Projecting debt-to-assets of 56.00%.
Refinancing an investment property next month. Appraisal came in 10% higher than I was holding the asset on my books. Also updating values on a couple others. I always try to be conservative in book value, but if I have an appraisal it makes sense to update with that. Proceeds from the refi this month were used to pay down the LOC from the money used to purchase 3 single family homes and the dump trailer. Using the dump trailer to avoid the debris fees each week allows it to pay for itself in about 2 years. It is getting easier to really utilize a line of credit now that we can take advantage of a window of availability to have our guys update a kitchen, bathroom, layout, etc in a rental, then increase the rent and pay ourselves back for the invested capital. Starting to really see the momentum from a larger snowball now (Buffett reference). The principal payments being made each month alone are larger than I could realistically save each month without drastically living below our means. Starting to see how paying off 1 house each year could really be a possibility. Hoping to retire from all other work by 2030. |