If your rental properties are tied to 30-year mortgages, do you have to wait decades to reach your Freedom Number? Is there a faster way to pay off your investment properties? That’s our first question on today’s show!
This Q&A episode of Investing in Real Estate covers topics like paying down your rental properties quickly, how much a down payment is when you invest with Morris Invest, and the details of transferring an asset into an LLC. Press play to hear my answers to your real estate questions!
On this episode you’ll learn:
- How to pay off your rental properties quickly.
- What you can expect to pay for a down payment with Morris Invest.
- What you need to know about transferring your properties to an LLC.
- And more!
How to Pay Off Your Rental Properties Quickly
If you’ve purchased and marketed your rentals correctly, then your mortgage should cost less than your rental income. In that case, you can put the extra cash flow toward paying off your loan. If the process is going slower than you’d hoped, I want to remind you of the three stages of real estate investing: buy, own, and cash flow. Eventually, it will happen. I implore you to set a goal and map out a way to get there.
What You Can Expect to Pay for a Down Payment with Morris Invest
Typically you can expect to put down a minimum of $45k for a down payment. However, this can shift, It depends on the strategy used, available inventory, and financing options that will work for you. We offer work with multiple lenders and we offer multiple investing strategies, including partnerships and a referral program.
What You Need to Know About Transferring Your Properties to an LLC
It’s fairly simple to transfer properties into an LLC. I’d recommend teaming up with a great attorney who can help ensure the process is done correctly. We love Garrett Sutton’s team at Corporate Direct. It’s important to note that while moving your properties to a legal entity is important for tax purposes, it will not change the way any loans on the property are shown on your credit.
Ask Me a Question at morrisinvest.com/clayton
Episode Resources
Book a Call with Our Team
RentRedi.com ← Use code INVESTING to get RentRedi’s annual plan for only $54!
Doing the Math on Rental Properties
MindNode
Corporate Direct
The Loopholes of Real Estate Investing by Garrett Sutton
morrisinvest.com/webinar ← Sign up for my webinar!
morrisinvest.com/clayton ← Ask me a 30-second question!
morrisinvest.com/bootcamp ← Download your FREE 90-Day Bootcamp!
Subscribe to Investing in Real Estate on iTunes
Find Your Financial Freedom Number
Subscribe to the Morris Invest YouTube channel
Like Morris Invest on Facebook
DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.
AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, meaning, at NO additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. However, this does not impact my opinion. We recommend them because they are helpful and useful, not because of the small commissions we make if you decide to use their services. Please do not spend any money on these products unless you feel you need them or that they will help you achieve your goals.
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