Search found 444 matches

by ny_rn
Sun Jul 14, 2019 5:36 am
Forum: Personal Consumer Issues
Topic: What to do in Little Rock
Replies: 23
Views: 1491

Re: What to do in Little Rock

My hometown!

I suggest staying downtown in the River Market area: https://www.rivermarket.info/

Walk around, grab food, let the kids play on the hill/grass at the Bill Clinton museum. Perfect half day complete.
by ny_rn
Mon Jul 01, 2019 10:40 pm
Forum: Personal Investments
Topic: Investment Property Mortgage Rate
Replies: 7
Views: 682

Re: Investment Property Mortgage Rate

The tenant is paying the interest...
by ny_rn
Mon Jun 24, 2019 9:27 pm
Forum: Personal Finance (Not Investing)
Topic: Triage in ER - charged $790
Replies: 60
Views: 4372

Re: Triage in ER - charged $790

You were triaged. You used readily available staff. In the end, you walked out after being triaged without signing out against medical advice (AMA). You're lucky they didn't test your blood sugar or order labs.

Pay it.
by ny_rn
Sat Jun 08, 2019 6:37 am
Forum: Personal Finance (Not Investing)
Topic: Tell us your side hustle success stories.
Replies: 68
Views: 6999

Re: Tell us your side hustle success stories.

Selling a niche product on Instagram. Took that money and bought two rental houses. Rinse and repeat.
by ny_rn
Sat Jun 01, 2019 6:04 pm
Forum: Personal Finance (Not Investing)
Topic: Buying an investment property while renting an apartment?
Replies: 24
Views: 1773

Re: Buying an investment property while renting an apartment?

I rent in NYC, but control two rental properties in another state. Make sure the numbers work and you are cash flow positive. Don't forget it is a job and you do not just sit back and collect payments. Also, hold a significant amount of reserves.
by ny_rn
Tue May 21, 2019 3:42 am
Forum: Personal Finance (Not Investing)
Topic: Opening a Pediatric practice as a Pediatric Nurse Practitioner
Replies: 66
Views: 4764

Re: Opening a Pediatric practice as a Pediatric Nurse Practitioner

Just a thought since you have the entrepreneur mindset... You could create various pediatric videos on YouTube, create and sell merchandise, phone consultations, speaking engagements, etc. If successful, you could reach millions and make money at the same time. You'll own your own "practice" and run...
by ny_rn
Fri May 10, 2019 7:55 pm
Forum: Personal Finance (Not Investing)
Topic: Do you rent even if you can afford to buy?
Replies: 121
Views: 19152

Re: Do you rent even if you can afford to buy?

I rent in NY, but control two rental properties in another state. I prefer mobility.
by ny_rn
Sat Apr 27, 2019 10:46 pm
Forum: Personal Investments
Topic: First time home buyer. 403b loan, or roth ira 10,000 withdrawal?
Replies: 13
Views: 1082

Re: First time home buyer. 403b loan, or roth ira 10,000 withdrawal?

Why do you need a house? Rent, you're single. If I were in your shoes I would rent a room and beef up my retirement/savings accounts. If you must have a house, consider house hacking.
by ny_rn
Sun Apr 21, 2019 7:28 am
Forum: Personal Finance (Not Investing)
Topic: First Time Home Buyer Tips
Replies: 32
Views: 2075

Re: First Time Home Buyer Tips

Househack and live for free.

They can buy their dream home later. I doubt this is the one.
by ny_rn
Mon Apr 01, 2019 12:53 am
Forum: Investing - Theory, News & General
Topic: Rich Dad / Poor Dad Investing Theory
Replies: 74
Views: 5607

Re: Rich Dad / Poor Dad Investing Theory

You might find some value here regarding Kiyosaki:

https://johntreed.com/blogs/john-t-reed ... dad-part-1
by ny_rn
Fri Mar 15, 2019 1:12 pm
Forum: Personal Consumer Issues
Topic: 2 days in New York City
Replies: 54
Views: 3385

Re: 2 days in New York City

Explore the new Hudson Yards.
by ny_rn
Tue Mar 12, 2019 9:00 pm
Forum: Personal Investments
Topic: Investment property
Replies: 16
Views: 1077

Re: Investment property

This does not sound like a good idea based on the amount of unknowns here - especially for a new out of state real estate investor. The fees alone sound like they will eat your cash flow alive and leave you negative. With that being said, there are many out of state real estate investors who have fo...
by ny_rn
Thu Feb 28, 2019 9:06 am
Forum: Personal Finance (Not Investing)
Topic: Buying a house as a medical student
Replies: 23
Views: 1067

Re: Buying a house as a medical student

Rent. Stay flexible. Focus on family and medicine. There will be plenty of time to buy a house later.
by ny_rn
Sat Jan 26, 2019 3:38 am
Forum: Personal Investments
Topic: Investing in a rental property - first time investor
Replies: 21
Views: 1559

Re: Investing in a rental property - first time investor

thomasbayarea wrote:
Thu Jan 24, 2019 6:48 pm
I don't care about the cash flow, I just want to get into real estate investing.
Based on this, I would say don't do it.
by ny_rn
Thu Jan 24, 2019 10:37 am
Forum: Investing - Theory, News & General
Topic: 1st year with a rental property - hitting singles
Replies: 37
Views: 4047

Re: 1st year with a rental property - hitting singles

You may find some value on these two sites:

Rich on Money (20 free and clear positive cash flowing rentals): https://richonmoney.com/

Michael Zuber (one rental at a time): https://www.youtube.com/channel/UCmK_Pn ... YCQ/videos
by ny_rn
Wed Jan 23, 2019 3:46 pm
Forum: Investing - Theory, News & General
Topic: 1st year with a rental property - hitting singles
Replies: 37
Views: 4047

Re: 1st year with a rental property - hitting singles

Does your cash flow include maintenance and vacancy? What if life happens and your tenant has to leave? Will turnover wipeout your cash flow? I assume you two manage it, but you might want to include a property management fee into your calculations. Does the 13% cash on cash return include your tree...
by ny_rn
Mon Jan 14, 2019 11:19 am
Forum: Personal Investments
Topic: Real estate as part of overall investment plan
Replies: 37
Views: 2716

Re: Real estate as part of overall investment plan

I was wondering how many of you have real estate investments outside of stock investing? I am reading up on the basics of real estate investing and I feel that this could be a good way to diversify my overall portfolio and create a passive income stream. I'm a little concerned about making a "mista...
by ny_rn
Sun Jan 06, 2019 10:50 am
Forum: Personal Investments
Topic: Stopping 401k to buy up cash-flowing real estate?
Replies: 24
Views: 1956

Re: Stopping 401k to buy up cash-flowing real estate?

Thanks, EHoops and Longdog, We've already got one property purchased and in the middle of renovations. We'll be hands off and working with a property management company to handle tenant screening, turnaround, rent collection and repairs. We've crunched all the numbers, and our conservative numbers ...
by ny_rn
Sun Jan 06, 2019 8:58 am
Forum: Personal Investments
Topic: Stopping 401k to buy up cash-flowing real estate?
Replies: 24
Views: 1956

Re: Stopping 401k to buy up cash-flowing real estate?

I have one cash flow positive property and hope to acquire more in the near future. I think you will find some value in the following links:

Rich on Money: https://richonmoney.com/about-me/

One Rental at a Time: https://www.youtube.com/channel/UCmK_Pn ... YCQ/videos

Good luck.
by ny_rn
Mon Dec 31, 2018 4:21 am
Forum: Personal Investments
Topic: Buying More Paper Assets or Rental Properties
Replies: 15
Views: 1366

Buying More Paper Assets or Rental Properties

I do not want to turn this into a paper asset vs. rental property debate. I am at a crossroads between investing more into my paper asset portfolio or buying a second rental property. In short, my W-2 income is used to max the 403(b) and Roth IRA. Anything after that flows into a emergency fund and ...
by ny_rn
Sun Dec 30, 2018 9:44 pm
Forum: Personal Investments
Topic: Too Heavy in Real Estate?
Replies: 12
Views: 1013

Re: Too Heavy in Real Estate?

Do you have any interest in buying more rental properties? Can you get some of that $1.2MM in equity working for you?
by ny_rn
Thu Dec 27, 2018 7:21 pm
Forum: Personal Finance (Not Investing)
Topic: Side Hustle? Passive Income?
Replies: 71
Views: 9121

Re: Side Hustle? Passive Income?

I hear people say depreciation is a huge benefit to owning a rental. Doesn't that have to be paid back eventually when the house is sold? I honestly don't mind with the rental being a side hustle rather than passive income. I will delete that the thought from my head for good that rentals are passi...
by ny_rn
Thu Dec 27, 2018 6:43 pm
Forum: Personal Finance (Not Investing)
Topic: Side Hustle? Passive Income?
Replies: 71
Views: 9121

Re: Side Hustle? Passive Income?

I often think about purchasing rentals to supplement income and reinvest into other things....however.....I struggle with the idea that every dollar I put into a rental, it is not going into the stock market, which seems to return at least 8% over the long term (30 plus years). I have extensively l...
by ny_rn
Thu Dec 20, 2018 10:14 am
Forum: Personal Investments
Topic: Peer to Peer Lending/Investing
Replies: 17
Views: 1132

Re: Peer to Peer Lending/Investing

Tread lightly.

Read about RealtyShares: https://therealdeal.com/2018/11/07/crow ... s-layoffs/

Keep things simple.
by ny_rn
Mon Dec 17, 2018 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: Buy SFH for rental?
Replies: 31
Views: 883

Re: Buy SFH for rental?

Short answer. No. You are negative cash flow every single month. As others have stated, you are banking on appreciation.

You're assuming no management? It's a business, treat it as such.

Spend some time at: https://www.biggerpockets.com/
by ny_rn
Thu Dec 13, 2018 10:01 am
Forum: Personal Finance (Not Investing)
Topic: Side Hustle? Passive Income?
Replies: 71
Views: 9121

Re: Side Hustle? Passive Income?

Instagram business and real estate. The Instagram business feeds the real estate. I wouldn't want you to give away your secret sauce, but what is an Instagram business that feeds a real estate business? I have seen gym-fit, attractive people on Instagram with several 100K followers who post "thirst...
by ny_rn
Thu Dec 13, 2018 2:04 am
Forum: Personal Finance (Not Investing)
Topic: Side Hustle? Passive Income?
Replies: 71
Views: 9121

Re: Side Hustle? Passive Income?

Instagram business and real estate. The Instagram business feeds the real estate.
by ny_rn
Tue Dec 11, 2018 1:14 pm
Forum: Personal Investments
Topic: Portfolio review for 29 & 30 year olds.
Replies: 18
Views: 2059

Re: Portfolio review for 29 & 30 year olds.

I think you will find some value on this blog: https://richonmoney.com/about-me/

He has ~ 20 paid off rental properties on a military salary.
by ny_rn
Sun Dec 02, 2018 1:58 am
Forum: Personal Investments
Topic: Considering residential real estate investment
Replies: 74
Views: 5642

Re: Considering residential real estate investment

Use leverage. Why tie up $200k in cash? Take 20% of that and control the same business. Use the rest for reserves or other opportunities. Consider property management and do your due diligence.
by ny_rn
Sun Nov 25, 2018 8:01 pm
Forum: Personal Consumer Issues
Topic: Unsatisfactory Hotel Experience
Replies: 27
Views: 3021

Re: Unsatisfactory Hotel Experience

You should definitely complain. This happened to me at a hotel in Tulum. American Express comped my whole hotel stay for the inconvenience.
by ny_rn
Wed Nov 21, 2018 10:57 pm
Forum: Personal Consumer Issues
Topic: Landlords: Where do you buy your fridges?
Replies: 15
Views: 2457

Re: Landlords: Where do you buy your fridges?

I do not provide a refrigerator or washer/dryer in my single-family home rental.

The less they can break, the better.
by ny_rn
Mon Nov 19, 2018 4:41 am
Forum: Personal Finance (Not Investing)
Topic: sell rental condo 6 miles from Crystal City, VA Amazon location?
Replies: 36
Views: 3924

Re: sell rental condo 6 miles from Crystal City, VA Amazon location?

Raise rent accordingly. It's cash flow positive.

Doesn't sound like you "need" to sale.
by ny_rn
Sun Nov 18, 2018 12:00 pm
Forum: Personal Investments
Topic: Buy a 2-family/rental property or REIT
Replies: 8
Views: 1102

Re: Buy a 2-family/rental property or REIT

They are not comparable. You may want to ask this question over at Biggerpockets. But, then again, they will all tell you to buy the 2-family. It is important that you consider the risks and ask yourself a lot questions. - Who will manage this property? How good is this property manager and what is ...
by ny_rn
Mon Nov 12, 2018 12:15 am
Forum: Investing - Theory, News & General
Topic: What's everyone currently in?
Replies: 93
Views: 8681

Re: What's everyone currently in?

Total stock market (403b, roth, taxable)
Cash

I sleep pretty well...
by ny_rn
Wed Oct 31, 2018 3:52 pm
Forum: Personal Investments
Topic: Investment/Retirement Mentality - Home Purchase
Replies: 14
Views: 657

Re: Investment/Retirement Mentality - Home Purchase

As others have mentioned, you should consider all expenses. What about cash reserves?

Do not spread yourself too thin.
by ny_rn
Fri Oct 26, 2018 11:01 am
Forum: Personal Investments
Topic: Buying an investment condo in Panama City Beach
Replies: 16
Views: 2615

Re: Buying an investment condo in Panama City Beach

Too many variables. What is the cash flow? How active will you be in the Panama rental? How much are you selling your current rental for? Does it currently cash flow? Can you get 7.5% ROI somewhere else where it is completely passive?
by ny_rn
Thu Oct 25, 2018 7:12 pm
Forum: Personal Investments
Topic: 401k Investment Options to Make the Total Stock Mkt
Replies: 5
Views: 434

Re: 401k Investment Options to Make the Total Stock Mkt

I have small and mid-cap options in my 403(b), but I chose the basic SP500 for simplicity.

I hold the total stock market index fund in rIRA and taxable accounts.
by ny_rn
Thu Sep 27, 2018 5:21 am
Forum: Personal Investments
Topic: Invest now or direct the money towards a loan to come?
Replies: 8
Views: 706

Re: Invest now or direct the money towards a loan to come?

Short answer. Do not go to film school. Take some of that money and make films and distribute them via the internet yourself. Use your resources... Email people and get on sets. Think long and hard about this before you commit to $100k in loans for a Master's in Film. FYI - I wanted to go to film sc...
by ny_rn
Mon Sep 24, 2018 12:26 am
Forum: Personal Finance (Not Investing)
Topic: Best way to get $100k cash
Replies: 86
Views: 8010

Re: Best way to get $100k cash

I doubt it.

Pay off the mortgage within a year since you can repay $100k loan within a year.
by ny_rn
Fri Aug 31, 2018 5:21 pm
Forum: Personal Investments
Topic: Anxiety / REIT?
Replies: 3
Views: 684

Re: Anxiety / REIT?

I'm not sure what you're asking, but stick around the board and soak up the knowledge.

Start here: https://www.bogleheads.org/wiki/Getting_started
by ny_rn
Tue Aug 28, 2018 9:55 am
Forum: Personal Investments
Topic: 6 figure sum to Vanguard Money Market or Savings account?
Replies: 12
Views: 1649

Re: 6 figure sum to Vanguard Money Market or Savings account?

Savings account. Keep it simple. Don't sweat the small stuff.
by ny_rn
Sun Aug 12, 2018 9:59 pm
Forum: Personal Consumer Issues
Topic: Rental House Issue
Replies: 21
Views: 2705

Re: Rental House Issue

I have no advice for you, but I will definitely follow this thread.

I just purchased a rental property. :shock:
by ny_rn
Sun Aug 12, 2018 5:49 pm
Forum: Personal Consumer Issues
Topic: Can I buy a Tesla?
Replies: 140
Views: 11559

Re: Can I buy a Tesla?

Do not buy this car. Not because you can't afford it, but this might trigger a trend of "I make enough, so I can afford it." One day you might wake up with all of this "stuff" and realize it's pretty much worthless. This will probably happen when you're headed to work and realize you could have stop...
by ny_rn
Fri Aug 03, 2018 4:33 am
Forum: Personal Investments
Topic: Using Side Business to Finance Rental Property
Replies: 7
Views: 594

Re: Using Side Business to Finance Rental Property

You can't hold on indefinitely and expect a continuation of spectacular returns. E.g. the first apartment building I built collected rent at 50% of the cost of building it p.a.! Within 3 years I got back all my investment including interest and mortgage free. I sold it 25 years later @ 10x annual g...
by ny_rn
Fri Aug 03, 2018 2:29 am
Forum: Personal Investments
Topic: Using Side Business to Finance Rental Property
Replies: 7
Views: 594

Re: Using Side Business to Finance Rental Property

With RE you have to be right in both time and space (location). Always remember that even hot locations will eventually follow the laws of economics and cool down. So you need to be awake. Any obviously high yield trade/industry will attract so much investment till it becomes mediocre. I also agree...
by ny_rn
Fri Aug 03, 2018 1:44 am
Forum: Personal Investments
Topic: Using Side Business to Finance Rental Property
Replies: 7
Views: 594

Re: Using Side Business to Finance Rental Property

I understand this is probably not the best board to ask this question, but I would like to see what the Bogleheads have to say. This board has literally saved my financial life. I would like to use funds from a online side business I have and place into a rental property. The 20% downpayment and re...