 1.5 after that. There is no annual fee so you can use it for promotional purposes then get another while still being able to keep your card.

A couple of years ago they were talking in several videos about buying a set of 4 properties (I believe each was a duplex but not sure exactly.) from a retiring landlord. They tried to get a loan through Lima One and the loan fell through. So they decided to pay cash for it. The deal was over a million dollars. Not exactly the level of properties they sell.

@Jay Hinrichs Natalie said in a video in the past that when they retroactively put their properties into an LLC it cost them thousands of dollars per LLC. I've called ProVision firm in the past to see what the kind of system Morris spout would cost someone starting out and it was almost 10k. To put things in perspective for me, they said the Morris cost north of 70k to set up. For that kind of money I would hope they're confident enough in their structure to keep all their properties instead of selling them off.

 Thanks for the advice. I will try to connect with him.

Hi everyone I live a bit north of Boston but have been investing sfh out of state. I'm starting to look into Worcester area for multiple family due to lower price points. Anyone has any suggestions who I should connect with or guides to look for in the area?

@Shiloh Lundahl I would say it absolutely matters in REI because it matters to the majority of buyers and renters. It drives up home values and rents. While ratings may seem to be merely subjective and every school has all different kinds of students, schools in towns with deeper pockets and bigger budgets tend to show better results. Parents in those towns are also more vocal if they feel their child's teacher is lacking. Those cities are considered highly desirable. Generally around here the city's reputation goes hand in hand with school systems which matches with buying and renting prices.

Sorry I didn't mean to tag Tyler Lee on my last post. I just pressed reply on my phone and went with it.

@Tyler Lee I don't think this is the place to ask this question since this isn't a landlord-tenant relationship. If it was i would say sleeping with your tenant is a good way to screw up your wealth building. Seriously, no one looks at a girl and think "damn she's an easy 10.....CAP. I bet those ***....sets would give me some serious cash flow."

@Lori Greene I just bought a property cash using my HELOC and currently doing a cash out refinance. I plan to use the cash out to buy more properties in the near future.