tag:blogger.com,1999:blog-2118034367359368521.post4302545276733990813..comments2023-09-19T21:34:19.439-07:00Comments on Pay Off My Rentals: My Rental Payoff History ---Update - June 2014Pay off my rentalshttp://www.blogger.com/profile/15055969747933706799noreply@blogger.comBlogger11125tag:blogger.com,1999:blog-2118034367359368521.post-89658486716133089252015-03-10T20:14:16.889-07:002015-03-10T20:14:16.889-07:00I love your posts! I have 4 rental properties that...I love your posts! I have 4 rental properties that have mortgages and recently decided to pay them off and be financially independent too! With any luck the stock market will be down and we can start grabbing great stock and really get the snowball moving!Realtor for the Peoplehttps://www.blogger.com/profile/14278943399923854313noreply@blogger.comtag:blogger.com,1999:blog-2118034367359368521.post-66484703649926105972014-07-30T13:07:59.950-07:002014-07-30T13:07:59.950-07:00That’s true! Almost nothing can go wrong with a so...That’s true! Almost nothing can go wrong with a solid plan at hand. And it's great that it worked well with you, especially since you're paying for two mortgages at once. Just keep following your plan and for sure, time will come and you will pay it all off. And besides, if things didn’t go as you have planned it, you can always regroup and use that information to make an even better plan. Good luck!<br /><br /><a href="http://ironpointmtg.livejournal.com/1864.html" rel="nofollow">Barry Sutton @ Iron Point Mortgage</a>Anonymoushttps://www.blogger.com/profile/12627344404098070199noreply@blogger.comtag:blogger.com,1999:blog-2118034367359368521.post-1757065289138709132014-07-09T11:20:06.914-07:002014-07-09T11:20:06.914-07:00Thanks, Steve!
Very kind. I'll take a run ov...Thanks, Steve!<br /><br />Very kind. I'll take a run over and check out your site. Intriguing title.<br /><br />We moving as strong and fast as we can. Getting close to another payoff and now's no time to wear out. The reward comes only when you cross the payoff finish line and get to finally keep the payments for yourself.<br /><br />Stop by anytime! Pay off my rentalshttps://www.blogger.com/profile/15055969747933706799noreply@blogger.comtag:blogger.com,1999:blog-2118034367359368521.post-80882715692346088042014-07-08T14:43:28.667-07:002014-07-08T14:43:28.667-07:00I've been waiting for more posts! Great to hav...I've been waiting for more posts! Great to have you back! You're an inspiration on paying off mortgages.<br />- Steve, LiveSmartNotHard.comStevehttps://www.blogger.com/profile/15243024597984610152noreply@blogger.comtag:blogger.com,1999:blog-2118034367359368521.post-76895182197017446112014-06-17T13:30:05.908-07:002014-06-17T13:30:05.908-07:00Good work grinding away that debt. That is a lot o...Good work grinding away that debt. That is a lot of property there. Great passive incomeAsset-Grinderhttps://www.blogger.com/profile/10563675122942032357noreply@blogger.comtag:blogger.com,1999:blog-2118034367359368521.post-9269522376258385352014-06-16T19:15:33.416-07:002014-06-16T19:15:33.416-07:00It is really impressive seeing your progress with ...It is really impressive seeing your progress with paying down your mortgages. Just like following other reduce and eliminate debt or dividend investors increase their portfolio and dividend income it truly is inspirational to see that we all have the power to take control of our financial lives no matter what our income and socioeconomic status are.DivHuthttps://www.blogger.com/profile/02437642929198374070noreply@blogger.comtag:blogger.com,1999:blog-2118034367359368521.post-59674923202918782152014-06-15T17:51:33.362-07:002014-06-15T17:51:33.362-07:00Hey, I had a great time reading your website. Do y...Hey, I had a great time reading your website. Do you have an email address that I can contact you on? Thank you and hope to hear from you soon.<br /> <br />Regards, <br /><br />Joel <br />JHouston791 gmail.com<br />Joelhttps://www.blogger.com/profile/07366427989777183086noreply@blogger.comtag:blogger.com,1999:blog-2118034367359368521.post-4583819362170927922014-06-15T05:14:34.816-07:002014-06-15T05:14:34.816-07:00@Stoicinvestor
Glad to have you stop by. I have u...@Stoicinvestor <br />Glad to have you stop by. I have used debt as a tool to increase my number of rental houses. However, a more conservative approach might be to buy a fixer upper as your personal residence every few years. Convert the previous home to a rental and roll those rental payments into the new purchase for a quicker payoff. You can remodel and pay off the new acquisition quickly capturing while also taking advantage of the lower interest rates available to homeowners vs. investors. That may take longer, but it is conservative and comfortable for many who successfully do that. I look forward to keeping up with your progress.<br /><br />@Change is a good thing <br />Thanks so much. I fantasize about the day when I have no mortgage payments and am living off the rental proceeds. You have to visualize that often and in total clarity to keep your determination strong and in focus. Let's get it done together!<br /><br />@FerdiS<br />I appreciate your approach. I, of course, agree to some extent. However, while my comment about now seeing ALL debt as "bad debt" was meant to be more subjective and reflective of my new mindset, I will argue that ANY debt is an Achilles heel. So-called "good debt" amounts to a vulnerability that you're willing to accept, but at the risk of blowing up in your face. We only have to look back a few years to see how many families were damaged by so-called "good mortgage debt". I would argue that debt is more like a tool that can be wielded in a productive or dangerous manner depending on the user. But there is always the inherent risk of defaulting when your income stream dry up due to injury, economic crashes, illness or ....<br /><br />I would prefer to call student loans and mortgage debt "tolerable debt" rather than "good debt".<br /><br />Would I mortgage my home at 5% to fund a POSSIBLE 10% return on investment? NO. That would be an unacceptable risk for me. <br /><br />Mortgage interest tax deduction as a reason for taking on debt??? I believe that to be a failed argument that I won't waste the digital ink to refute. You can read plenty about that elsewhere.<br /><br />So, while appreciate the "good debt" argument (after all, I've used it to get where I am now), it is always risky and therefore, in my mind, "bad".<br /><br />I think I'll have to write more on this going forward. Thanks for stopping by and adding some breadth to the discussion!Pay off my rentalshttps://www.blogger.com/profile/15055969747933706799noreply@blogger.comtag:blogger.com,1999:blog-2118034367359368521.post-52987232496810808022014-06-11T22:51:36.857-07:002014-06-11T22:51:36.857-07:00I applaud you for your tenacity! Getting rid of de...I applaud you for your tenacity! Getting rid of debt is certainly a great goal to have. Having said that, I don't think all debt is bad debt. <br /><br />If you can earn 10% per year return on investment with a business endeavor, wouldn't you borrow money at, say, 5% to fund that investment? <br /><br />Mortgage debt (assuming today's rates) is not bad, either. There's the tax benefit you get for mortgage interest payments. Also, inflation works in your favor, as, generally speaking, real estate values keep track with inflation over the long term. And, you have to think about the time value of money, too. $1,000 paid 10 years from now is worth less than $1,000 paid now. FerdiShttps://www.blogger.com/profile/05008021146951839361noreply@blogger.comtag:blogger.com,1999:blog-2118034367359368521.post-88121077211717256882014-06-11T20:15:32.864-07:002014-06-11T20:15:32.864-07:00WOW! Very impressive! I look at all debt as bad ...WOW! Very impressive! I look at all debt as bad as well. There is something truly freeing about saying you don't owe anyone anything. At least I think that's how I'm going to feel when I finally get there. :) Great job! Keep it up! Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2118034367359368521.post-22709331921471550262014-06-10T05:38:05.862-07:002014-06-10T05:38:05.862-07:00I share your same feelings about debt, I think it&...I share your same feelings about debt, I think it's all bad. I'm now trying to figure out a way to tackle a few more real estate projects as another flip or a possible rental. It's hard to do without taking on debt. Any thoughts?Anonymousnoreply@blogger.com