How did your investments do in 2019?

Chief Sapulpa · Jan 3, 2020

I'll miss my 401k when I retire in June; my employer matches up to 25% so needless to say I've been maxing out the last 6 years.

Oklahomabassin · Jan 3, 2020

Chief Sapulpa said:
I'll miss my 401k when I retire in June; my employer matches up to 25% so needless to say I've been maxing out the last 6 years.

That is an awesome match.

CHenry · Jan 3, 2020

farmer17 said:
Be careful with some of those investment funds they manipulate the numbers where it makes it look like you are making more interest than you really are, I've never had very good luck with them long term. I'm getting into rent houses, got a great deal on a nice 30 year old 1750 sf brick home in a good neighborhood for $120K and put a little into fixing it up and it rented right away for $1350/month. My payment is $845/mo and if I put the entire amount towards principal it will be paid for in 9 years and the house currently appraises at $160K.

Gonna suck on those months you have no renters.
Should NEVER leverage a mortgage for rental income.

JD8 · Jan 3, 2020

CHenry said:
Gonna suck on those months you have no renters.
Should NEVER leverage a mortgage for rental income.

Oh I wouldn't say never. I know two guys that have about 8 to 10 million in property, mostly single family homes and that's how they started. It's just like any other type of investment, if you play your cards right you'll do well.

CHenry · Jan 3, 2020

JD8 said:
Oh I wouldn't say never. I know two guys that have about 8 to 10 million in property, mostly single family homes and that's how they started. It's just like any other type of investment, if you play your cards right you'll do well.

True but the gamble there is real. I dont like being leveraged.
Like mortgaging a home to invent the money in Stocks.
Same thing.
Very risky.
If the bank sells your loans and the new owner calls your loan, your foreclosing. Happens a lot.

JD8 · Jan 3, 2020

CHenry said:
True but the gamble there is real. I dont like being leveraged.
Like mortgaging a home to invent the money in Stocks.
Same thing.
Very risky.
If the bank sells your loans and the new owner calls your loan, your foreclosing. Happens a lot.

You're not wrong either. He's higher than I'd like to be so I get it.

If someone buys the loan, they cannot alter the original loan document from what I understand, so if you make your payment, you'll be fine.

CHenry · Jan 3, 2020

JD8 said:
If someone buys the loan, they cannot alter the original loan document from what I understand, so if you make your payment, you'll be fine.

A bank can call the loan at anytime. Not sure how thats even legal but they do it. Happens a lot when a bank is leveraged to high and at risk of failing.

JD8 · Jan 3, 2020

CHenry said:
A bank can call the loan at anytime. Not sure how thats even legal but they do it. Happens a lot when a bank is leveraged to high and at risk of failing.

I thought they could do that on a LOC but not conventional?

CHenry · Jan 3, 2020

JD8 said:
I thought they could do that on a LOC but not conventional?

I'm not sure.
But when you mortgage home, they bank takes ownership of said property.

SlugSlinger · Jan 3, 2020

CHenry said:
True but the gamble there is real. I dont like being leveraged.
Like mortgaging a home to invent the money in Stocks.
Same thing.
Very risky.
If the bank sells your loans and the new owner calls your loan, your foreclosing. Happens a lot.

This sounds like a crock. Are you drinking and posting again? The buying bank buys the obligation and the language does not change. A bank cannot foreclose if the home owner meets their obligation outlined in the loan documents.

How did your investments do in 2019?

Chief Sapulpa

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Oklahomabassin

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CHenry

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JD8

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CHenry

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JD8

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CHenry

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JD8

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CHenry

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