All Forum Posts by: Debbie Rumsey

@Account Closed

We own properties in San Diego, Phoenix and Salt Lake City.  Of course, we would love to invest more in Southern California (where we live) but the prices are very high right now and the numbers just don't seem to work.  

We are open to looking in any areas, however, we would have to factor in PM if it is far away. 

@Melissa Kirchhoff  

Thank you for your reply.  Even though we have been investing in real estate for 15+ yrs, it still seems so confusing to me as far as...

Do we sit and wait for tenants to pay off our loans over the next 20 yrs  OR

Do we continue to suck money out of the paid off properties to buy more properties in hopes for higher cash flow while incurring more debt

I listen to the podcasts of investors purchasing multiple properties per year and wonder where are they getting the down payments and how the heck are they living off the cash flow at a high debt?

Always open to learning and seems I still have a lot to learn!

I am hoping someone on these forums can help me out with understanding what the best way to leverage but not become deeper in debt. My husband and I own multiple SFR's, condos and a few small (du,tri,4plexes) some of which are paid off. We have been listening to podcasts from Bigger Pockets of investors that are buying much bigger multi units and saying that the numbers are much better. We are very excited to do the same, however, we are 50 yrs old and afraid of increasing debt by leveraging free and clear property into yet another debt when we purchase with the downpayment (taking a refi out on paid off property AND using it for only a downpayment creating 2 loans out of 1 paid off property) . I guess the question is....how can you look forward to cash flow for retirement when the debt has increased as well. Do most of you 1031 exchange or pull out the money in a refi to grow your investment portfolios? What am I missing?

Thank you for your help!

I just recently switched to SimplifyEm for my rentals and so far it has been very user friendly. The rare thing about it is that if you have any questions you can call and an actual person answers the phone and troubleshoots with you.  I have used Quicken in the past and had nothing but problems with the software.  I also use TaxBot on my phone for tracking mileage and expenses.  I love that I can snap a photo of the expense and toss the receipt!