All Forum Posts by: ThomasRoy Penland

@Chase Yokoyama

I am very similar to our friend in the last podcast. The Lazy Way. I bought a condo in Summit County, Co. to live in and house hack with a roommate, then just never sold. Moved and bought a house in ABQ, moved and rented out as well. Then a home in VA.

After a few years in ABQ, I refinanced to pay off the condo, so that was now over $1000 net income a month and a cheaper payment on my home in ABQ because interest rates were lower. Then a year after I bought in VA, I did the same. Payed off ABQ, and now receive $1000 in net income a month. And pay the same for the VA house. My first time venturing off from this strategy was last august. I found a quadplex on ABQ and decided to buy it with 25% down because my income would still net me $1500 a month.

The point to this is that it was a slow process for myself, but that has kept my risk very low, and after some time, it can replace a very generous salary, practically tax free.

@Joe H.

Hi Joe. I am trying to purchase a few more quadplexes in Albuquerque. I currently have 1 and a rental home in ABQ. I would love to connect with you if you are still on BP. Thanks, TR

I am looking for help regarding new HVAC in a quadplex I recently purchased. I received a quote from my property manager for $6700 and this would fix only one of the four units. This seems extremely high. I wanted to know if this is reasonable, or if anyone had any other ideas or contractors to refer me to. Thank you, TR