All Forum Posts by: Wilson Churchill

@Brooks Everline

I agree with @J Scott. Just refinance the property to buy more, because:

1. You get to keep the current property and the rent that it produces

2. Leverage will greatly increase your rate of return, provided you maintain positive cash flow

3. Inflation works in your favor when you have low-interest, long-term debt

4. There are costs associated with selling the property

This one again? 

http://www.biggerpockets.com/forums/79/topics/1598...

Like the Whitney Information Network (Russ Whitney and Robert Kiyosaki), they will ask you to increase your credit limits and apply for more credit cards to purchase their training. Run away..

So what is the correct figure? The article doesn't address this.

Try to "pay cash" for your first house so that you can refinance and get it all back.

The less total investment, the better cash flow, regardless of class. Also, lower insurance and taxes = better cash flow. Lower repairs, etc. The alphabet system seems a little vague.  I target areas that are inexpensive, but also have low crime and low taxes.

I like LOCs because the interest rates are often similar to mortgages, but the closing costs are minimal. A line of credit may have closing costs of a few hundred, versus a few thousand for a mortgage. Spread over a number of properties, the difference in cost could mean being able to buy an extra property using the savings. But this strategy will depend on the prices of the homes. The cheaper the properties, the more significant the closing costs become as a percentage.

You could just paint the existing wood floor. 

Did you check to see if the ads allowed for unsolicited services or offers? There is a box people can check if they want such offers. Most people don't want to receive spam in their e-mail.

I have a friend that does this and she is always busy showing rooms and taking phone calls from different roommates. It is a lot more management intensive. 

http://www.tobaccofreeutah.org/landlord_tenant.html