It's not ideal, but not a deal breaker either for rental property in my area. By "refinance" it is really "cash out" because there is no mortgage on the house currently.
Love the moves Zach! Are you planning to stop at three rentals or planning to add more to the portfolio once you are stable in your new home? Self managing or hiring a property manager?
I'm not planning to stop at 3 rentals, but I will wait till my new home stables out before trying again! PLUS I have some awesome plans for my primary residence that I will be sharing soon :) Property managements all the way. Too stressful otherwise in my opinion. Plus, I like to travel away.
Yes, I have plenty of time, but I value it highly. I still hire out contractors to do the work and hire property management. It reduces ROI in the short-term, but It scales much better.
That's true. I think it's because I'm still young and easily employable (hopefully lol). I currently do not have children, so I can afford to take more risks right now. Thank you!
Check out my previous video where I revealed my asset allocation, watch it for more context!
ua-cam.com/video/ZuzelL6xdwQ/v-deo.html
Well done, Marine! Keep grinding brother.
Oorah! Semper FI!
Interesting that you plan on refinancing with interest rates pretty high. And I do appreciate you sharing where you’re at right now.
It's not ideal, but not a deal breaker either for rental property in my area. By "refinance" it is really "cash out" because there is no mortgage on the house currently.
Love the moves Zach!
Are you planning to stop at three rentals or planning to add more to the portfolio once you are stable in your new home?
Self managing or hiring a property manager?
I'm not planning to stop at 3 rentals, but I will wait till my new home stables out before trying again! PLUS I have some awesome plans for my primary residence that I will be sharing soon :)
Property managements all the way. Too stressful otherwise in my opinion. Plus, I like to travel away.
Clever, you'll have time to implement improvements personally, keeping costs down, and make up for drag of interest until you get a tenet.
Yes, I have plenty of time, but I value it highly. I still hire out contractors to do the work and hire property management. It reduces ROI in the short-term, but It scales much better.
Your risk appetite is pretty aggressive for someone who has already FIRE’d hope those properties continue to grow for you!
That's true. I think it's because I'm still young and easily employable (hopefully lol). I currently do not have children, so I can afford to take more risks right now. Thank you!