How did your investments do in 2019?

[Chief Sapulpa]

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]

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]

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]

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]

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]

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]

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]

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]

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]

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.